Getting into RE development in Hampton Roads VA in the future

[Marlon Thomas]

Hi BP, I am 21 years old and located in Williamsburg Virginia. I am in the process of getting my real estate license and Iaspire to become a broker and possibly start my own brokerage someday. However, although I am interested in the sales side of the business, I am also highly interesting in RE development. I would say the seven cities of Hampton Roads are not major metropolitan areas so it is a smaller market that will always have demand since we have a strong military presence with our multiple bases, major shipyards and other major employers.

As an investor I would like to start out doing fix and flips just to get my feet wet with risk, building a team, raising financing etc. Then hopefully move on to commercial renovations and finally, ground up development. A developer in Hampton Roads by the name of John H. Peterson Jr of Terry Peterson Companies started out in the industry as an an agent and is now one of the leading developers in the region. So I know it’s possible, but I would like to hear your thoughts and advice. I also am aware that mentorship and  establishing connections/relationships are very vital for my plans if they are feasible. Thanks in advance!