I feel strongly that investment real estate is an important part of a well-rounded, diversified financial portfolio. It is not just theoretical to me. I personally own investment property in Northern Virginia and in markets outside this area. I have bought inside my self-directed IRA and outside of the IRA. I understand the benefits of being a real estate investor and I also know that it does not come without the occasional challenge.
If you have thought about purchasing your first rental property or if you want to take advantage of the current environment to add to an existing portfolio of homes, give me a call. Don’t call just any Realtor. You need an investor-friendly Realtor!
WHAT I CAN AND CAN NOT DO FOR YOU
Wholesaling – there is no Realtor involved in these deals and no real added benefits from me getting in the middle of the transaction. However, if you would like comps and an opinion of value on a residential piece of real estate, call me to discuss how I can assist.
Rehab and Resell Quite frequently, I get a call from a new investor wanting to know if I can find a run-down property for them to fix and flip. Honestly, I should not be your exclusive agent on the front end. Please don’t believe any Realtor who tells you they have the inside track on foreclosures, short sales, or other distress situations. They just don’t. Occasionally I (or other Realtors) do have a unique opportunity to pass along but that is rare for me and almost every other agent in the business. My advice to rehabbers on the front end is to find the properties privately. Almost everything that gets onto the MLS gets bid up so quickly that I wonder how these people actually make a profit. Now, if you find a property and want comps and you will be using me to resell the property after the rehab, I will do the upfront comps for free. I will be 100% honest with you and maybe even too conservative according to some of my clients. I want you to make money on the back end but most importantly, I don’t want you to lose money. When you succeed, I succeed and we will develop a productive relationship that saves you both time and money as we do more and more projects together.
Buy and Hold I absolutely recommend you give me a call if you are thinking along these lines. I have seen too many investors make mistakes and not maximize their return on investment. Often I give investors the advice to split their money and buy 2 lower priced properties instead of one higher-priced home. That’s double the work for me but you get a better return. I will always devise the best strategy for you, not me. I can help rent it for you if you desire but I do not do property management. I can refer great managers to you.
Buying out of the Northern Virginia area Please, please, call me before you start to explore any market in the country. I am part of several investor network groups and through those connections, I can find you a great Realtor who understands real estate investing. Recently I bought in Memphis and Norfolk and used those networks to find my agents who were both outstanding. DO NOT just call any agent for real estate investing. This is a special niche. You need an investor-friendly Realtor. The agent who does 95% of their business with owner occupants is not the best agent for you.
On this page, you will find a convenient spot to reference my posts and other articles specifically designed for investors.
DISTRESS PROPERTY – FORECLOSURES, SHORT SALES ETC
Basic info on foreclosures, short sales and bankruptcy posted by Joe 12/30/11
Tales From the Front Lines – Short Sale Shorts posted by Joe 1/2/12
The Risks Involved in Flipping Homes posted by Joe 11/56/12
1031 EXCHANGE INFO
Take Advantage of Market Imbalances posted by Joe 12/19/11
Creating wealth using a 1031. Published by Joe 4/5/12
Why using a local lender is important posted by Joe 8/17/12
THE HOME SEARCH PROCESS
Why having your agent preview is important posted by Joe 0n 3/9/12
Pros and Cons Of Putting an Investment Property in an LLC Published in the Chicago Tribune 3/4/12
PURCHASING IN AN IRA
This is a strategy worth reviewing. Plenty of info under the IRA investing tab at the top of this page.
Pros & Cons of the Housing Choice Voucher Program- Section 8 posted by Joe 1/23/12
Keeping your current home as a rental posted by Joe 9/14/13