All Forum Posts by: Sean Price

Thank you all for your reply. 

@Greg H. Thank you for the offer regarding the asset manager. I remember reading in one of your previous articles that there was no advantage to putting a higher EMD than required. I wasn't too sure which way to go so we did 1% of the offer price, which came out to only $540k once we calculated repairs (so $5400 EMD). I think the chances of the buyer winning the property are very slim, in our market here in NOVA even properties needing rehab are ending up in multiple offers and going over ask. I predict this property will go closer to $700k. The ARV is around $800k so it looks attractive to most, but it needs at least $150-$200k in rehab to get to that value.

With your response, I realize that the EMD of $5400 is still too high, I will certainly keep this in mind for the next deal. Thank you again for your time!

Good morning all. I am an agent writing an offer for a client of mine on a HUD home. The ask price is $630k. I've never done a deal through HUD homestore before. I read an article saying that properties under $50k was a $500 EMD and properties over $50k was a $1000 EMD. Is that accurate or should my client expect to put more money in as an EMD? Any advice is appreciated.

@Kenny Carter  That is interesting regarding the flips.  The pricing in Arlington was crazy, even when investors are popping the top they are looking at $400 to $500k to rehab etc.  You were right about the counties, we fell in love with Loudon county while we were up there! 

@Mike Warder are you actively investing in that area?  We fell in love with Loudon county and would love to start exploring investment opportunities in the area, including Alexandria, I ran into a few people in the service industry that said they lived in that area.

@Dave Ramirez we accidentally happened upon Ashburn and fell in love with it.  Looking at houses in the Willowsford Properties.  High cost on the properties so really interested in starting to invest in the area to get ready to get moved up there.  Are you actively investing in Ashburn?

@Christopher Hauser let me know if you get a group started.  I would like to start getting involved in the area.

Hello all,

I am a Chiropractic Physician and real estate investor here in Florida who is considering moving to the Arlington VA area to expand my Chiropractic practices and continue investing in Real Estate.

My main approach in Real Estate right now is Flipping combined with buy and hold.

Our goal is to move up to the area of Arlington VA (or surrounding areas) in June of 2019.

My wife and I are coming to the area for 4 days over Columbus day weekend (next week).  I would love it if someone familiar with the area could give me some pointers on the areas that are best to explore for investing as well as best for living.  I will be moving my family up so schools are very important.

Thank you in advance for any advice that you can share.

Sean

@Brandon McLean thank you for the information.   The more I am learning the more we are decided to stay away from RI. Thank you for the final nail in the coffin!  :)

@Jaysen Medhurst I just read this post to my wife and she said she meant to ask me about that area.  You say you love it, that is wonderful.  We will definitely have to look into it further.  How is the realestate market there for both investing and potentially working as an agent.   You have me intrigued.  I look forward to hearing back from you!

@Steph C. @Anthony Thompson

Thank you both so much for the info.  Make sense as far as the life in Providence and the commute to Boston.  I didnt realize the two were so close.  We are also checking out Boston specifically and we are actually flying into Philadelphia over labor day to check that out as well.  Our end game is to end up in Manhattan but that is too big of a step right now.

Thank you both so much!  I will get in touch if we end up that direction.

@joel owens thank you for the input.  I think I will get in touch with an attorney and start a paper trail.

Thanks again.

@anthony Thompson Thank you so much for the information.  How is it to live in Providence?  Outside of investing.  We are moving from a smaller town here in florida (about 70K) and wanting to get up to the North East and eventually into Manhattan.  We were pretty set on Providence until we came across some information last night which was that the median income was only around $40k ish.  One of the reason I am wanting to move is to get away from the limited income potential in our area.  Is this the case in Providence?  I am concerned about moving to another place that has the same ceiling income.  (When I am referring to income, I am referring to my income as a Chiropractic Physician which is what feeds my investing).

Thank you so much for your time!

I am planning to move my family to the Providence Rhode Island area in about 2 years.  How is the market in that area for investors as well as for Real Estate Agents?  Are there any little towns around that I should focus on?

Thanks in advance.

Sean

Along with diving into the realestate investing world, my primary job is I am a Chiropractic Physician.  I am having an issue with my office that I lease in that I have mold in the office (has been confirmed through a mold removal company coming and and evaluating).  The mold is not black mold, but the office has a very strong musky smell that gets worse as we get into the summer months.  

My question is this, the owner of the building denies the existence of an issue and has done nothing to remedy the situation.  What recourse do I have to force the repair of the situation?  Can I withhold rent until the situation is remedied?  Can I threaten to move and have them carry expense since they are not providing a sanitary office?  

I am in Florida and I am not sure what my rights are with this situation.  Thank you in advance.