Investing in Norfolk Area-Looking to Connect With A Local Agent
Hello, I am an investor from Philadelphia, PA. I have had success in the area for a number of years. Because it is such a hot market, home prices have skyrocketed, competition is fierce, and the local political environment for landlords has made it difficult for me to maintain my affordable rentals. All this is pushing me out of Philly. I have been researching Norfolk (and surrounding area) since the pandemic hit. I have tons of questions, particular to my real estate investing goals...affordable rentals, that aren't addressed in the posts I have seen.
I would like to connect with a local agent...meaning someone who lives in the area and has done so for 10 years or more. I want an agent who really knows the market, the good the bad and the ugly. I want an agent who stays abreast of the economic development going on in the area. I want an agent who understands the job market in the area. I understand there is huge military presence, but what else do you have with respect to major employers who can provide citizens with livable wages?
Just so you know I am a serious buyer: I purchased by first home at 25 years of age. I paid the home off in 20 years and am now living mortgage free. In between the purchase and payoff, I purchased and held a triplex in Philly and flipped 10 homes. Before Philly got crazy I was flipping a couple of houses a year. Now I am down to one buy and hold, a duplex that I purchased with cash. I work a full-time job and use my salary to fund my real estate purchases.
Are you the agent I am looking for? If yes, can you provide me with a brief summary of your market and how would you approach a real estate strategy for buy and hold rentals that would be offered as affordable rentals?
Good afternoon @Paulette Midgette I have a friend who is an agent in Norfolk, and also a big time investor. Happy to introduce you
Hi David,
Thanks so much for the response. Please make the introduction between your friend and myself.
Hi @Paulette Midgette
I have worked with an agent also who works specifically with investors that are based out of the area. They will do video walk through, etc, and cater to investors specifically. Send me a message and I will link you up.
Thank you Benjamin. I appreciate you willingness to provide a an agent contact. However, I already have an agent I've connected with the area.
I am in exactly the same boat as @Paulette Midgette. I'm keen to build a relationship with a thoughtful agent/broker as I try to assemble a small portfolio of rental properties in my home town! Any and all contacts would be gratefully appreciated.