All Forum Posts by: Sanju Varghese

Krista, 

Can you please email me at [email protected] with the details and address for the property. Thanks in advance. 

Sanju

Hello All, 

Overall, I am trying to transition from my 9-5 to purely real estate investing.  I am looking for some advice to organize my thoughts/goals into a strategy.  Here is some other general background. I am only stating this to see if there are ways to leverage my existing assets for investing. 

1. I own a townhouse that I live in, and have been airbnb'ing and soon it should cover the 15 year mortgage that I refi'd in 12/15 with a payment of $2750. The house was purchased in 2006 for $504k, and I owe about $307k now (zestimate is $454k).  The area has been growing a lot lately, and I expect that it will get back to the pre-crash value and possibly higher in the next 3 years. 

2. I own a condo in Florida free and clear (zestimate is $384k), which I am renting for $1900, so a cashflow of about $1150/month

3. I own 2 pieces of land free and clear in North Carolina, off the Currituck Sound, both right on the water. I paid around $350k, with the hopes of building two houses on these properties, and just got a bit distracted with work. 

4. I have roughly $250k to invest aside from the above

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The following are my goals. 

1. Buy a new home in Northern Virginia, preferably Arlington County, which seems to be rising in value, and closer to DC, my parents, and the airport. 

2. Rehab houses - My goal was originally in the Northern Virginia/Maryland Area, but the market seems to not have many properties, especially anything close to the 70% ARV - Reno Cost formula. I have been looking in Atlanta and Florida, since I have family in both areas, and seem to be most likely to be within my budget if I just use only my funds.

3. Acquire rentals for passive income - either through turnkey or BRRRR. I would like to get to the 10 possible loans before transitioning from my 9-5.

4. I would like to wholesale at some point before going to purely passive (way down the line), but that isn't my immediate priority. 

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Essentially, my goal is use to my good credit / income and current assets to get into real estate investing, replicate my current income, and move full time into REI and maximize ROI.

Thanks in advance for your help and guidance. 

Sanju

Thanks to everyone for the great ideas so far!

I've heard of skip tracing but don't know much about it. How would I go about finding a skip tracer? Does anyone have any recommendations?

Hi everyone,

I'm a new real estate investor and have found some vacant houses that definitely need to be rehabbed. I want to send direct mail to the owners of the houses to connect and possibly negotiate a deal.

What is the best way to find the most up-to-date owner information and their corresponding current address/contact info?

The vacant properties are in Baltimore, Maryland as well as Falls Church, VA.

Thanks in advance!

Sanju