All Forum Posts by: Kristopher Kyzar

I use Red Rabbit for my properties here in Hampton Roads, but for my SC properties, I have USAA. 

@Patti Robertson all of the properties I've converted from Primary Residence to rentals, I've seen my insurance premium cut in half for each of them.  

@Elijah F. Good analysis. One thing to consider is that once you move out, you can switch your insurance from a homeowners policy to a landlord policy, which would reduce your insurance costs. That would take about a year to show up in your mortgage payment (after the annual escrow analysis), but it’s definitely a plus. Are you planning to self-manage? Management is an expense I always account for.

@Account Closed most of Virginia Beach and Chesapeake is strong in both value appreciation and rent growth. It seems to be the most desirable parts of Hampton Roads, and is very suburbia. Norfolk is also solid, and there tends to be a lot of investor activity there, though it is more urban than VAB or Chesapeake. You'll find there are a lot more areas in VAB and Chesapeake with HOA/POAs as opposed to Norfolk, but as long as your numbers work with those, it's still a great area to invest.

@Jennifer Beatty if you’re planning to wholesale, your seller leads will likely know the market is hot and be expecting a little more, but there are still deals to be found.

If you're planning to flip, finding deals will be a challenge, but with the market the way it is, selling is less so, and your ARV pre-flip may not be your ARV post flip (in a good way). Like @Patti Robertson said, be prepared to move fast, and possibly pay more than you'd like, but don't compromise your integrity by doing LSOAP flips. Those benefit no one.

If you're planning to BRRRR, you'll also find it difficult to get solid deals, and you may need to be okay with a less-than-perfect BRRRR with some money left in the deal. Good news is appreciation is strong, and getting tenants isn't as difficult because there are more of them than inventory. I've added 4 rentals to my portfolio in the past 6 months, so they're out there.

Come chat about real estate investing, over some beers, with like-minded individuals.

@Austin Green Franklin is a lovely little town in a fantastic area.  I would definitely look into seeing if there are any AirBNB arbitrage companies operating in the area that may be willing to take it on.  The nice thing about the arbitrage business model, is the companies usually pay you a monthly rent, and then they handle all of the AirBNB stuff.  It's not quite as profitable as doing AirBNB yourself, but at least it's a stable income.  There are lots of articles out there about it. https://www.hostfully.com/blog...

@Caleb Stewart there are a few good ones there. @Russ Scheider is really good. There’s also Rock Rei Real Estate, TurnPro Properties, and Barrington Acquisitions.

@Kyler Venson welcome to the wonderful world of REI! There are several groups in Hampton Roads who do regular meetups. If you search the events section for your area, you'll see some of them posted here on BP. There are also several who have Facebook groups as well. Just search for Hampton Roads on Facebook and several will show up.

Come out and network with a fantastic group of Real Estate Investors as we go through the ins and outs of deal underwriting.  We'll cover various different deal types and hear from experts in their field of investing.