How is the market in Lynchburg?

Question

Anyone here investing in Lynchburg, Va? I'm in the Harrisonburg area, however, I have family in Lynchburg and we're there fairly often, and it's only about 2 hours away. I've looked around a bit, and it seems that there are several duplexes and such for well under $100,000 and a lot of properties with existing tenants, that meet the 1% rule. That simply isn't a thing here in Harrisonburg. I've ordered the Long Distance Real Estate Investor to study up on the idea.

I know there are some better/worse areas of the city (and most of the "steals" seem to be in the worse areas, but how is the market in general? Are vacancy numbers through the roof? Are there good property management companies there (which ones)? Any other thoughts?

I know there are some better/worse areas of the city (and most of the "steals" seem to be in the worse areas, but how is the market in general?  Are vacancy numbers through the roof?  Are there good property management companies there (which ones)?  Any other thoughts?

Chase Louderback · Answer

@Justin Knighten  Are you looking for rentals or flips?  You may find value in coming out to our monthly meetup in Harrisonburg to meet other people that are in the market.  Our next meetup topic is Finding Money For Deals on June 19 and we will have Kyle Miller guest speaking on his house flipping business on July 17.

Laura Tokgozoglu · Answer

We are out of state investors and we've bought 3 condos in the Cornerstone/ Capstone area and have never had a problem with getting tenants. We use Priority One Property Management. My impression is that Lynchburg is a good solid place for investing. Liberty University provides the town with many students and young professionals who need places to live. It is also a very good town for Airbnb. We use Mickey Herzing as our Realtor, he is also an investor in Lynchburg and is very knowledgeable, give him a call.

Maxwell Fontaine · Answer

I also invest in Lynchburg, if you have any questions about the area or insurance needs feel free to reach out. I'm here to help if possible.

Ben Sears · Answer

@Justin Knighten I'm also interested in this. I live in Farmville so I'm only about 45 min down the road. We don't have a tremendous supply here so I have toyed with the idea of getting into the Lynchburg market. I think close to Lynchburg College/Liberty might be a solid play. If you have any specific address questions, shoot me a PM. I have a buddy that works for Lynchburg Fire and nobody knows the good and bad areas like they do.

Justin Knighten · Answer

I know couple of the FD guys there as well, that was going to be my plan, meet up with them and ride around.  Looks like the really cheap stuff is down by the river, but there is also some really nice stuff and a lot of revitalization going on in that same area.

How is the market in Lynchburg?

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