All Forum Posts by: William R Bebout Jr

I am looking for a reliable contractor who will work in the Christiansburg, VA area. I'm currently looking for my next deal and hoping to find a value add opportunity, and connecting with a good contractor would be helpful. Do you have anyone you would recommend?

(Let me know if I should be posting this in some other thread...)

Thank you one and all for your advice! I'll take it and keep things slow and steady and get more experience under me.

Quote from @Michael Smythe:

@William R Bebout Jr looks like you're in Christiansburg, VA?

Have you looked into the state requirements to manage properties you do NOT own?

Most states require you to have a real estate broker's license.

Then, there's a whole lot more to setting up a company and having all your processes, tech stack and forms.

If serious, you may want to research at NARPM.com.

Oh! Thank you for mentioning, I hadn't even thought of that. It looks like there IS a requirement for that in Virginia.

I just met with Jake regarding joining the new BP Property Manager finder/connection tool. I consider myself small potatoes in terms of property management: I just got my first two units in March and I am technically a property manager in that I am managing my properties that I bought; I haven't yet worked with clients or made business arrangements outside of my own interests. I'm still in early days of building up my business (and my experience... and my confidence), but I think I would be a good property manager if I were to scale. I think there is great opportunity to be a good property manager in my area, but my question to the community is: would it be a good idea for me, inexperienced but wanting to do a good job for my fellow investors, to get onboard with the Property Manager Finder? Or would it be jumping into the deep end prematurely? i.e. what don't I know about managing a property management company that should give me pause about this?

Thanks, Kathleen! I'm in the Roanoke FB group, but I keep meaning to come to the meeting to connect!

No undergrads at present, just grad and professional. I like Christiansburg for it's proximity to the Blacksburg activity, but not the price!

Investment Info:

Townhouse buy & hold investment.

Purchase price: $175,000
Cash invested: $43,383

This is the second of two units I closed on recently. My first deal.

Hello! I've been researching Bigger Pockets content since last August and I recently closed my first set of deals. I'm taking my first tentative steps into real estate investing and want to make sure I connect with the community. I live in Roanoke, work in Blacksburg, and invest in Christiansburg.

I'm interested in Buy and Hold properties in Blacksburg and Christiansburg. I'll probably be back here whenever I panic about not knowing how to do something :-).

Investment Info:

Townhouse buy & hold investment.

Purchase price: $180,000
Cash invested: $44,250

I was able to purchase Units A and B from an owner who was getting out and moving away. This is one of two Townhouses in Christiansburg, VA

What made you interested in investing in this type of deal?

I've been reading BiggerPockets content since last August and was looking for a good way to invest in my financial future.

How did you find this deal and how did you negotiate it?

I found this deal thanks to my realtor, Tom Sproul, who helped me through the process of going back and forth with the seller's agent. I offered two offers initially, a conventional mortgage offer and a seller financing offer. They weren't interested in seller financing, so we went back and forth until we settled on the final terms.

How did you finance this deal?

Conventional Mortgage.

Lessons learned? Challenges?

This was my first deal, so I feel like I'm still learning my way through.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Realtor - Tom Sproul, Coldwell Banker Townside
Lender - Chris Eads, Alcova Mortgage