All Forum Posts by: Ames Foley

Hi @Stuart Johnston

I am originally from Richmond.  I moved out to the midwest after college and have been here for 20 yrs now.  I am looking at dipping my foot back into the Richmond market.  Would like to chat sometime about how you see the RVA.

Ames

How are they supporting the roof/second floor with no wall?  I wish I could be of more help but I am still green in this area.  the one thing I have seen on the flipping shows, it putting in a new beam that can be wrapped nicely to accent the decor.  but again I am no expert.

Good luck and I hope more people respond to your questions.

@Kory Hannah great job.  What part of St. Louis?    Do you have a background in design? Where did you get your ideas?

@Adrian Stamer Have you talked to the smaller banks. Ones that would give a portfolio loan instead of the traditional? Am I correct in assuming this is for a SFR? I am working in the Southern Illinois area and have found most do not like to go beyond 20 yr for an LLC but a few will. Hopefully you will get additional information from your post but until then I would start calling the small guys. Good luck.

@Mark David I like the idea of donating it to Habitat for a tax right off.  This is an interesting issue.  Good luck.  I hope it works out.

@J. Martin I am new but this sounds like a event I should be part of.  Keep me posted.  Hope to get out there.

Welcome @Brett Keller.  You will find all kinds of great resources as you have questions about your properties.  

Good luck and keep us posted.  

Welcome to BP.  Lots of great resources here.  What niche are you looking to start in?  If you are not sure yet, there are some really good books to give you an overview of many of the different ways.  I see you are in real Estate already so you probably have already seen them.  I really liked The Millionaire Real Estate Investor by Jay Papasan.

Good Luck.

I left Richmond 20 years ago for work.  I am looking to invest in the area but no longer know the good Zip codes.  Short  Pump was farm land when I was there. 

@Caleb Brown Welcome to BP.  You will find all kinds of great contacts and resources.  I like that you are starting off House Hacking as @Brandon Turner calls it. Since you are a first time home buyer adn going to live in the house for a while, you should have some great options such as FHA Loans,etc. there are a lot of resources here that have forgotten more than I know in this area. I am still learning. I know there are lots of ways to geneate income. I would suggest looking at a Duplex or Triplex where you live in one and fix and rent the other units. Some cash flow would help you move faster into what you are wanting. Then in a few years you can either sell or buy a new property and rent your old unit. Flips are great but you only get the money once. The rent can continue for longer and can help you grow. Either way, i wish you luck. I grew up in Richmond and I am also looking to invent back there. However, after being gone for 20 years, I am not sure where to start.