Donovan Gill- Introduction

Member since 2026 · 4 posts · 0 votes

Hello all! My name is Donovan Gill, and I am a 23 year old senior real estate major at Old Dominion University, in Norfolk, Virginia. I am co-president of the real estate club at ODU, and I am in my final semester. I started my real estate investment company this April with my cousin, and I am happy to say that we have closed on our first property, and rented the vacant unit. I am currently in sponge mode, trying to learn everything I can about the industry before I charge out into the real world. I would love to connect with any real estate professionals in the Hampton Roads area!

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Jay TolugantiPro Member
Investor · Clearwater, FL · Member since 2025 · 214 posts · 73 votes
4d
Comgratulations. Below are the books I would recommend:

Strategy:

Rich man in Babylon

Robert Kiosaki
- Rich Dad Poor Dad
- Cashflow Quadrant
- Guide to investing
- Real book of Real Estate
Real Estate Journey:

Ken McKelroy
- ABCs of Real Estate Investing
- Advanced book of Real Estate Investing
- ABC of Property management
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- Donovan Gill
  OP
  Member since 2026 · 4 posts · 0 votes
  12h
  Thank you for the reply! I have read The richest man in Babylon twice, and I I love recommending to other people. I have read part of RDPD, but I will be sure to finish it!
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Brad SeidBusiness Member
Lender · Licensed in 28 States · Member since 2026 · 119 posts · 30 votes
4d
@Donovan Gill Welcome, Donovan! Congrats on closing your first property and getting the unit rented. Keep soaking it all in! If you ever need help with financing your next investment, feel free to reach out. Happy to connect!
[email protected]248-408-3855
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- Donovan Gill
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  Member since 2026 · 4 posts · 0 votes
  12h
  Awesome! I will certainly save your contact info for future deals.
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Ashish AcharyaBusiness Member
CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
4d
Donovan, congrats on getting the first property closed while you’re still finishing school. Since you already have the property and one unit is vacant, I’d focus first on getting that unit rent-ready without over-improving it.
Before spending much, I’d separate the work into what is necessary for safety/function, what will actually improve rentability, and what is purely cosmetic. Keep every receipt and track repairs separately from larger improvements because the tax treatment can be different.
From the tax side, depreciation generally starts when the rental is ready and available for rent, not simply when you purchased it. So I’d document that placed-in-service date carefully.
I'd also make sure the ownership structure with your cousin is clear from the beginning. If you're operating the property together through a multi-member LLC or partnership, you may have a separate partnership return and K-1 reporting each year. It's much easier to get that right now than clean it up later.
Since you’re already involved with the ODU real estate club, I’d use that network heavily for local contractors, property managers, lenders, and other investors around Hampton Roads. Your first property is going to teach you a lot faster than another semester of theory.
Feel free to DM me, I’d be happy to send over a few resources that might help with setting up the first rental correctly and keeping the tax side clean.
[email protected]941-914-7779
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- Donovan Gill
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  Member since 2026 · 4 posts · 0 votes
  12h
  Thank you for the reply! I made certain that we have kept every receipt for the property we have gotten so far. Our operating agreement is solid, so the ownership structure is clear to both of us. Thank you for informing me of the separate returns, I will make sure I keep an eye out for that!
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