Is Bon Air, VA a good market for investment in multifamily?
We are looking at buying a multifamily property in Bon Air, VA. It is not our typical market, so would love some insight if possible into this market... is there a lot of activity/growth? The current underwriting projects an initial loan at 60% LTV with a fixed rate loan at a 5.50% interest rate. They say the property is likely highly "affordable" making it very attractive to Freddie Mac. Is that rate realistically possible in this environment?