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Updated almost 11 years ago on . Most recent reply
SFH or Multi in Hampton Roads, VA
Hi,
Just wanted to get some advice from seasoned investors that are located at big military cities/towns. I'm planning on investing in Norfolk, VA and I'm debating whether I should invest in SFH's or Multi-Families. My original plan was to focus on Multi-family for obvious reasons. But at the same time, I'm in a military town and I think I should capitalize on that but that would mean I have to focus on single family homes and I understand sfh's could be a gamble compared to multi-families. And trust me, military people could get pretty creative when they want out of a lease. I would know because I am one and I've seen some write fake orders and there's really no way to tell it's fake.
I could really use some advice from people who has experience in investing in military towns. Am I better off with multi-families, or should i take a leap of faith and go single? Is it worth it?
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@Edsiaren Ignacio
I am prior military and i live in northern va (20min from white house), any case, i recommend SFR. here's why: if you go multifamily and you get a group of sailors in there from the same unit and they all decide to bail out..."orders", now you have to scramble and get all the housing rented. And when you do rent, I would recommend you don't go below a certain rank of your choosing. the higher the ranking usually means more responsible.