Live in Flip in VA Beach, Norfolk, Chesapeake

[Nick Macklin]

I'll be moving to the area sometime around February and would like to buy and rehab a place before moving in.  The intent would be to use it as a rental when I left 2 years later.  Ideally I would add an extra unit as well.  Trying to keep location convenient for commuting to NS Norfolk and the majority of hospitals in the area.  Decent schools would be a bonus.  Any recommendations on neighborhoods/ areas to look and market to?  VAB Town Center was recommended by a friend and fellow investor but I figured I'd cast a wider net.  Thanks!

[Nelson Van]

@Nick Macklin

There are a lot of different options in our area. I would recommend contacting one of the agents who has posted on here already but I will hit on a few things pertaining to our area that you may want to consider.

1) Norfolk — Lots of distressed houses and opportunities, below average school system, crime can be an issue if you don’t know your way around.

2) Chesapeake — lots of new construction competition, longer commute time, for the most part good schools

3) VA Beach — I would aim for something close to I264. Quicker commute times, real estate tends to be cheaper, schools are decent.

As far as adding a unit you will have to be creative in the VA beach/Chesapeake areas because multi families are few and far between. I have seen a few properties in VA Beach with detached garages that would be prime for AirBNB.

Good luck on your search and feel free to reach out.