All Forum Posts by: Danielle Bulla Isenhour

@Vanessa Roca

Try a duplex as your first property and your tenant pays most or all of your mortgage. If the other side is vacant, you just pay your payment as you would anywhere else. I personally wouldn’t let the tenant know that I was the owner just in case things went wrong.

The Virginia Beach, or Hampton Roads market is great for a BRRRR. I am working on 2 BRRRR's in Chesapeake, VA right now.

@Jason Gilmore

Awesome advice!

@Justin Jones

Hey there,

I would focus on getting your primary residence first, or maybe look into getting a multi-family (less than 4 units). This is a strategy that few use, but it's an option (depending on the property condition) that you can use your VA loan for. Hampton Roads has many great multis within walking distance to beaches. Occupy for 2 years, have your tenants pay your mortgage and set yourself up for a primary single family residence.

If you’re looking into condos, the bylaws on many will not allow short term rentals. Be cautious of that!

Best of luck to you.

@Mike Celli

We have a ton of wholesalers here in Virginia Beach, Chesapeake, and Norfolk, VA. Check out various Facebook groups to connect.

@Chris Odell

Welcome to BP!

Congratulations and thank you on 12 years of military service, just 8 more to go for retirement. Sorry to hear that you overestimated on rent in Virginia Beach. The rental rates here are usually pretty solid. Glad that you were able to sell and at least break even. Best of luck on your real estate journey and I hope you’re enjoying FL.

@Cameron Rockwell congratulations! What a success story. I love when veterans can leverage their VA loans and make smart decisions like this one.

@Derald Frazier

You’re welcome!

@Derald Frazier

Welcome! Glad that you’ve decided to dive into real estate.

If you are okay with virtual learning for your real estate license, I’d suggest Kaplan College of Real Estate.

Try some of the investor FB groups to help get motivated and learn from others.

On books:

Rich Dad, Poor Dad

The House Hacking Strategy

Buy, Rehab, Rent, Refinance, Repeat

Check out the Bigger Pockets book store.

Best of luck on your new journey,

Danielle

@Michael Gil

I have a client that only purchases condos & townhouses in VB and she always has positive cash flow. She and her husband sweat equity renovations and only hire contractors for major issues. Her strategy in VB has worked, but she flips house and is very familiar with budgeting and planning renovation projects.

I think there are plenty of great deals right here in Hampton Roads, and we have a secure rental market because of all of the military turn over.

Try Chesapeake! I’m closing on an off market deal today! It’s in the Portlock section of South Norfolk. Right off of I-464 and very close to the ship yard. We plan to renovate and rent out. Paying $72,500, plan to put $40,000 in to renovations. It should appraise for $200K. We will be pulling all of our cash out and an additional $30K by pulling a mortgage on it. We’re estimating $200 positive cash flow if we get rent of $1,400 per.

@Helen Sissel,

Welcome! Do you plan on just investing in rentals? There are different investor groups for wholesale, flips, buy & hold, and everything in between. One of my favorites is Hampton Roads Real Estate Investors. There are a good amount of posts and comments in that group. Also, several hard money lenders & contractors that many of the group members have used personally and professionally. I’ll look you up on FB and send you an invite to some of the groups that I’m a member of!

Stay safe,

Danielle