All Forum Posts by: Jacob Sloop
Jacob Sloop has started 12 posts and replied 252 times.
Post: How to Leverage with Cash Offers
- Rental Property Investor
- Virginia Beach, VA
- Posts 267
- Votes 111
Talk to a local lender.
Cash out refi or HELOC
Both have fairly high rates currently so make sure the payments work for your strategy ahead of time.
Also is this your primary residence? HELOC's on rentals/non owner occupied properties are getting rarer these days.
Post: Private Lender and where to find one.
- Rental Property Investor
- Virginia Beach, VA
- Posts 267
- Votes 111
Not having a lot of capital is not a great position to be in trying to buy real estate, especially rental properties. Having the proper amount of reserves is very essential to being successful. This is an unpredictable business sometimes.
That being said if you have a good enough deal, you can find the money. Find other local real estate investors and offer them some equity in your deal.. best place to start
Post: I’m new and ready to move forward
- Rental Property Investor
- Virginia Beach, VA
- Posts 267
- Votes 111
Welcome! BP is the best resource on the web !
Post: How did you fund your first deal
- Rental Property Investor
- Virginia Beach, VA
- Posts 267
- Votes 111
Owner occupied duplex, conventional loan 5% down !
Cash flowed for years and when I sold was the spring board for future investments
Post: Rental Price Growth Pace Slows Down Considerably
- Rental Property Investor
- Virginia Beach, VA
- Posts 267
- Votes 111
Thanks for sharing.
They certainly couldn't continue at such a rapid rate increase!
Post: New Investor looking to network and grow.
- Rental Property Investor
- Virginia Beach, VA
- Posts 267
- Votes 111
Welcome and congrats on your duplex!
I'm an active investor and agent in the Hampton Roads area, always free for a chat or lunch.
There are plenty of meetups in the area TRIG, think real estate team, hopportunity, landlord association like patti mentioned
Post: Ready to purchase first investment property, but not sure which
- Rental Property Investor
- Virginia Beach, VA
- Posts 267
- Votes 111
Hey alex, I messaged you. Id be glad to help you out, I've been in the area 37 years ;)
Post: STR Insurance Quote Estimates
- Rental Property Investor
- Virginia Beach, VA
- Posts 267
- Votes 111
hey Bryan, I sent you a message! Would love to help if I can
Post: Chesapeake VA Is my rent ask too high??
- Rental Property Investor
- Virginia Beach, VA
- Posts 267
- Votes 111
Heather, Mel tracks these MTR's in the area and would be more than happy to help you I'm sure !
Post: Chesapeake VA MTR Input on Rental Amount
- Rental Property Investor
- Virginia Beach, VA
- Posts 267
- Votes 111
Sorry to hear this is not renting as you had planned!
Its a beautiful property.
So it sounds like you had planned it as an STR?
I think honestly its the location that could be killing it.. even though greenbrier is certainly a desirable area its not close to the hospitals and bases that I think alot of the MTR customers are looking for.
Does it work as a long term? I think you would have zero problems getting a long term renter in this property.