New to RVA and Real Estate Investing

8 Replies

Hello all,

My wife and I just fulfilled our wish of moving to Richmond, VA from the DC area. While I am intimately familiar with RVA as a location, we are new to house hunting in the area, and hope to snag our first house before jumping into investing. I am a long time BP podcast listener and I look forward to rapidly expanding my network.

I look forwad to meeting y'all and learning about neighborhoods and great investment areas!

Thomas

I'm strongly considering doing the same. Following this conversation; please post anything you learn if you don't mind.

Hi, my husband and I own 3 multi-unit rental properties in Richmond; 2 are in the Fan District and the other is close to VCU. My favorite area in the city is the Fan District but there's not much for sale and what is selling is overpriced. Do you have specific areas you're looking at or questions about a specific area?

@William Webb

Hi William! Welcome to RVA! It's got everything you'd want out of a big city but without the hassles. The nice thing about Richmond is that whether you want to be in the city limits or out in the 'burbs you are still within a 30 min drive to almost anywhere else in the metro. The benefit being you can prioritize great schools and a suburban subdivision environment and still be a short drive to the city for night-life, culture, etc. Or you can prioritize walkability and convenience to what the city has to offer and still be a short drive to familiar big-box retail needs, etc. 

I hope you're enjoying it so far and best of luck kicking off your investing career!

Thanks all!

@Lisa Green I am mostly interested in multi-unit downtown, just as you mentioned. I am not particularly interested in doing a lot of single-family outside the city (especially Hanover). If you are amenable I would love to hear your lessons-learned and your approach to downtown.

@Jon Deavers Couldn't agree more. We're in Scott's Addition now, and I lived off Parham back in 09-10. Lots of friends all over now, Midlo, Short Pump, Near West End, and downtown. I love RVA and I'm so glad to be back!

@William Webb Many of my lessons learned have to do with tenants and I'm quite sure I've just scratched the surface with this. One of our properties houses undergrad students and they are an interesting bunch. 

My husband found all 3 of our properties; he's great at finding the deals and has the vision to see a property's potential...he's willing to take a risk. I'm much more reserved so we keep each other in balance. I'm not sure the rules of posting my email address or phone number here but you can find my contact info on my LinkedIn profile if you'd like to contact me.

@William Webb I just looked and my work email address is actually on my BiggerPockets profile if you want to reach out.

Welcome to RVA!!

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