All Forum Posts by: Ika Sargeant

@Valerie V. sorry to hear your mom has to deal with all that. Yes houses sell all the time with tenants. This does not sound like there is a lease but even if you have a lease I would start by giving notice that within 30 days we plan to put the home on the market. So start that conversation and see where it goes. I would also tell your relative the house has to be sold and they is no other options. The next question is if there is a lease that means she will be there till the end of their lease. You have to work with them to show the home because some tenants do not like people coming through the home while they live there. Many buyers take homes with tenants but in this situation if it means they will have to evict, then let them know.  

@Adrienne Green I would love to join the virtual meetup.

@Joseph Kelly It is true multis are few around here but I have seen a few pop up in that area because I keep an eye for them all the time. What I have seen is the duplex and 4 units. As far as I could tell the prices are rising even in places like Front Royal. Yes price does matter if you expect to cash flow. Some people might say it does not matter ten years from now when that property has appreciated. I suggest you find out vacancy rates and the strength of the rental market. I imagine you get people who work in DC and Northern Virginia who live up there but its a good hour on route 66 to Washington DC on a good day.

@Rachael Osborne I can understand how you have that AP after reading this thread. There are too many voices and ideas. Nothing wrong with advice you are getting and nothing wrong with learning as much as you can. Someone suggested buy your own home. That is the best place to start; as a home owner. You will go through home buying processes such as getting a loan and negotiating on your home. you will build your confidence. You will learn that what you are learning is not an end in itself. You are likely never going to reach a point of knowing everything there is to know. That information is simply your compass but not your destination. Besides real estate information changes fast. A neighborhood that is out performing this year might be flat next year. So you will never get off the learning train but you can start

@Christian Luong I could share one with you. Sent you a message.

@Jonathan Pflueger I would love to move into the space of small commercial real estate. What is the most critical lesson from doing this deal?

@Vinh Nguyen Yes I usually send a reminders if one of the tenants have not paid the day before late fee is charged. All of them pay on time and I like the fact that in addition to my own accounting I can track the zelle payments. The best investment is making sure you get good tenants to start with. 

@Vihn Nguen there are lots of Platforms. Now I use Zelle and Apple Pay because I heard they are more secure. I used venmo and then migrated to these two platforms. Lots of platform do collect rent but some will charge for this service.

@Michael Akinyemi I suggest talking to a lender and get an idea of the costs associated with buying a house and all that will be required. Find out how much they can lend you and what else you could do to improve on the rates they offer you or the amount for the loan.

@Andrew Pettit yes house hacking is possible in Northern VA. A couple of years I did not see so many room rentals and now they are really a thing. Rentals have gone sky high and many can only afford rooms.