All Forum Posts by: Aaron Britt

@Timothy Ponessa 

welcome to Bp... As always, I'm glad to see another Hampton Roads affiliate join Bp. I have been here in HR all my life. I agree that your plan has merit but my only concern would be the areas that you would be looking into in order to get that $60k mortgage you want.

My suggestion is that you do plenty of research about that area after you have found that $60k home. If you want to talk in more detail concerning locations feel free to PM me.

@Christopher Murphy  Welcome... welcome... welcome... As all have said in the previous posts; this site has a huge amount of information involving every aspect of RE. Use the "search the site" engine often and you will be amazed at what is already been asked and answered. Also everyone here is more than willing to answer questions or point you in the right direction. "Just ask away". Also it's good to meet another hometown face.  

@Wayne Brooks  @Sean Ploskina 

 Those are good points. I'm going to have to knock on some doors and we'll see what that brings. Appreciate the thoughts.

Greetings Bp,

I have noticed that 5 out of 6 homes on one side of the street are up for sale. What could be the reason by this?

3bd/2bth to 2bd/2bth homes
B/C class neighborhoods with schools within walking distance
None of the homes need major repairs
I have personally gone inside each of them

The rest of the neighborhood does not have an overabundance of homes for sale. I am wondering if this is just a fluke.
What am I missing?

@Gary Alford and @Marvin Cuffee , this is the second time that I've seen his name mentioned (LT Caplan). I will definitely check him out.

@Charles Williams 

Jefferson Brown's office is right around the corner. Thanx

I appreciate everyone responding so promptly. Everyone's willingness to help each other and build up vice breaking down another person is what makes this site such an asset.

Hey HR Investors,

I am out looking for a good, knowledgeable RE Attorney. They can be in Norfolk, Virginia Beach, Portsmouth, or Chesapeake. I am not really looking to go across the water unless they are just that good.

@Patricia Ellington 

welcome.. welcome.. welcome... Glad to meet another member of the Hampton Roads community coming aboard. Here you can find literally find hundreds of answers to each and every question you have as well as dozens of people who are more than willing to assist in your search for knowledge.

A good place to start is reading the BP "Ultimate Beginners Guide to Real Estate Investing". It's free and can be downloaded to review at your leisure. 

@Jeremy Tillotson 

He claims to owe approximately $185K. I don't have the definite number yet. This deal is not in stone but this is the initial. I am wondering if I should continue to look deeper and get more info or just to let it go based off the basics he gave me.

@Jeremy Tillotson 

It's more like the values have stopped dropping. There's been a 1.9% increase over the last year in property values in that area.

Greetings all. Can I please get some feedback on a possible Lease Option deal? This will in essence be my first deal and I don't want to jump on it just because its there. Your opinions on this would be greatly appreciated.

3bd/1bth/1 car driveway

961 sq ft

The owner paid $200K in 2006, market value now is $150K-$160K

PITI is $1,100.00

My thoughts are to get a 4 yr lease option with a purchase price for today's current market value. Monthly rent will be the PITI. Then sublet for $1,600.00. Rent comps in the area run $1,200.00 - $1,500.00 for regular tenants but Section 8 runs $1,600.00 so that too is another option.

Any thoughts or feedback would be appreciated.