Looking for short term and multi-family

[Tom Minturn]

I am looking for opportunities and wanting to learn about real estate in WV. 

[Jasper K Juhl]

@Tom Minturn,

Great question about learning real estate in Charleston, WV. As someone with a wealth of experience in both short-term rentals and multifamily properties, I can tell you that Charleston is a really interesting market right now. You're likely looking at lower acquisition costs compared to other states, which could give you a lot more flexibility in terms of cash flow and potential ROI.

In terms of short-term rentals, Charleston might not have the same tourist appeal as larger destinations, but don’t underestimate its potential. There’s a growing demand for corporate and medical stays, especially with healthcare facilities and the energy sector around. The key is in selecting the right property and understanding the local regulations for short-term rentals—make sure to do your homework here, as some local laws can be tricky to navigate.

If you're also considering multifamily, it's good to know that Charleston's rental market has been relatively stable. The population growth might not be skyrocketing, but affordability, combined with steady job growth, is creating a solid rental base. I’d also suggest taking a close look at the types of renters you’re likely to attract—think about longer-term tenants who value affordability and proximity to work.

One thing I’ve learned the hard way is that smaller markets often reward investors who take the time to get to know local contractors and property managers. Building a strong local team can be the difference between success and a major headache down the line.

PS: Did you know that Charleston, WV has one of the lowest costs of living among state capitals? That can translate into higher yields if you manage your property well.