All Forum Posts by: William Randolph

@Mayank S. 

I dont know if I qualify as someone to give advice as I am so new at this but having tried with varying degrees of success stock market investing and ...well 8% ROI is the historical returns, so my target was 12% cash on cash returns for however much money I put in the deal (1% a month) going in. So for my first deal I put $28K into it (20%DP, CC and $9K in repairs) on a foreclosure townhouse I paid $78K for, appraised at $90K on day 1 and appraised at $121K after repairs were complete in Chesapeake. So my target cash flow was $280/mth (1%) after PITI, PM and 10% reserves. With a 2 year lease in place at $1195/mth -- its performing at $495/mth ...or 1.76%/mth or...21.1% annual. I am very pleased and in the process of getting the next one. 12% is an easy calculated target... for me.

New(er) NOVA investor here too! Just finished my first B&H deal in Chesapeake VA (Hampton Roads area) which is 2.5 hours away from me in Woodbridge VA. Just handed over the keys last weekend - 2 year lease, cash flowing VERY WELL (including PM). It can be done and the job market there (high military/health care/maritime industry components) support a transient population and solid rents. NOVA was cost prohibitive for me. Happy Hunting!!!!

Havent found one in NOVA yet. Think its time to start one....

Folks,
Any recommendations/insights on how to put privately held properties into a LLC in VA after they have been purchased? Thanks for any nuggets....