Virginia Real Estate Q&A Discussion Forum
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
Single Family Housing Investment in Williamsburg/FT Eustis, VA
First time posting so sorry if I am missing some details.
I am in the military and will be assigned to FT Eustis, VA for the next 3 years. My husband and I have been buying and living in single family homes then renting when we move (only when the numbers make sense, 1% rule or better) I have recently been looking in the Williamsburg/Yorktown/Newport News areas and haven't found anything that looks like a smart investment based off the 1% rule.
Due to our family size (family of 4 possibly growing to 5 while we are there plus two large dogs and a cat) we are looking for a 3-4 bedroom home, over 1,500 sq/ft. I know it is a buyers market right now and the prices I am seeing are in the $250,000+ range with rents at about $1900.
What confuses me is when I brought the topic up in a military landlord page tons of people recommended investing in that market. Are they wrong or am I missing another factor that could make this area worthwhile?
If anyone has any recommendations on how to make this next move a smart investment please let me know!
Thanks!