Interested in Richmond area buy-holds

[Jonathan C.]

Hi folks

I'm an investor up in the Washington DC area, where the returns on a holding strategy are small to nonexistent...I own three condos in addition to my house, and was looking at my long term plan the other day (which I drew up in 2013) and realized it is going to be an impossibility in the northern virginia market because returns are so slim.

I love Richmond and while i'm not crazy about long distance investing and property managers, I know there's a lot of potential in that market.

Bottom line, I'm looking for stable, low vacancy SFH's in the $100-120k range, in up and coming areas, which rent for about 1%/month, and I plan on using a management company. This appears within reach in some zips near Richmond.

My questions for the forum: Is what I'm looking for possible in Richmond? What zips should I be focusing on? Are there other areas I should look into when I'm down there? I'm also happy to consider multifamily.

Thanks for guidance! Really appreciate the BP community.

Jonathan

[Mike Oconnell]

Hey Jonathan - Get in touch if you want to talk about the markets from Fredericksburg to Richmond.