We will be having our first in-person meeting again in over a year! Guest speaker Cassidy Burns, Real Estate Agent and Investor, will discuss and analyze a 17-unit Apartment Complex that he acquired during the COVID pandemic. He will evaluate CAP rates, how he located the deal, raised the money from an equity position, and what his future plans are for this deal. After recently starting a satellite team in the Shenandoah Valley to increase his Multi-Family acquisition deal flow, he is poised to take on an additional 150 units by the end of 2021. He is targeting 50-150 unit buildings built between 1970 and 2005 in the Shenandoah Valley region. Join us to learn more about multi family real estate investing and long term wealth generation tonight at 6 pm at the Harrisonburg Real Estate Investors Meet-Up.  

Come join us in person as we discuss multifamily and network with other local real estate investors! Please enter from the rear of the Funkhouser Real Estate Group building in Harrisonburg.  Meetup sign will be on the door. We can't wait to see you!

The Harrisonburg Real Estate Investors network is a group of experienced investors, agents, lenders, attorneys, insurance brokers, contractors, and real estate newbies looking to grow their business. They focus on real estate investing ranging from residential to multifamily investments and active to passive real estate investing. Their goal is to establish a community of real estate professionals, both amateur and experienced, that creates the network and environment to grow everyone’s business. Check out their Facebook page or join their Meetup group to get more information about upcoming meetings!

I am excited to announce that Chase and I will be reviewing the full process on how to buy your first, or next, investment property!  This topic will be broken up into two parts to give a full, in-depth guidance on closing an investment property.  

Tonight we will cover Part 1: 

• Getting Started
• Sourcing Funds/Loan Pre-approval 
• Analyzing Deals
• Making Offers (to on & off-market sellers)  
  
  

Next month we will finish the process with Part 2:

• Contract Negotiation
• Due Diligence 
• Funding the Deal/Loan Process
• Closing

Whether you are a complete newbie or experienced investor, we are sure you will learn new tips and resources to help with your current investment process as we take a deep dive into investing in the local real estate markets! Join us live at 6:00 pm on the Harrisonburg REI website.
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​Can't make the meeting? We have recordings of all our previous meetings on the website as well. 

The Harrisonburg Real Estate Investors network is a group of experienced investors, agents, lenders, attorneys, insurance brokers, contractors, and real estate newbies looking to grow their business. They focus on real estate investing ranging from residential to multifamily investments and active to passive real estate investing. Their goal is to establish a community of real estate professionals, both amateur and experienced, that creates the network and environment to grow everyone’s business. Check out their Facebook page or join their Meetup group to get more information about upcoming meetings! 

Hans Harman is the current President and CEO of Momentum Earthworks, LLC and current President of Velocity Property Group located in Harrisonburg, VA. Hans has ample experience with construction projects from successfully managing over 40 million dollars of new construction projects from when he was a Construction Project Manager for Harman Construction, Inc. from 2008 to 2011. In 2009, Hans managed all phases of the development process for Velocity Property Group including: zoning and local government relations, property acquisitions, networking, marketing, and branding.  Then, in 2011, Hans completed a company asset acquisition of a local longstanding site excavating company which became Momentum Earthworks, LLC.  Hans has grown the company from 7 full-time employees to 30 full time employees while tripling the revenues in the first 36 months.  
 
Hans currently serves as President of the AGC of Virginia Valley District Executive Board. He also serves Shenandoah Valley Builders Association Board, Harrisonburg Downtown Renaissance, and VMRC foundation boards. He is also very involved in several church based and civic organizations.  In 2017 Hans was recognized as the Harrisonburg Rockingham Chamber’s Entrepreneur of the year, as well as being listed in the Shenandoah Valley Business Journal’s “Top 10 under 40” innovative leaders.

Like most events these days, the meeting will be held virtually which means you can don some St. Patrick's Day swag while Hans shares his experience with real estate development in Harrisonburg and the Shenandoah Valley tonight from 6 p.m. until 8 p.m. So grab some green beer and join us here!

The Harrisonburg Real Estate Investors network is a group of experienced investors, agents, lenders, attorneys, insurance brokers, contractors, and real estate newbies looking to grow their business. They focus on real estate investing ranging from residential to multifamily investments and active to passive real estate investing. Their goal is to establish a community of real estate professionals, both amateur and experienced, that creates the network and environment to grow everyone’s business. Check out their Facebook page or join their Meetup group to get more information about upcoming meetings!

Selling your home is a big step. How do you know you’re ready to sell your home? Here are 8 signs that you’re in a good position to sell your current home and buy a new one.

Equity is the difference between what your house is worth and what you owe on your mortgage. So if your house is worth $300,000 and you owe $200,000, then you have $100,000 of positive equity. Most homeowners have positive equity in their homes, but it’s possible to have negative equity if your home is now worth less than what you paid for it. How much equity do you need to sell your home? Unless you have to do so to avoid foreclosure, don’t sell your home unless you can sell it for more than you bought it for. In terms of what you need to buy a new home, it’s best to have enough money from the sale of your current home to make a 20% down payment on a new home and to be able to pay for closing costs and moving expenses.

The best case scenario for buying a new home is that you are financially secure, with no debt outside your mortgage and enough cash in an emergency fund for at least 3 months of expenses. However, it is possible to carry some debt outside your mortgage and still be approved for a loan for a new home. Lenders will look at your DTI, or debt to income ratio to decide if you’re eligible for a loan. A favorable DTI is less than 43%. To figure out your DTI, add up all your monthly debt and divide it by your monthly income. For example, if your monthly debt is $500 and your income is $3,000, then your DTI is 16%. ​

In order to get the most out of the sale of your current home, it may be necessary to make some upgrades. Typically, the best places to invest money are in paint jobs, the exterior of the house, and upgrades to the kitchen and bathrooms. Home improvements aren’t a must-have, but having the cash on hand to update your home and maximize its value is a good sign you’re ready to sell.

While you may be in good financial shape to sell your home, it’s also important to assess whether or not you are emotionally ready. Can you handle the criticism of your home that potential buyers may make without taking it personally? Are you ready to let go of the memories that you created in your home? Are you prepared to put in the work to get your home ready for the market and keep it ready to show for weeks or months? These are some of the questions you will need to answer in order to determine if you’re emotionally ready to sell.

Whether you need more space to accommodate new family members or you’re ready to downsize, it’s important to assess whether your current home fits your needs. Changes in your family size or lifestyle indicate that you’re ready to sell.

Do some research and find out the state of your local market. If you're in a seller’s market, meaning that demand for homes is greater than the number of homes available, it’s a good time for you to sell. In a seller’s market you’re likely to get multiple offers on your home that are competitive and you’ll be able to make money off the sale of your home, which is always the outcome you want as a seller.

In summary, to determine if you’re ready to sell your home, you’ll want to take stock of your financial situation, your emotional situation, and the state of the local market. If these three factors are all working in your favor, it’s a sure sign that you’re ready to make the move of selling your home.

Sources: https://www.zillow.com/sellers-guide/thinking-of-selling-your-home/
https://www.daveramsey.com/blog/ready-to-sell-your-home

I got my license in 2014 and since then I have had the honor of being named a Top Agent by Virginia Living Magazine, a Top Agent in America and in the top 5% of local agents in production and negotiation by HomeLight.  In addition to sales, I am passionate about micro loans and created a local KIVA team that provides loans to those who could not otherwise get financing. My passion for real estate investing eventually led me to start an investment club in 2017. I later joined forces with Chase Louderback to create the investors club we have today.

I have not only sold short term rentals to clients but also taken a deep dive into understanding how to create successful short term rental business locally. Tonight I will be discussing how I analyze a property to see if it makes sense as a short-term rental as I dissect a previously listed short term rental that was for sale. 

Join the meeting here.

The Harrisonburg Real Estate Investors network is a group of experienced investors, agents, lenders, attorneys, insurance brokers, contractors, and real estate newbies looking to grow their business. They focus on real estate investing ranging from residential to multifamily investments and active to passive real estate investing. Their goal is to establish a community of real estate professionals, both amateur and experienced, that creates the network and environment to grow everyone’s business. Check out their Facebook page or join their Meetup group to get more information about upcoming meetings!