All Forum Posts by: Chinmay J.

@Lisa Wood  - Megamillions jackpot is at almost $400 mill. Hopefully, you don't have Bryce Harper syndrome and that's good enough money for you. And the great news is it only costs $1.00. Go play it and then pray!. 

Actually, you should consider yourself fortunate. With get rick quick mentality, if you had any significant money you would end up losing all in "effort" to get rich quick.

Sorry, there isn't any other legal way other than save money, educate yourself, and invest wisely. 

Good Luck.

@Damon R. - Welcome to this great site from a fellow NoVa realtor/investor. I am fairly new to the site as well and there is wealth of information here on various aspects of REI. Make sure you check out the podcasts and read through different boards.

@Felipe A.  - Many congrats to you and your wife on arrival of the baby. 

I will let a financial expert address your first question, but on your 2nd question please bear in mind that condos are notorious for under appreciation in terms of equity. Condo market is a whole different animal. You need to understand what condominium ownership means. Its a form of ownership wherein you own common area as opposed to fee simple type of ownership. Please understand when you run your numbers you factor in typically HOA fee and CC (Condo Complex) fee.

Whether this is good deal for you or not, is something you need to decide yourself by running your numbers, but as far as appreciation, I would work with a qualified realtor to see for how much condos in that neighborhood were bought and sold for before you go ahead with the deal. Let some one run comps for you.

@Brit Foshee - Sweet profit... Nicely done.

@Peter Padalino - You need to access your expectations with what the agent is able and willing to offer. There are probably a dozen of reasons why he may or may not be the right agent for you, or you may or may not be the right client for him.  As far as offer goes, all can be made over the Internet using email, phone, DocuSign and Zipforms etc. As far as driving to the properties is concerned, you can do that yourself. You may not be able to go in (if there is a lockbox) but you can go and look around the area for sure. I always get a chuckle out of agents driving their prospective clients to open houses. If you are getting the feeling that he is pushing you away, get yourself a different agent. They are dime a dozen (two dozen during during off season..lol).  

@Daniel Guas - I just hired someone to replace an attic vent at one of my properties. Just because someone advertising on Craigslist doesn't mean that he is shady or a crook. Responding to response from CL is the first step. Don't give the company/person the job right away. Vet him thoroughly. Ask for references. Go and check the provided references. Also in Craigslist there are people who advertise. Feel free to call them. That's how you can network and develop relationships.

   I found myself in the same boat 3-4 yrs ago, and decided to go with an hybrid approach. I went ahead and got my real estate license and started learning real estate. I closed some deals. Did some rentals. Listed some properties.  To me it was akin to having some bullpen practice before actually taking the mound. Last thing I wanted to do was be an investor and pay someone else commission for transaction. I still may have to do it in limited basis if I invest in capacity that I don't have prior knowledge, or in state where I am not licensed. But for now for the most part, I can save a ton of money. While my main focus is now investments, I still help my friends, families and myself with real estate activities or renting, listing, or buying..

Good luck..At the end of the day, its your decision. 

@Robert Newburn - I suggest that you go back to the lease and see how the lease is written. I always have $100 deductible in my lease, and when they move in, I do a walk through. They have 15 days after the walk through to let me know if there are any issues with the property.  Little things like this which can be caused due to regular wear and tear of living in the property is upto them to fix. If there is any major issue, I will come and fix it. Trust me, when they have to fix some of the things themselves, you will really only hear from them if there is a real issue with the property. 

Also, you need to understand what you are allowed to do and what you are not based on the state laws in your state. VA laws are very landlord friendly.

@Eric Olsen  - Great work Eric. I am sure your hard work will pay off soon.

@Account Closed I looked up Jessica Swingle of Keller Williams (who is the one I suppose was recommended). She is based out of Reston according to her website. Do you know how far Reston, VA is from Richmond, VA? Its over 100 miles (HINT: Use Google Maps). I highly doubt that a realtor based out of Reston covers Richmond area. It is a foolish idea to hire someone who doesn't understand local area. I wouldn't even consult someone based in Alexandria or Arlington to cover Loudoun County.

Now if you made a typo, and actually meant Jessica Jones.. Well.. I would be OK with that. lol