Hampton Roads - New Construction

1 Reply

Hi BiggerPockets Nation,

I am currently looking for my second buy and hold deal in the Hampton Roads, VA area and I am wondering if anyone has advice, leads, general information related to new construction in this area. I currently own a duplex that I am house hacking, however, I would like this next deal to be in a better neighborhood to attract higher quality tenants. Specifically I am looking for a complete rehab or new build duplex, triplex or 4plex. Wondering if anyone has experience comparing the pros and cons of rehabs to new build. Ideally looking in Norfolk but would also consider Virginia Beach, Hampton, or Chesapeake.

Thanks!

Akiem

Whats up Akiem, 

I'm a wholesaler and Realtor in the area and would be happy to help you out anytime if you need it. As far as things go with new build duplexes, triplexes and 4plexes they are going to be hard to come by if you didn't build it yourself. Not to many people are building them let alone building them and selling them. Not a bad idea though to build one in a good area if the rents are good and the numbers work though. The rehabbed small multis are going to cost you more, especially in the better neighborhoods. Your likely better off finding something that isn't rehabbed that you can update and increase rents yourself.