All Forum Posts by: Sean Ploskina

Thank you @Fawn Deitsch !

Does anyone have recommendations for a property management company that operates in Arlington, Virginia?  Only a four unit building but I am remote and will need nearby help.

Thank you!

@Patti Robertson Please note my comment was from 4 years ago

I believe there is a 39 units mostly 2/1s property sitting on the market now in Waynesboro for a little over 2 million so 3 million for an extra 10 units would be higher than the market.

@Daniel Devin Jewell  Before making an offer have you driven by, compared their rents to the rest of the market, tried to see their books(maybe/maybe not), or get reasonable local costs to operate(water, repairs, vacancies, building power, lawncare/snow)  

Those kind of numbers will help you make an informed offer.

I agree with @Bill Hampton.

These days everything is virtual anyway so a specialist in real estate taxes is more important.  

Brandon Hall at the Real Estate CPA.  has been on the BP Podcast and I have been with him for several years with great results.

Harrisonburg is significantly less expensive to purchase than Charlottesville.  The rents are higher in Charlottesville also but it comes with more restrictions inside the town itself.  

@Olga Kostrova  With this market you might be better to spend a lot more time educating yourself on the region and areas you do and do not want to invest so when you see something you can move quickly.  Real Estate is a long game and you are very excited but take your time before you jump into something you can't recover.

@Andrew L.

It sounds like you need to talk with lenders to see what you will qualify for and what your payments would be in different scenarios.  

@Andrew L.

Consider a FHA or other low down payment loan. They are generally for an owner occupant and their rates would be less than the 5.25% you mentioned earlier. You would have mortgage insurance to pay but just take that into the equation. Nearly all lenders do FHA loans so check with them about the details.

Well technically its considered a sale so in theory the bank could claim that and accelerate. But I haven't heard of it happening in these types of cases. You will also have to pay to move it back and forth between the LLC and personal if you refinance again.