New to Real Estate · VA · Member since 2021 · 22 posts · 7 votes
Hello BP family. I'm new to Bigger Pockets and Real estate investing. I'm from the Richmond Virginia area. I purchased my primary home 3 years ago and I think I'm ready to try my hand at REI. I would love to connect with people that are local to VA to learn the ins and outs of getting started and the do's and don'ts. Possibly a mentor. Are there any Richmond VA members here? (I'm sure there are 😊)
I was reading and listening to a lot of blogs and BRRRR sounds interesting but how does one start? I'm guessing that a lot of research would need to be done to find a lender and a decent contractor especially. Again, this is all new to me and I want to learn all that I can so that I can grow and pass along the knowledge.
Richmond, VA · Member since 2017 · 82 posts · 55 votes
5y
@Romi Gaddy
Hey, definitely start by learning how to run your numbers (ARV, estimating ballpark rehab costs, max allowable offer, etc). Then build your team consisting of your contractor, realtor, closing attorney/title company, even your accountant, hard/private money lender and your lender for the cash out refi part. Attend meetups, including Chesterfield REIA, Richmond RING, Todd Miller's Wholesaling Meetup which are back in person. Find info either through meetup.com or their Facebook pages. Network as much as you can and be ready to pull the trigger if you find a deal! If you need any help with it just shoot me a message
Richmond, VA · Member since 2017 · 82 posts · 55 votes
5y
@Romi Gaddy
Hey, definitely start by learning how to run your numbers (ARV, estimating ballpark rehab costs, max allowable offer, etc). Then build your team consisting of your contractor, realtor, closing attorney/title company, even your accountant, hard/private money lender and your lender for the cash out refi part. Attend meetups, including Chesterfield REIA, Richmond RING, Todd Miller's Wholesaling Meetup which are back in person. Find info either through meetup.com or their Facebook pages. Network as much as you can and be ready to pull the trigger if you find a deal! If you need any help with it just shoot me a message
Hey, definitely start by learning how to run your numbers (ARV, estimating ballpark rehab costs, max allowable offer, etc). Then build your team consisting of your contractor, realtor, closing attorney/title company, even your accountant, hard/private money lender and your lender for the cash out refi part. Attend meetups, including Chesterfield REIA, Richmond RING, Todd Miller's Wholesaling Meetup which are back in person. Find info either through meetup.com or their Facebook pages. Network as much as you can and be ready to pull the trigger if you find a deal! If you need any help with it just shoot me a message
Thanks for the advice Tom. I'll definitely check out meetup.com and Facebook so I can start networking.
Rental Property Investor · Richmond, VA · Member since 2018 · 87 posts · 51 votes
5y
@Romi Gaddy hi Welcome! I am a Richmond REI. @Tom Hacku has a lot of great points! The best way to start is to read & listen to as much about REI investing & meet like minded people! Everyone's situation is different with investing so there is no one way! Find what you think might work best for you! BRRRing is great if you can find a deal, find a contractors, & learning to evaluate a deal & calculate rehab costs. A few other pieces. Turn key rentals is a good way to start. I started with that! Feel free to reach out. Best of luck!
Rental Property Investor · Richmond, VA · Member since 2018 · 87 posts · 51 votes
5y
@Tracy Diec I didn’t buy them from a turn key company. I used the term ‘turn key’ because they are brand new duplexes with virtually no Maintainence. I manage myself. They are so rentable that I have had zero vacancy with almost no turn over.
Hello BP family. I'm new to Bigger Pockets and Real estate investing. I'm from the Richmond Virginia area. I purchased my primary home 3 years ago and I think I'm ready to try my hand at REI. I would love to connect with people that are local to VA to learn the ins and outs of getting started and the do's and don'ts. Possibly a mentor. Are there any Richmond VA members here? (I'm sure there are 😊)
I was reading and listening to a lot of blogs and BRRRR sounds interesting but how does one start? I'm guessing that a lot of research would need to be done to find a lender and a decent contractor especially. Again, this is all new to me and I want to learn all that I can so that I can grow and pass along the knowledge.