Posted by Paul Jackson I recently moved to Richmond Virginia from the New York area and wanted to know how to best begin making real estate contacts in my new town (Agents, remodelers, mortgage brokers, etc) I would like to begin with some rental properties, but do not know the typical rents in town yet. Obviously I need to know this to help determine how much I should purchase the property for to determine cash flow. I would also like to purchase some rehab properties to flip or 1031 exchange, but do not know anyone in construction. Where do you start and who do you start with. Lastly, how do banks / mortgage brokers assess how much leverage you can use. In other words, do they take into account the rents the property generates to determine if you can afford to purchase it, or do they gauge it more on your ability to put a down payment on the properties.?
on 2/20/2005, 4:15 am
65.97.26.213
George,
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