Viability of the Charleston WV area market

[Tyler B Collins]

Hi everyone! This is my first BP post, but I've been investing in RE (buy-and hold) for a bit over a year in Pittsburgh. The market there is insanely competitive right now, and understandably so. My partners and I have been striking out quite a bit lately, making quick, aggressive offers and getting rejected every time. 

Though I invest in Pittsburgh, I live in Montgomery, WV, about 40 minutes from Charleston. Until the pandemic, I worked in Charleston, so I am generally familiar with its various neighborhoods. I am curious about the market there, and would love to connect with some local investors. Are there any virtual meetups going on right now? Is anyone here familiar with REI in the greater Charleston area? I am interested in the challenges y'all face, what areas are desirable for investors, and whether it is worth investing in a market where the population is diminishing. 

I would really appreciate any insight you can provide!

[Kendall Staggs]

Hello @Tyler B Collins:

This is a great question and one of which I have been asking myself lately. I currently own rentals in the Huntington/ Barboursville, WV area. 

The one thing which will not change with Charleston, WV is it's the capital city of WV and WV isn't going anywhere anytime soon. Therefore, there will always be a need for rentals. There are not meet ups in the area, the closest I have found is a meet up in Ashland, KY, but we haven't met since COVID. 

The area to invest right now is the area between Winfield, WV and Hurricane, WV. Some would argue you could expand all the way to Barboursville, WV. Charleston and Huntington seem to be growing towards each other. The state is currently expanding the highway between the two to 6 lanes which will only fuel the growth. 

Hope this helps. Feel free to PM me to connect.