All Forum Posts by: Taylor Hudgins

Hi Karl,

Welcome to the crazy world of real estate investing!  You're going to love it!

My biggest advice I'd tell myself when I was first starting is to "just go for it".  Don't get stuck in analysis paralysis, because the life experience will teach just as much as the podcasts and books.  Have faith and know that the passive income that awaits you on the side is worth the risk of jumping in.

I also highly recommend attending some local meetups!  You'll meet so many amazing people that are already accomplishing the exact goals you're aiming for.  Feel free to ask them for advice as well!  Having a solid local investing network is absolutely priceless - especially when you're first starting.

Best wishes to you and your journey Karl!

Hi Frank,

Congrats on getting your license!!  You already have so much knowledge as an investor that I'd suggest going to meetups to work other investors on their deals as well.  You'll be able to network and add value to so many other investors in your community that you would be able to really begin escalating your own investment portfolio as well!  

Hi Chris,  

There are different aspects to each area depending on what you're looking for.  Some overall basics to look for though would be: 

1.  Population size - Is that area's population increasing or decreasing in size?  Are there plenty of employers/schools in the area to attract more people?  

2.  You'll also want to look at that state's tenant/landlord laws to make sure you feel comfortable investing in that particular place as well.

3. Property Value - Will you be able to land the ROI you're looking for in that area?

These are obviously just a few starting points but I highly recommend looking into the Long-Distance Real Estate Investing book by David Greene.  It'll help you get started on the right foot for sure!!

Our mission is to support and inspire WOMEN real estate investors around the globe to live a financially free and balanced life. We are dedicated to creating empowering online and in person communities where WOMEN have a non-intimidating environment to ask questions and receive the support they need. Our vision is to see all WOMAN investors achieve HER financial freedom goals on her OWN terms.

Come join us for the February InvestHER Meetup in Virginia Beach on February 20th! Erica Osborn will be talking about everything you need to know to make the leap into multi-family rental properties.

Erica Osborn is a buy and hold investor and an agent here in the Hampton Roads area. She and her husband have been growing their rental properties to make their way closer and closer to financial freedom. She’s here to talk us through her journey and how she has partnered up to acquire an 8-plex right here in the area of Norfolk!

See you there!

Hi Stephen,

I'm originally from central Virginia and currently live in Virginia Beach.  Richmond, Roanoke, and Norfolk are going to each have their different perks and concerns.

Roanoke is currently up and coming which is great!  The only thing here is that they are in the growing pain phase where businesses are still moving to the area, but rents seem to be on the lower side compared to more populated areas in Richmond and Norfolk.  

Richmond is very spread out with lots of neighboring towns.  Downtown Richmond is pretty condense with lots of multi-family properties available, but each area is going to have it's own character when comes to local businesses, schools, and crime rates.  I'd suggest potentially narrowing down where in Richmond you'd like to search.  Some areas are newer, most of downtown is older.  BUT you could always buy and older multifamily or apartment complex, rehab it, and then force the appreciation to refinance for another one.

Norfolk is fairly similar - just on a much smaller scale.  Norfolk is (generally speaking) an older town with lots of room to grow, but our market is moving FAST.  Someone will have a duplex on the market on Friday and then have 5 offers by Monday.  For property managers, definitely reach out to Patti Robertson at https://www.PMIVirginia.com.  

Hi Ben,

Try reaching out to Dan Grubb at ABNB.  He may have some information that can help in what you're looking for in a commercial real estate loan.  I'll send you a message!

Best of luck! 

Hi Kelly!  That is so exciting!

You can always set up automated emails through zillow or realtor.com.  If you'd like to find an agent, try heading over to BiggerPockets.com > Network > Real Estate Agents and you can find an investor-friendly agent in your zip code.

Best of luck in your search!

Hi Thomas,

Congratulations on getting started with investing!  There are so many awesome people out there willing to joint venture with you.  The best way to meet a lot of the potential people is by attending meetups in the area.  Try going to BiggerPockets.com > Network (in the top ribbon) > Events.  You'll be able to see what's going on in your area and you can start meeting people that are trying to achieve the same investing goals you are.

Best of luck in your journey!

@Brandon Salm Happy to help!!

Hi Robert,

This sounds like a great problem to have!  So many opportunities!

What are your goals?  If passive income is the goal and you're getting great returns, definitely keep it.  I'd look into AirBnB, but make sure you know Miami's laws.  AirBnB and other short-term rental laws are going to be different from city to city and the biggest difference is that you'll have to furnish the home unlike having a regular tenant.  

If it is a strong options, go for it!  There are different ways to automate it or even hire a property manager if you can.  @Sierra Alderman helps manage AirBnB's as well!