Does anyone have a pulse of where to start my "drive for dollars" search for properties in Northern Virginia or Richmond, Virginia? (Mindset of a Wholesaler) - Decent neighborhood/ attractions but house or houses in need of significant TLC.
What schools do people prefer in NoVa?
Where do the jobs seem to be going?
Attractions that homebuyer would entice home buyers?
What are some other factors (any one in general) uses to find their properties?
There are some good blue collar communities in the east end of Henrico County by the Richmond airport. 70's & 80's ranchers abound in Sandston, Cold Harbor, Highland Springs areas.
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Awesome thanks @Jon Deavers
@Dante Bellins You're welcome! If you're ever in town and want a tour of the metro area, just give me a shout.
@Jon Deavers How is the market in Richmond? I live in Northern VA and have heard some things about Richmond, so I thought of looking into it a bit more.
I'm looking to buy my second property. Leaning towards a 2-4 unit property to get more experience.
Any good/bad areas to be aware of?
It's really a mixed bag in most neighborhoods in the city limits. There are not many I would say to absolutely stay away from. A lot of the historic neighborhoods have great blocks right next to not so great blocks, so you really need to see it first hand before buying something. That said, I've seen a decent amount of 2-4 plexes on the mls that would cash flow at 100$ per door with minimal repair (many units currently rented). A piece of advice on any area in the city limits is to check with your accountant and the city planning office because there are quite a few properties that can qualify for historic building credits under certain circumstances. Give me a call sometime and I can go into some more specific detail on the city and set up some search criteria for you so I can keep you posted on properties as they come on the market or into the office pre-listing.
BTW, that $100 per door number was just a rough estimate using basic 15% down conventional investment mortgage , taxes, insurance, and assumes full list pricing.
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