All Forum Posts by: Sean Ploskina

Is that correct rent?  625?

@Marta M.  I am an investor here in Norfolk and have been for a while.  First titustown isn't the best neighborhood.  Not a complete warzone but C at best.  

As for your numbers I think you might be lowballing a few numbers.  Vacancy is at 3% I would put it at 10.  Do you have a copy of the water bill?  I have a four plex in norfolk and it has never been as low as 200 fully rented.  

Management is reasonable but you get what you pay for at 6%.

The tax rate for norfolk is 1.15 per 1000.  If it is assessed at 270k as you have is that would be 3105 per year.

repairs are way low at 3% I budget 10 for repair and 5 for cap ex.  

Your insurance looks close but in norfolk you have to account for flood insurance.

Overall you are a bit rosy on the numbers.  Multi in Norfolk right now is a bit bubbly.  I struggle to find real deals right now.  Good Luck!

Congrats @kris 

@Kris Haskins  Great to see another Hampton Roads investor moving forward!  

quick math that is less than 1%.  Hard pass on this one.

If want to pursue I would want exact updates.  When it was built.  copies of leases and rent rolls.  

If its been on the market that long and do price change I would think they are not realistic or trying to get out of something they bought badly earlier

Property Services of Ocean View.  I have been using them for 6 years and counting.   I know it says Ocean view but I have a house in Portsmouth that he handles.

Ask for Marc, tell him I sent you. 7575887768

Welcome to BP!

Welcome to BP @William Ephraim.

Be sure to check out the beginner's guide and the calculators!

@Jennifer Jesse Welcome to BP.  If you haven't yet checkout the education section for the beginner's guide and the tools section for the calculators!

Welcome @Steve Sands to BP and the area!  Checkout their calculators and free webinars to see what peaks your interest.  Are you just moving to the area or have you been here a while because you will really need to know the cities before you invest.  

I have need for a realtor to work with here in Hampton Roads.  I am and experienced investor who needs a team member who has knowledge and experience in the area with Buy and Hold properties.  This includes having their own investment properties.   I have 5 properties currently and looking for more in this market.

If this sounds like you send me a message and we can meet up for us both to get some deals done!