New to Real Estate · Bay Area, CA · Member since 2022 · 25 posts · 19 votes
Hello BP community,
I’m attempting to determine a new market to move forward with investing. I have it narrowed down to a handful, including Richmond. However I can’t seem to make a decision.
MTRs and, more specifically, corporate housing are my strategy of choice. Ideally purchasing small multi-family properties.
I’ve done my research, but would greatly appreciate insight from current investors in the market. What’s working, vs. not, areas worth looking into or avoid, etc. Bonus points if executing a strategy similar to my own.
Realtor · Richmond, VA · Member since 2017 · 118 posts · 113 votes
6mo
Hey Aaron,
Happy to help you process. I'm an investor and full-time realtor in Richmond. As an investor, I've got some long-term buy and holds, I've had 2 MTRs, and do some land development. As a realtor, I've served traditional buyers and sellers, but also a variety of investors who have bought and sold single family and multi-family properties.
MTRs are definitely an advantageous way to create cash flow in an otherwise low cash flow environment. Shoot me a message if you'd like to chat more!
Investor · Richmond, VA · Member since 2017 · 20 posts · 8 votes
1mo
Hello Aaron,
I am a small real-estate investor here in the Richmond, VA market as well. I have a portfolio of LTRs around the area that I have acquired, renovated, rented, and self-manage. My wife has been desiring to have an MTR near our house. As it goes, I have a contract on a house that will either be an MTR or wil be a flip if things don't go smoothly with my MTR experiment. I would love to connect and chat about your best practices and lessons learned. Please reach out either here or call/text at 804-484-4097.
I wish you the best of luck in your endeavors and hope that we can best support each other as we venture into this new part of the market!