New to Real estate investing, Richmond VA.

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Hello,

I am new to RE investing, and trying to soak in as much information as I can. I've been a lurker on the forums, and would like to introduce myself, since I think I am going to be posting and learning from here a lot.

We are most interested in buy-and-hold, as opposed to flipping, to be honest, we won't be able to do any renovations ourselves. So, we are looking for a turn-key investment to rent. 

We are home owners, and not much interested in house-hacking since we like our home for now.

I understand buying a new construction is not ideal, since it would not give us best ROI. However, low maintenance costs and potential appreciation is something that allures us into it, from a newbie point of view. Plus, with so many new constructions coming up in Richmond, VA this option is very tempting.

Can someone guide me to resources to learn more about pros and cons of buying and holding new constructions.

Thanks!

[Linda S.]

Welcome to BP!    While I understand you don't want to do work yourselves, I'd personally suggest looking at recent flips over new construction, pretty much.. anything over new construction.    Most renters want nice and clean, and wouldn't want to pay the bigger $$ for a brand new house..  If they have $$$, they will probably buy, or it will be a very short term rental... not to mention, if it isn't rented, that's a huge burden on your back.     Also, if you hire a management company, they'll take 10% off the top.  I just don't see a few hundred dollars as exciting, especially if you're putting up big $$ for a new construction.. think about it, if it's just a washer or dryer that need to be fixed, or new coat of paint, make sure to look at houses from a renters standard--not your own.   Hope this helps!