All Forum Posts by: Shelly Good-Cook

Welcome to Virginia, a great place to live!

Welcome from another Virginia newbie (I'm in Alexandria)

Hi

My name is Shelly and I'm originally from Virginia's Shenandoah Valley but I now reside in Alexandria, VA. My background is in marketing, social media and PR. When I say I'm new to REI, I mean I have absolutely zero background in real estate. After being on full-time Active Duty since shortly after September 11th, my husband is transitioning back to part-time status. His active duty years are not enough to qualify for "retirement pay" so we are looking at REI as a replacement income. I've been learning about the different exit strategies to determine what best fits our current situation and have decided to concentrate on multi-unit affordable housing, including apartments and mobile homes in the mid-Atlantic area (primarily Virginia and Pennsylvania). I'm also interested in lease option and wholesale should I find the right opportunity. My goal is to acquire at least seven multi-family (5+) units in the next three years.

My biggest questions currently concern estimating rehab costs and I am really looking forward to learning that aspect of the business.

Why REI? I believe the "rules" have changed since I got out college (or perhaps it was always this way??). Growing up we always heard, get a degree and you will find a good job with a good company and be able to retire (maybe not rich, but comfortable at least). That no longer seems to be the case. People are working longer before they retire and even though they put the maximum allowed into their 401(k)s and IRAs it isn't enough to sustain them let alone afford them any sort of "lifestyle" they worked hard towards all of those years. I am absolutely convinced that REI is the answer to the question that I still don't know how to phrase, but I'm sure glad I finally figured it out!

Shelly

Welcome! I too live in Fairfax County. I'm far less experienced-I am a newbie.