All Forum Posts by: Dawn Roy
Dawn Roy has started 10 posts and replied 76 times.
Post: Can Someone Not on Mortgage be on Deed?

- Real Estate Broker
- Midlothian, VA
- Posts 76
- Votes 41
Yes, you don't have to be on the note (mortgage) to be on the deed. One has nothing to do with the other. The easiest way to do this is to have all parties on the Offer to Purchase. The title company will use this information when preparing the settlement documents. Cheers!
Post: Coming Soon......Scott's Addition Airbnb

- Real Estate Broker
- Midlothian, VA
- Posts 76
- Votes 41
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $245,000
Cash invested: $75,000
New Airbnb to come to Scott's Addition. Great off market find that we have completely renovated and preparing to put on the Airbnb platform. Who doesn't want to walk to some of the best breweries, distilleries and restaurants in RVA? Anticipating going online early spring 2023. Don't you just love the color for the front door....Rachel Pink by Sherwin Williams!!!

Post: Off Market Find for Quick Flip

- Real Estate Broker
- Midlothian, VA
- Posts 76
- Votes 41
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $248,000
Cash invested: $20,000
Sale price: $395,000
Super quick turn on a great brick single story home that needed only basic updating. Off market find. New kitchen countertops, fresh paint, updated lighting, new carpet in bedrooms, LVP in laundry area.

Post: From Horder House to Investment Gold

- Real Estate Broker
- Midlothian, VA
- Posts 76
- Votes 41
Investment Info:
Single-family residence fix & flip investment in Chesterfield.
Purchase price: $190,000
Cash invested: $60,000
Sale price: $306,000
This was a hoarder house with great potential. Once everything was cleared out, the bones were great. The best feature is the huge screen porch. It was only a covered porch but once we screened it in, it became a wonderful focal point for this home. A real diamond in the rough.

Post: Ready to Finally Dive in to REI in Richmond

- Real Estate Broker
- Midlothian, VA
- Posts 76
- Votes 41
Post: Highland Springs Hoarder House

- Real Estate Broker
- Midlothian, VA
- Posts 76
- Votes 41
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $114,000
Cash invested: $45,000
Sale price: $285,000
Off market hoarder house including two boats on trailers and a big block engine in the back yard. New Kitchen, roof, deck, flooring throughout, interior paint, HVAC, water heater and appliances. Quiet neighborhood near the Richmond Airport.
Behind the scenes: the renovation went quickly but the FHA buyer had some hiccups and took longer to close than expected. Nonetheless, she closed. Happy New Year 2023!

Post: About to buy our first fix, rent and refinance.

- Real Estate Broker
- Midlothian, VA
- Posts 76
- Votes 41
Here are resources for you here in Richmond:
Management: https://www.padgettpropertiesv...
Appraiser: John Foster 804-216-6288 ( I have others if he is busy)
Real Estate Lawyer: Heath Gates (Cowan Gates) 804-320-9100 or Aurora Title 804-729-9005
Inspector: You didn't ask for one but you should have a good one available to you. I highly recommend Chuck Branch with Pillar to Post. 804-928-1607
*1031 will come into play when you sell your investment property.
Cheers!
Post: Good locations in Richmond

- Real Estate Broker
- Midlothian, VA
- Posts 76
- Votes 41
There is a good article on BizSense about how the city is trying to revamp their STR policies.
https://richmondbizsense.com/2...
We are still very competitive on pricing even with the higher interest rates slowing down the traditional buyer. This scenario will, however, open a lane for investors to fill the gap in housing by providing quality rentals and renovated homes. Off market properties will give you the best options for your portfolio.
Cheers!
Post: Realtor Fees Higher Than First Stated

- Real Estate Broker
- Midlothian, VA
- Posts 76
- Votes 41
Jon,
What is stated in your buyers agreement is what all parties are committed to. If your agent had a 2K minimum fee, then that would have needed to be outlined in your agreement and signed by all parties. At this point, you are committed to 2.7% of 40K and nothing more. Good luck.
Post: Looking for small multi-family in Chesterfield & Petersburg VA

- Real Estate Broker
- Midlothian, VA
- Posts 76
- Votes 41
Tommy,
I am a resident of Chesterfield County and work with investors as well as invest throughout the Richmond Metro area. Let me know how I can assist you with adding to your portfolio in the Chesterfield/Petersburg areas.
Cheers!