New Investor seeking SFH in RVA

[Rafiq Islam]

Hi folks,

I am a new member and seeking for some advice on investing rental properties in RVA or central VA in general. I have found wealth of information from BP on investing on real estate. Now willing to connect and start investing on rental properties.

I travel for work but have been looking for some passive income opportunities for the last year or so. After some thought me and my wife agreed rental properties could be a good plan for us. We are not looking for instant ROI. More about buy and hold scenario with positive cash flow and returns coming in the long run. I am looking forward to get started with something within 100k to 120k range.

I did research about some Turn Key investors around US. I am not aware of any reputable ones around RVA/VA though.

Best,

Rafiq

[Jon Deavers]

Hi @Rafiq Islam

You definitely won't find anything for $100-120 on Monument Ave except for the odd condo which will likely have a prohibitively high COA dues. Proximity to U of R is also going to run you a minimum of $230k (and there is a lot more on campus housing at UR than there is VCU). 

I also suggest the tri-cities for SFH's 100-120k. Great working class industrial/manufacturing/retail employers throughout southern Chesterfield and tri-cities as well as Virginia State U, Fort Lee. Pretty easy to hit a 1% rent to price ratio there with relatively little or no rehab.