Multi family investing

4 Replies

hello this is my first post I live in Richmond va I want to invest in small multi family 2-4units my ? Is Richmond a good market and what are requirements for a fha loan 

multi family properties in richmond have become very expensive recently. I have been looking at them myself for quite a while but unless your willing to buy in some marginal areas there isn't much out there right now that offers any kind of cash flow. 

Originally posted by @Matt Weaver :

multi family properties in richmond have become very expensive recently. I have been looking at them myself for quite a while but unless your willing to buy in some marginal areas there isn't much out there right now that offers any kind of cash flow. 

 But there's some pretty decent opportunities in marginal areas if you hunt.

In most markets, "marginal areas" are where the money is made. 

The initial post talked about fha loans so I, perhaps mistakenly assumed he was looking to live in the property as well/house hack. If that's the case then you may not want to live in a marginal spot.  Also Richmond is a lot different than say somewhere in the Midwest where homes are inexpensive and your in a c+/b area, when I say marginal, I mean your probably in a c-/d area.  Most affordable multi families are in the east side of the city, Gintar park, Barton Heights, Chamberlain area, you can occasional dig a gem out of the area, but I wouldn't be prepared to say that is where the money is going to be made.  Occasionally duplex's come up near vcu in the 200k range and that would be a good househack area.

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