All Forum Posts by: William Arrington

@Scott Mac

Real investors driving for dollars and actually figuring out value adds for BRRR... makes money

Zillow.... we are just going to buy things at about cost and hope the 20% gaines per year keep going.

The issue is that there were good investors who would find deals, fix them and sell them at cost to these companies. A moment of silence please for that lost business model

Legally speaking there is a difference between vacant and unoccupied.  

Case law defines the term vacant as “completely empty” – meaning a lack of both people and personal property. Stated another way, vacancy can also be defined as “substantially empty of personal property necessary to sustain normal occupancy.” The term unoccupied means that the property has been left in a state where the property still contains all items and possessions as if the owners were to return at any time.

Move items into the house.  Make sure one of those is a bed and forward your mail.  I am guessing you are there multiple times a week so this would probably work.  I am not a lawyer though so make sure you do your due diligence.  

I would look up appliances to avoid.  A good example is ice makers indoors.  It's the number 1 thing that breaks on fridges.  I would also avoid Samsung appliances.  They are awesome until they break and parts are very expensive.  I typically stick with whirlpool.  They still make their products in the united states so parts should be available.  Also, stay away from the fridge doors that have a handle that moves with a joint vs a bar.  people snap them off for some reason

Offer submitted.  Now we wait....

I realized I have never actually introduced myself.  My name is William and I spent 9 years in the military.  I was the kid making no money as an E-3 still reading about investing and people would just smirk and make snide comments about how it takes money to make money.... we will see who laughs last I guess.  After transitioning I was picked up by various fortune 100 companies to build and maintain their data centers.  That industry is a printing press for money and I finally got tired of making others rich... really really rich. So tomorrow I am going to put an offer on my first rental property.  I have always invested using the Warren buffet idea of Moats.  A moat is something a company has and will take a long time for someone to get over to compete. The larger the moat... the longer it takes for someone to challenge it.  My property has that moat because it is very difficult to build and the really sought-after lots have long been taken. (space on the mountain is limited)  If this works out and my number are off by 20% it will still cash flow $30,000 a year after everything else is paid for.  The goal is 3 of these by the end of next year if things do not change.  Wish me luck.

Actually got excited about a small meet up... then realized you are in Gainesville Florida... I am in Gainesville, VA

No but there are protected classes that cannot get the shots and it violates ADA law in those cases to discriminate.  

Its not as impressive as a lot of you guys but after wanting to do this for 10 years we have contacted a realtor in the area we want to purchase our first short-term rental.  The market is slim pickings right now but I would imagine that I will have one by spring.  So in short.. I am getting off the bench and actually playing

He will step on a landmine!  There are protected classes that cannot get the shots and if he pushes it he will violate parts of the ADA and that person will be able to buy a new house with his payout.  The funny thing is that if one of these people decides to push and are a protected class he will have to make accommodations under the law for their disability.  

Looking for a contractor that does good work in northern VA. New stall shower install with garden tub replacement or retile (open to ideas at this point). Any help is always appreciated.