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Updated almost 7 years ago on . Most recent reply

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Colin Charles
  • Rental Property Investor
  • Manassas, VA
5
Votes |
30
Posts

Interested in Richmond Va Buy and Hold.

Colin Charles
  • Rental Property Investor
  • Manassas, VA
Posted

Hi folks

I'm an investor up in the Washington DC area, where the returns on a holding strategy are small to nonexistent... I 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.

Most Popular Reply

User Stats

100
Posts
50
Votes
John Pierce
  • Rental Property Investor
  • Richmond, VA
50
Votes |
100
Posts
John Pierce
  • Rental Property Investor
  • Richmond, VA
Replied

I sent you a private message.  Look in the 23222, 23223 and 23224 zip codes.

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