All Forum Posts by: Levi T.

I would recommend using a flip or hold model. If you need cash you flip or unload your "buy and hold" assets, otherwise keep buy and holding till you need to release some capital to make your next deal. A good percentage of people that do the buy and hold will sell off their lower performing assets for new ones, that way they are hopefully improving their cashflow position moving forward.

If your lacking cash for the flip or hold, get a partner. Partners are everywhere in this industry, plus when you get a good deal, you will quickly find partners, likely a friend of yours. Find a house, get a partner, flip it, then you will have cash to go do your next deal on your own. With a good deal, you will no only make great money, you will also have a new partner whenever you need them.

Wholesaling is real estate arbitrage. They get a contract with the owner that allows them to assign it to someone else, then they mark it up and try to sell it at a higher price to you. You can negotiate it lower deal if you want. Some make a few thousand, others make a lot.

I'm not a CPA, but I've dealt with this. You need to get your rentals to be capital gains, you can do this if someone else is managing it, or it's automated type thing, just like a stock investment. There's a lot of thing you can do, but your likely going to have to see a few CPAs before you find one that can help you out. Go find a large CPA firm, and avoid the smaller ones. It's complex road.

I'm with David Hines , use the courts, and get a judgment and collections on them. You have the right, slam dunk case IMO. Stop kicking the can down the road, tenants breach your lease, evict them, don't keep letting them get a few extra days on anything. Sounds like you need to do better screening on the incoming applicants, unless the property is in a slum. It's better to evict fast in this business than it is to give someone more lead way to run you over.

I'm interested in learning the results.

Had a batch hit today, so I'm also posting it here. If anyone is interested.

I always post them to the mailing list, sometimes these forums. I don't make money on it, it's just good business. If you see a deal you want, just let me know and I can put you in contact with the seller. If you want the deals emailed to you, join my list: http://eepurl.com/bURInb

I'm personally looking for 10-70 units, if that's a string of SFH or Apartments, and Apartments in the 100-300 unit range. All within NOVA, from the Richmond to DC area. All must be class B-C, in a A-B area.

If you have none MLS properties you want to move, let me know and I'll post it to my list, no charge, no catch. Happy hunting!

Property	Jurisdiction	Sale Price	Rent	Notes
239 Deacon	Stafford	$295,000	$1,900	SFH. 2400sf 4 bed 2 bath. 1/2 acre.
6105 Kidwell	Spotsylvania	$85,000	$750	Trailer on 2 acres.
113 Mountain	Stafford	$210,000	$1,350	SFH 3bed/2bath.
15 Leeland	Stafford	$185,000	$1,301	SFH 3bed/2bath.
2407 Lafayette	Fredericksburg	$185,000	$1,350	SFH 3bed/2bath.
1137 J.M.	Stafford	$155,000	$1,230	TH 3 bed/2bath.
405 Hamilton	Spotsylvania	$150,000	$1,265	SFH 3bed/2bath.
252 McCarty	Stafford	$250,000	$2,250	Duplex 2bed 1 bath and 2bed 1 bath.

Best,

Why not, just form LLC that owns the property, then have the two other LLCs own their percentage of that LLC. That's how I would do it.

It's for emergency, if the unit quits working, it insures you have basics heat so you don't freeze to death. It uses a electrical heat strip, and I've seen tenants turn it on and not understand what's happening, thus running up the electrical bill big time.

I'm looking for deals; String of SFH or Apartments 10-70 units, apartments with 100-200 units, in Norther Virginia, Richmond, Charlottesville, Fredericksburg, Manassas, Woodbridge, Quantico, Stafford. Class B-C properties in a A-B area, with rents below market. I'm also looking to network with those with any and all deals for single, quad, triplex, that have solid returns so I can pass them to my growing network emailing list for local deals. Add me to your list, connect, shoot me a PM if you know of any deals in these zones. Best

Tenant likely had the emergency heat running, which eats electricity alive. Seen tenants run the bill way up doing that number.