Norfolk a good place for investing?

31 Replies

Hi Everyone!

Sorry I'm late to the game on this conversation. We have five rental units between the Virginia Beach area and Chesapeake. While Va Beach is obviously more well known I think Chesapeake is pretty fantastic as well.  I'd also like to jump on the "watch out for a flood zone" bandwagon. It's gotten worse  - there is a really interesting NYT article titled "When Rising Seas Transform Risk into Certainty" that you can look for that discusses the impact of flooding on Norfolk real estate specifically.  It's a good read.

 We have properties in two other states and by far the ones in the Va Beach/Chesapeake have outperformed them. Also, our property manager there is fantastic. Message me if you'd like her information!

Good luck!

Cheers,

Jessica

Not much I can really add to the conversation. Everything regarding the bad neighborhoods and flood stuff has already been covered. So I'll just say, if you need an investor friendly agent, PM me. I work almost exclusively with investors in the area and out of state.

I would just like to thank everyone for all of the responses in the last few days pertaining to this topic.  I am a new investor who is trying to better understand the market. This discussion has been a huge help!

Hello folks! I know this is an old thread but I am looking at the area as well. I rented in Ghent and Ocean View while attending ODU and am looking to invest in Norfolk. 

> Areas in Norfolk to avoid: Olde Huntersville, Hunter's Square (east of Church St in general), around NSU

I'm interested in a duplex around NSU. What would you say is the issue around there? @anthony pinto

> Areas in Norfolk to avoid: Olde Huntersville, Hunter's Square (east of Church St in general), around NSU

I'm interested in a duplex around NSU. What would you say is the issue around there? @Anthony Pinto

Hey Tim. I'm mostly considering the crime level. The NSU campus itself is pretty safe but immediately outside the campus is a moderate to heavy crime zone. Theft, vandalism and assault just from what I can see from the past week on Trulia. The surrounding neighborhoods themselves are not places I'd want to walk at night and I would question the type of tenant you would find who would want to live in the area, besides any college students. 

If you are considering the duplex because it is near a college campus, I would recommend near ODU. You can appeal to ODU students, faculty and military personnel (Naval Station Norfolk is only a few miles down the road. In my opinion, the area is much more desirable for quality of properties, tenant types, vacancy rates and rental rates. The only thing I would caution is to make sure you check the flood map for your potential property- by NSU or by ODU.

I hope that answered your question!

Anthony

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