All Forum Posts by: Priscilla Quintana

@Ben Guttman Thank you! So essentially I would send you addresses and you could provide what the rates would be? I am assuming its not a standardized % or dollar amount i can generally plug into my calculations like I could with vacancy rates, etc?

Hello BP! Shout out to all VA investors... hoping to gather some advice. I am looking for a SFH or Duplex in the Norfolk/Virginia Beach area to buy and hold and/or AirBNB. Preferably under 180k.

Research has let me know to avoid flood zones but i am finding that EVERYTHING is in "flood zones"! 

My question is- should I avoid flood zones at all costs and keep searching? Or should I get quotes for flood insurance and factor that into my calculations? Also, if i find a property OUTSIDE a floodzone... is it still a best practice to get flood insurance regardless as a form of protection?

The FEMA website is kind of confusing.... everything i seem to plug in shows up in the blue segments which I am guessing means its a flood zone right?

Many thanks! 

@Melanie mcd

@Melanie McDaniel Saw that your MeetUp is on August 5th... Im so excited because I will be in VA that week so I can attend! I look forward to meeting you there!

@Tracy D. Garrett-Numa thank you!!! I am going to be patient and keep looking. I didnt get the vibe about areas being bad once I was around there so as long as I can find a cash flowing property out of a flood zone i am not too scared to get started. I have waited way too long and know the hardest part is getting started! Just need to get the right team going and be patient and diligent. Hoping to be able to attend a meetup next time I am out there at the end of this month. Appreciate all the input and replies so much.  

@Patti Robertson thanks Patti! I see that you’ve been fairly active within that area so you’re advising to avoid for now due to the market changing? When I visited I didn’t get the vibe that those neighborhoods were sketchy.. if anything I thought that having a strong base of military tenant pool would help alleviate that along with families coming out to visit those serving. Most of the Airbnb’s were booked which led me to believe it would be a good area for that too.... do you think more inland like Richmond would be a better option??

@John Corey I’m a sales manager in a fast paced corporate world. So working with people is my strength along with managing projects and staying organized. I can decorate but not creatively... I more so copy inspirations from

Others! I’ve made 6 figures consistently the past few years but I’ve spent most of it on high rent, leisure & travel to be honest so only have about 40k liquid for a conventional downpayment on a 200k property. This is why the Virginia market is so attractive to me. I read in the forums that properties were cash flowing 2 years ago and that it was a great market for that but after reading some of the replies it seems as though that may be changing which is disheartening!

Hello BP! I am hoping to breach the condition of paralysis by analysis and finally get started on my highly anticipated/researched venture into long distance real estate investing. One of my biggest holdups was choosing which market to invest in but I think I can finally past that hurdle! My boyfriend lives in Norfolk as active military and after visiting the area and researching further I realized this could be a great cashflowing place to start especially if I keep visiting the area and move out there next year. This market is nothing like San Diego (where I currently live!) and being able to physically see the area first hand gives me the peace of mind to want to pursue investing out there as long as the cash flow numbers make the sense.. which seems to be the case out there! I am in the market for a duplex-quadplex for around a 200k. I'd like to potentially airbnb one of the units and rent out the other(s). Hoping to get a bit of advice from any investors in the area on a couple of pending questions:

1. Flood zones- I hear its a problem! Im struggling with deciphering the flood zones maps and determining which areas to avoid. Looks like most just have a search bar for specific addresses to see if they are in a flood zone. Are there more general areas that are known to avoid? If a property isnt in a flood zone do I still need insurance? Does flood insurance kill cash flow and am I making a bad decision by wanting to invest out here? Based on my research seems like the Ghent, Edgewood, and Lakewood areas seem to be the most desirable. 

2. Looks like the city is going to enforce Airbnb hosts to get licensed and pay taxes on rentals starting in 2019 but its not strictly enforced yet. Are there any current Airbnb investors in the area that can shed light on this?  

Any help would be greatly appreciated!!! Also welcomed would be referrals to local realtors experienced in working with investors and bonus if they are familiar with military investors as well(bf looking hoping to use VA loan to purchase MFL in the near future as well)