Investor from Northern Virginia (NoVA)

[Naveen Kumar]

As a new investor, I am looking to form a team of like minded individuals, and guidance from people who have been-there-done-that on what pitfalls to avoid.

Northern Virginia looks like an exorbitantly priced area, and looks like there are options to be found in the Richmond, Charlottesville areas.

Thoughts, ideas?

thanks

Naveen  

[Jeremy Hart]

Hey there @Naveen Kumar. I've rented to students both in Radford (Radford U) and Blacksburg (VT), and really haven't had a problem. What I've found personally - and what my buyers have found - is that when you screen tenants well, and you give them a good place, they typically don't trash it. If your property is just as trashy as all the rest of them around them, it ends up getting trashed. 

Our per bedroom rates are lower than Charlottesville, but so are our median prices, and we've got a steady stream of renters. Slow and steady.