All Forum Posts by: Ika Sargeant

@Nana Twum Okrah I agree with Alan. If the monthly rent is $900 then you are over paying. Check to make sure if you have a cash flow. Finally talk to someone regarding the Baltimore market. I would not count on any appreciation.

@Steve Tartakovsky I just used zillow which is now charging a fee. I posted on realtor.com to see what the response will be. Zillow still produces the best leads. House was rented in a week. Have been using them for more than 5 years. Realtor.com was very disappointing.

Karl B where are your investment in PA?

@Dylon May I am real estate agent and I am not licensed in your state. You just said you are a newbie and do not want a real estate agent. Go get an agent to work with you primarily because the seller is expected to pay for this transaction(this is true in many states, may be not in NC) You will get an experienced person who can help you assess pricing, negotiation and review other matters. If you are new at this, work with someone to walk with you through a transaction and the next transaction you can do it on your own. 

@Cassidy Burns I find our area to be a little frustrating. I focus on Prince William along 95 corridor, and Richmond. I also look near universities and hospitals. Cash flow is everything for me.

@Anthony Triano never heard of the term either. I will say you will find some new construction in the Frederick area. New construction tends to price a lot more than existing homes in our area.

@Michael Leeson I am sure you see how you have touched a nerve. Sadly in this country you can never talk about race in an honest and straight forward way. Most would simply insist on how smart they are or hard they worked. The only problem is that they can not explain how one set of people end at the bottom of an economy. In fact when you discuss this topic with people it becomes a double speak. They are married to the believe that the bottom group is either not smart or lazy. What of the stats that we see that time after time show discriminatory practices? Stats produced by their own govt, i must add. For example we know stats show that an African American with the same  income, debt and credit as their white counterpart will likely get mortgage loans denied. While the white counterpart is approved. Home ownership reflects what takes place in this country every day across board. One thing I think should be considered is how to protect existing African American home owners especially in cities where gentrification is rife. State programs that targets first time home owners are helpful but many people in the community are not aware of them or how to access them.

@Brad Fisher yes the rent will go up. Springfield has access to metro, so its rental demand will hold up. I know Fairfax county taxes will go up but not at the same rate as your rentals. I do agree that your cash flow will be tough especially if you add management but for me its a hold because if I consider your selling  of your current property and buying costs of the new one, then the advantage of the new market with less taxes diminishes. Your biggest play in this area is still going to be appreciation. 

@Michael Karpie I would try Zillow or even local MLS. where is your property located?

@Nathan W. Virginia may be "Buyer beware state" but we have disclosure laws that require this to be disclosed. On the hand if these issue was fixed before hand then you are not required to disclosed anything. If I had a roof leak that was fixed, there is nothing to disclose. However if that information reached the buyer; the best practice is to let them know this was taken care of. Be upfront and provide all the repair work receipts. We do not know what your buyer will do but they will like the fact that you are transparent. If you were the buyer you would be asking the same question they are.