Who is doing small multi-family rentals in Virginia beach or nearby towns?

Question

I'm looking to connect with people that have experience in the area with renting out multi-family properties like 2-4 unit houses and I plan on living in one of them. I'm looking for good neighborhoods to invest in and referrals to property managers and real estate agents in the area.

Thanks BP.

Vijay Friedman · Answer

@Dryden RayHouse hacking can be a great way to get started. Since you're just narrowing down neighborhoods, I'd spend some time talking with local investors and property managers about tenant demand, typical rents, and areas where vacancies stay low. That local insight is often just as valuable as the numbers on a listing.

Diana Khan · Answer

@Dryden Ray, one thing I’ve learned from working with investors is that with a 2 to 4 unit house hack, I would confirm that the property is legally set up for the number of units being advertised before getting too far into the deal. I’ve seen properties marketed as multifamily where the actual zoning, permits, or property records did not fully match how the building was being used. I would also look at separate utilities, existing leases and deposits, insurance, and any owner-occupancy rules tied to the financing.

Since you plan to live in one unit, I would want the property to work both as your home and as a rental from day one. That can save a lot of problems later when you move out or decide to refinance. I work with a lot of real estate investors and would be glad to stay connected as you build in Virginia. Since the property would be in Virginia, I would still have Virginia counsel confirm anything specific to local law.

Dryden Ray · Answer

yes, i would like to stay connected too.

thanks for the tips.

Dryden Ray · Answer

Thanks for the advice! i appreciate it.

Claudia Rodriguez · Answer

Living in one unit while renting out the others can be a great way to get started with multifamily investing. I’d definitely connect with a local agent who has actual experience with 2–4 unit properties, not just residential sales.

I’d also talk with property managers early, even if you plan to self-manage initially. They can give you great insight into realistic rents, tenant demand, neighborhoods, typical maintenance issues, and what they’re seeing locally.

Good luck with your search! I’d be interested to hear what market you’re looking in.

Adrienne Rammohan · Answer

Yep.  Easy way to find some local investors is engage with the new map feature of your dashboard here.  Type in Virginia Beach and you'll be able to identify lots of investors in that area and can see what they own, etc.  Great way to start those conversations.

Who is doing small multi-family rentals in Virginia beach or nearby towns?

Who is doing small multi-family rentals in Virginia beach or nearby towns?

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