Danville Virginia - investing

Most Popular Reply

Lance Neighbors
Rental Property Investor · Danville, VA · Member since 2019 · 30 posts · 13 votes
7y

In response to your reply @Amy H., I am from the Danville VA area and, as @Jeremy White stated, it is very much so economically depressed! I am a real estate investor (with a concentration in buy-and-hold properties) as well as a Police Officer for the city and I will warn you that crime is an issue. However, from a rental perspective, there is potential due to the underlying fact that no one wants the responsibility of owning there own home. Toward the outskirts of the city is where the more affluent neighborhoods are so investing around Danville could be prosperous. 

4Reply
See this reply in the discussion

30 Replies

Jump to latestLatest
  • Amy H.
    Rental Property Investor · Richmond, VA · Member since 2017 · 295 posts · 229 votes
    8y

    @Chris Seveney Hi Chris. I don't have any RE connections in Danville but I have had similar questions regarding the market out there. My in-laws have some family out in Danville / South Boston, and I've always wondered if it's worth investing. I know we could get houses for cheap, I am just not sure what the rental market is doing out there. I am definitely interested to see if there are any investors out that way on BP. Good luck & definitely let me know what you find out. 

    0Reply
  • Kenneth Stump
    Rental Property Investor · Mechanicsville, VA · Member since 2014 · 38 posts · 11 votes
    8y

    I would be interested in any information you find out about Danville. I own a small lot in Sutherlin (between Danville and South Boston) with a mobile home on it, I would like to rent this place out if I can. 

    0Reply
  • Kenneth Stump
    Rental Property Investor · Mechanicsville, VA · Member since 2014 · 38 posts · 11 votes
    7y

    I know this post is old but if anyone is looking for an investment property send me a private message. 

    0Reply
  • Yeamy Pleasants
    Rental Property Investor · Richmond, VA · Member since 2016 · 18 posts · 3 votes
    7y

    @Kenneth Stump hi do you know any good handiman in Danville roofing company to recommend? I have a house rent out there but it need some work

    Thank you in advance.

    0Reply
  • Yeamy Pleasants
    Rental Property Investor · Richmond, VA · Member since 2016 · 18 posts · 3 votes
    7y

    @Chris Seveney hi text me when you can I have a property there I think is not bad but I need a rental property management, handyman there to manage the property, I have get in contact with one I can give u come information.

    Talk to you later

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    OP
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    7y
    No longer investing in the area


    Originally posted by @Yeamy Pleasants:

    @Chris Seveney hi text me when you can I have a property there I think is not bad but I need a rental property management, handyman there to manage the property, I have get in contact with one I can give u come information.

    Talk to you later

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • Kenneth Stump
    Rental Property Investor · Mechanicsville, VA · Member since 2014 · 38 posts · 11 votes
    7y

    @Yeamy Pleasants sorry for the delayed response. I do not know anyone, I had to do the repairs myself.

    I do have a mobile home I am trying to get rid of if you know anyone that is looking. It needs to be remodeled but I am willing to give it to anyone that will move it from the property.

    0Reply
  • Jeremy White
    Accountant · Greensboro, NC · Member since 2015 · 22 posts · 10 votes
    7y

    Danville is a rough market, very economically depressed. I know several investors there who do ok, but you just need to have realistic expectations. Definitely not a town I'd call growing or in the path of progress. 

    2Reply
  • Yeamy Pleasants
    Rental Property Investor · Richmond, VA · Member since 2016 · 18 posts · 3 votes
    7y

    ok thanks

    0Reply
  • Lance Neighbors
    Rental Property Investor · Danville, VA · Member since 2019 · 30 posts · 13 votes
    7y

    In response to your reply @Amy H., I am from the Danville VA area and, as @Jeremy White stated, it is very much so economically depressed! I am a real estate investor (with a concentration in buy-and-hold properties) as well as a Police Officer for the city and I will warn you that crime is an issue. However, from a rental perspective, there is potential due to the underlying fact that no one wants the responsibility of owning there own home. Toward the outskirts of the city is where the more affluent neighborhoods are so investing around Danville could be prosperous. 

    4Reply
  • Lance Neighbors
    Rental Property Investor · Danville, VA · Member since 2019 · 30 posts · 13 votes
    7y

    My apologies @Chris Seveney, I failed to mention you in my previous reply but I see where you are no longer interested in the area. If any of you have any questions then do not hesitate to message me. 

    0Reply
  • Account Closed
    Property Manager · Winston Salem, NC · Member since 2016 · 63 posts · 27 votes
    7y

    @Lance Neighbors

       I’m looking to invest close to downtown . What would a two bd 1 bath rent for? 

    0Reply
  • Account Closed
    Property Manager · Winston Salem, NC · Member since 2016 · 63 posts · 27 votes
    7y

    @Lance Neighbors

       I’m looking to invest close to downtown . What would a two bd 1 bath rent for? 

    0Reply
  • Lance Neighbors
    Rental Property Investor · Danville, VA · Member since 2019 · 30 posts · 13 votes
    6y

    Crime is not a terrible issue in the down town area. Lots of lofts and apartment complexes with quality tenants. I personally do not own an investment property near downtown Danville but I believe the fair price range for a two bed 1 bath is between $400-$500. As you know, the rent will vary depending on your exact location and the quality of the property itself. Do you have a particular street? 

    2Reply
  • Erica Dixon
    Member since 2019 · 11 posts · 3 votes
    6y

    I have a house under contract in Danville. Do anyone know of an investor friendly title company there? Thanks. 

    0Reply
  • Yeamy Pleasants
    Rental Property Investor · Richmond, VA · Member since 2016 · 18 posts · 3 votes
    6y

    @Erica Dixon Virginia all title

    0Reply
  • Seth Eaton
    Rental Property Investor · Houston, TX · Member since 2015 · 32 posts · 4 votes
    6y

    Has anyone considered the South Hill or South Boston markets?

    0Reply
  • Preston Quinn
    Rental Property Investor · Lynchburg, VA · Member since 2018 · 116 posts · 73 votes
    6y

    I’m in Lynchburg va. My in laws live in Charlotte county. Which is pretty close to south Boston. I see there are some wholesalers and turn key companies in the south Boston market. I have seen some decent deals there. But I haven’t looked any further than Zillow. I’m not sure what kind of jobs are in south Boston. My initial impression is it wouldn’t be a great market to invest in. But I could be completely wrong. 

    1Reply
  • Peter Kum-Nji
    Member since 2017 · 1 post · 1 vote
    5y

    @Lance Neighbors wondering if the new casino will change things.

    1Reply
  • Elizabeth Pebody
    Member since 2021 · 5 posts · 2 votes
    5y

    Also curious about the impact of the casino. I am interested in connected with anyone with experience of the market. Thanks!

    1Reply
  • Account Closed
    Member since 2020 · 38 posts · 9 votes
    4y
    Originally posted by @Jeremy White:

    Danville is a rough market, very economically depressed. I know several investors there who do ok, but you just need to have realistic expectations. Definitely not a town I'd call growing or in the path of progress. 

    What are your thoughts now that Cesars Casino is coming? 

    0Reply
  • Chris Webb
    Investor · Central Virginia · Member since 2020 · 393 posts · 253 votes
    4y

    Hi @Chris Seveney, I am in Lynchburg but I invest in FL right now. I do know a great agent who helped me get my home here and she also invests. Let me know if you would like to connect with her. 

    0Reply
  • Chris Webb
    Investor · Central Virginia · Member since 2020 · 393 posts · 253 votes
    4y

    Hi @Preston Quinn I am in Lynchburg too! I do not invest here in VA, but I have run analytics for the Lynchburg market. I use Cash on Cash return and have not found very good returns here. Plus it is a new area for me because of my career switch. I do see a ton of potential here.

    0Reply
  • Account Closed
    Member since 2020 · 38 posts · 9 votes
    4y
    Quote from @Peter Kum-Nji:

    @Lance Neighbors wondering if the new casino will change things.

    Boy —has it! Very glad I invested there and great things on the horizon. The Casino money plus insightful decisions by the City Council are leading this area as it resurges. Plus —such gorgeous architecture! 

    0Reply
  • Alex WinfieldPro Member
    Real Estate Agent · Norfolk, VA · Member since 2015 · 111 posts · 61 votes
    3y

    Sabine, I kind of have to agree with you on this.  While I am absolutely looking from afar right now, I have been watching this area for a couple of years and as a city they seem to be making steps in the path of progression. I do think they are early with their progression, but while that means more risk that can mean more long-term rewards.  Be curious, if anyone else has updates in the last 12 months of what they are seeing! 

    I still have not been able to find any agents or property managers in the area, so if anyone in this thread has found anyone please share!

    Thanks for the flow!  
    Alex

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free