Rental Property Investor · Richmond, VA · Member since 2018 · 8 posts · 4 votes
Hi!
Im a new investor interest in buy and hold properties in the Richmond area. Specifically north and west of town.
I caught the investor bug after getting a killer deal on our personal home and turning a healthy profit in just a couple years. I've since been perusing forums and listening to podcasts for the last 9 months while searching for that right deal and I'm stoked to be closing on my first investment property next week! Im going to try the BRRR strategy hoping to grow a my portfolio by 1 or 2 properties a year. Looking forward to sharing information and connecting with others in my area.
Property Manager · Richmond, VA · Member since 2018 · 204 posts · 297 votes
7y
@Ashley K. Welcome! Lots of great folks in RVA that are making moves. Happy to be a resource if I can help. Went to @Taylor L.'s meetup group too and learned a lot. Definitely planning on going again in February.
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
7y
Hi @Ashley K.! If you're interested, I host a local RE group. Our meeting this month is tomorrow (Tuesday), our speaker will be talking about how to develop real estate. If you're interested, shoot me a PM!
Property Manager · Richmond, VA · Member since 2018 · 204 posts · 297 votes
7y
@Ashley K. Welcome! Lots of great folks in RVA that are making moves. Happy to be a resource if I can help. Went to @Taylor L.'s meetup group too and learned a lot. Definitely planning on going again in February.
Contractor · Richmond, VA · Member since 2018 · 36 posts · 11 votes
7y
Welcome to Richmond! There are quite a few folks around here that are very helpful. i’m looking to pulling the trigger on my first deal here shortly in the East End.
Investor · Richmond, VA · Member since 2013 · 347 posts · 191 votes
7y
Welcome @Ashley K.! There is a very active investor community here in Richmond (as I'm sure you can tell). Feel free to contact me if you like. One of the great things about this area is that there are so many "micro communities" within a short distance that cover a wide range of investing strategies and targets.
Rental Property Investor · Richmond, VA · Member since 2018 · 8 posts · 4 votes
7y
Thank you @Shera Gregory! I agree! There are many communities in the area that I'm not familiar with, even living here all my life! I'll probably stick to the areas north and west of the city at first since thats what I'm familiar with. Any up and coming neighborhoods I should have my eye on?
Investor · Richmond, VA · Member since 2013 · 347 posts · 191 votes
7y
Hey @Ashley K. --- it all depends on your goals. It's hard to find rentals that cash flow well in the "B neighborhoods" of Richmond. If you are looking for immediate income that's going to be tougher to find (but not impossible .. nothing's impossible!). If you want to break even (after ALL expenses including set-asides for future capex and maintenance) so your tenants can pay down your mortgage over time then that gives you more options. I like Highland Springs and the northern end of Southside which tend more toward "C neighborhoods". You can still find cash flow in those areas but you have to analyze a lot of "deals" that aren't really deals to find those diamonds.