All Forum Posts by: Dawn Roy

Great advise all the way around.  There are several great investor groups in the RVA area that you should check out.  Multi-door like a duplex is a great way to get started.  Good rental property is a scarce as the retail market is for housing.  Bigger Pockets is a great way to get connected.

Cheers!

I have a great not just a good, STR management resource for you. Feel free to reach out for that contact information.

Cheers!

I would suggest considering a duplex in Richmond for this price point. Townhomes are nice because of the low maintenance involved, however the HOA is something you need to factor in. I have come across some very nicely renovated duplexes for 400K-. Good cash flow with options to use them as STR, MTR or LTR.

Good Luck and Cheers!

John,

There are several amazing investor groups and meetups in the RVA area.  Congratulations on your desire to be in the investor space.  

Cheers!

Yes, owner financing is still a mortgage with terms that you arrange directly with the seller.  Sounds like you have great counsel and have boots on the ground.

All the best to you in your continued search.

Cheers!

I like your well thought out questions regarding buying here in the RVA market.  As you already know, we are a very competitive market.  I have a couple of suggestions, if you will.  First, there is an amazing investor community here and we welcome all.  Second, I think buying buying something that needs TLC provides an opportunity for equity PLUS having a roommate will help offset expenses.

Your stated budget will mean a fixer in our market depending on amenities, etc.  There are options that come across my desk daily from wholesalers and some have potential owner financing.  More than happy to explore this subject with you more if you choose.

Cheers!

Investment Info:

Single-family residence other investment in Montgomery.

Purchase price: $245,000
Cash invested: $75,000

New Scotts Addition Airbnb. We are so excited to get this one done in time for your spring enjoyment.

Book your stay now: https://bit.ly/UnbeLeighvableAirbnb

Follow the pink door to the amazing world of Scotts Addition! Thank you to my friend Brian for hosting my first STR.

What made you interested in investing in this type of deal?

Have been wanting a property that would fit the STR profile and this one is it.

How did you find this deal and how did you negotiate it?

This was an off market deal. This connection came through Facebook, of all places.

How did you finance this deal?

Credit line/cash.

How did you add value to the deal?

Total interior renovation

I highly suggest connecting with several networking groups in our area.  The knowledge base here in RVA is wonderful.

There are many, like myself, who stay connected with the people who are doing terrific things in the investment space.

Cheers!

The best title company in this area is Aurora Title.

804-729-9005

Keineth,

Both options are doable...the question is, which would monetize better?  Can certainly have a conversation with you in more depth if you are interested.

Cheers!