Moving to Blacksburg VA; who invests in the New River Valley?
My wife and I just found out that we will be returning to our alma mater Virginia Tech next academic year and are super excited! I am active duty Air Force and will be an AFROTC instructor for the 2022-2024 academic years. We have been looking at homes in the local area and the market seems pretty brutal right now. However, we are working with a local realtor to hopefully find something that fits our wants and needs. More importantly, we are looking for an investment property that we can use to offset our mortgage payments and help build equity faster.
We have been exploring the ideal of finding a property with an ADU (essentially a detached mother-in-law suite) that we could rent out to a grad student or small family. Skimming through Zillow and Realtor.com is not looking promising for availability. We are curious how other investors are doing in the area, and what strategies people are using for this market.
Currently we only invest in syndications, so doing a rental such as an ADU would be new to us. We have done our research and have confidence that we could be successful, but we are looking for tips and tricks regarding this REI strategy.
Thanks! Adam