All Forum Posts by: Konstantinos Zaferatos

I would be up for it.  My schedule makes it difficult, but I am in WV at least 2-3 times a month.  

@Anthony Hosea looks like you got the ball rolling with some WV activity.  This may be the most active WV post I have seen.  

@Anthony Hosea Will do.  I do not know Brian, he is a little older than me.  His mom was my gym teacher in high school though.   I see his name a lot though and he works for a good company.  

@Timothy Doenges Small world.   Tell him I say hi next time you see him.

@Anthony Hosea In the MLS that is Area 5. That is the best bet - it has the highest median sales price of the county. If you can keep the final sale price around 150-175 out there you will be just fine. You may also want to try and find something near the new school they are building in Crab Orchard, near Lester Square - that is MLS Area 2. I would try to keep the final sale price there under 150k. These are the two areas I think are best for flipping.   I am an appraiser too and still work the area.  I do a lot more of that than investing now.  I go by Dino by the way.  Who is the Realtor you are working with.  There is another appraiser/investor named PJ Short.  If you dont know him, I would hit him up one day.  He usually has at least one flip going.   

@Anthony Hosea    Hey man, I moved from Beckley about 3 years ago to Durham NC.  I have been on and off here for a few years.  There has never been a lot going on with WV activity.  I dont know anywhere else to look.  There is a WV Landlord Association but most stuff they do is offline.   I think they are based out of Charelston.  

The decline in population you mention is a big one.  Also, there are very few property management companies and they charge more.   The Beckley area properties don't really increase in value and neither do rents.   Days on market in the area are 3-6 months with few investors and thats a factor too.  Where I live now most stuff is 30 days or less a so the properties are a lot faster/easier to get out of when the investor is ready to move on.   

The only stuff I see out of state guys doing are things like Condos at Winterplace or maybe a cabin in Fayetteville or other similar type stuff.  These are all, for the most part Air BB rentals.   

With all that said, you can find some great deals in the area.  All of my properties rent for a least 2% of their value.  It took me about 5-6 years to get everything in place to make it work.  JJM is the company that manages everything for me.  John Smith is my account on Kanawha St.  He is also a real estate investor.  Hire him as your accountant and you have at least one good source in the area.   He is a very smart guy.

@Craig CurelopTry Larrick Law Offices: Address: 321 Neville St, Beckley, WV 25801

or 

Roop & Smith Law Offices Pllc: Address: 114 E Main St, Beckley, WV 25801

@Barbra Thebenyane you could also contact the WV Real Estate Commission and the Attorney General (Consumer Fraud Division)

Hey @Timothy Doenges, I am originally from Beckley and still invest there.   From my experience most people do not want anything to do with investing in WV from outside the state, unless they are from there like me.   A good resource not all people are familiar with is the WV Landlord Association.    

There is a small number of property managers in WV.  I would make sure you have good management in place and back up options or not invest in WV while living out of state.   I used to live in WV but now live in NC.  I have mutli-family in WV and good property management is difficult to come by.  You need great cash flow to make it worth the while because properties do not appreciate much in WV and managing the properties will be aggravating.