All Forum Posts by: John Napier
John Napier has started 5 posts and replied 31 times.
Post: Wholesalers required to have license in VA

- Professional
- Virginia Beach, VA
- Posts 36
- Votes 16
This could bring litigation, as a lot of new laws do, and then the courts may clarify. But from my reading, this does not prohibit wholesalers who do things the right way in VA (i.e. have the property properly under contract before trying to assign it) from continuing to do business.
Post: Wholesalers required to have license in VA

- Professional
- Virginia Beach, VA
- Posts 36
- Votes 16
If the intent was to cut off wholesalers from doing more than two deals a year, I do not think this accomplishes that end. When someone is a buyer on a contract they have equitable title, which means they have an interest in the property (in VA). It does keep the daisy chain method from being utilized, but that was never legal in VA--I expect that this law is making that explicitly clear. If someone is under contract as a Buyer, they should be able to wholesale the deal, since they have an interest in the property as the Buyer. If they are not a party to the contract, they cannot market the deal without a license (and never could, under VA law, though that does not mean they do not try--but they should not be getting paid for something they have no interest in by a closing company).
Post: In Need Of A Real Estate Attorney Virginia

- Professional
- Virginia Beach, VA
- Posts 36
- Votes 16
Thanks, @Patti Robertson for the mention.
Post: In Need Of A Real Estate Attorney Virginia

- Professional
- Virginia Beach, VA
- Posts 36
- Votes 16
@Lee Bailey feel free to direct message me and we can discuss your situation to see if we are able to help.
Post: Seeking Recommendation For Virginia Beach Property Manager

- Professional
- Virginia Beach, VA
- Posts 36
- Votes 16
@Mark Yap I think it would be worth reaching out to @Patti Robertson about management needs. She has a management company and is an incredible resource.
Post: Buy & Hold into STR in Virginia Beach, VA

- Professional
- Virginia Beach, VA
- Posts 36
- Votes 16
@Patti Robertson Thank you for your post! We are just on the edge of the overlay zone in VB, luckily.
Post: Deal Diary of 8 Unit property in Norfolk Virginia

- Professional
- Virginia Beach, VA
- Posts 36
- Votes 16
Douglas, this is fantastic. Great job to you and your team. The Ocean View area is amazing. Did you do the renovations in-house? Or did you contract out the work to other companies? We are local RE investors and would love to connect.
Warmly
Post: Systematizing our Portfolio

- Professional
- Virginia Beach, VA
- Posts 36
- Votes 16
@Allan Smith thank you so much for your response! Right now we are trying to streamline 1) Lead generation and 2) Property Management. Our portfolio is not big enough, yet, to begin using systems like Appfolio. As we grow this year, we want to have systems in place that allow for sustainable and healthy growth rather than building the plane as we fly it. We will have to begin delving into more software this year, most likely.
Post: Buy & Hold into STR in Virginia Beach, VA

- Professional
- Virginia Beach, VA
- Posts 36
- Votes 16

Investment Info:
Small multi-family (2-4 units) buy & hold investment.
We bought and are currently working on this fun multi-family deal a couple blocks from the oceanfront in Virginia Beach. We are working closely with a company that renovates and manages short-term rentals who we love and trust.
What made you interested in investing in this type of deal?
Virginia Beach is an amazing market and is was a deal we couldn't pass up. We love multi-family buy and holds and love the Virginia Beach/ Hampton Roads market.
How did you find this deal and how did you negotiate it?
I connected with the owner a couple months prior simply through friendship, and he called me up and said he wanted to sell and asked if we wanted to buy. Life is all about relationships.
How did you finance this deal?
Private Financing
What was the outcome?
We are in the midst of remodeling and transitioning it into a Short-Term Rental.
Lessons learned? Challenges?
Always have a good network of people in your corner. Be kind towards everyone you meet, mainly because it is the right thing to do, but secondarily because you never know what those friendships can hold. Always have a network of contractors that you trust and love. Have good relationships with the city.
Post: Systematizing our Portfolio

- Professional
- Virginia Beach, VA
- Posts 36
- Votes 16
Good afternoon from Virginia
We are in the process of systematizing our portfolio as we are building and growing. In doing so, we are in the process of developing a good system of go-to templates and processes in order to streamline. 1) What have been some must-have cogs as a part of your deal-flow machine (for my excel lovers). A good proforma is priceless, market comps, T12 from sellers, underwriting, etc. Anything else?; 2) If anyone has any templates they absolutely love, we would be extremely grateful to have those shared with us as we begin to create/evolve our own based upon our companies' needs. Thank you in advance for your responses!
Blessings