Richmond VA, zipcodes for solid rental buy/hold

[Karim Z.]

Hello BP's , 

I live in northern virginia , and now looking to expand to Richmond, VA area given the proximity and the better price points compared to where I live. If I am looking for SFR to buy and hold, I am trying to gather info that can help me in my due diligence phase:

1) what are the zipcodes and areas that offer solid rental market (i.e easy to rent and manage) ? 

2) What are are average cap rate in those areas? 

3) I see a lot of properties there at good price points, what's the sweet spot pricing for descent cash flow and also potential appreciation?

4) As I am looking to find something where I can add value by renovation and rent out, are those deals also available on MLS or only off-market?

5) I will be there first week of April to drive around different areas, also trying to build a team there so any other recommendations would be highly appreciated. 

Cheers, 

Karim 

[Stephen Glover]

@Karim Z. I'll shoot you an email to set up a meeting for when you're in town. I can share with you my experience as a local Property Manager along with our investor's experiences in Richmond, VA. Might be able to make some local connections too if you have specific professions you need to reach.