Thoughts on Petersburg?

[Leora Merrell]

Hello! I'm located about two hours north of Richmond but have spent some time researching to area. I'm interested in SFH to be LTRs. Anyone have any luck in Petersburg? If not Petersburg, then where? Thanks!

[Linda S.]

@Leora Merrell,

In general, for out of town investors-- I agree with @Taylor L., stay away from Petersburg.

It's easy to get enticed by low prices, but if you don't know the area,  it likely won't work in your favor.   I see it a lot, people buy there-- think it's just like Richmond, don't really understand the amount of neglect/work is needed,  don't understand the culture, and often end up with evictions and frustrations not worth the extra income.  

I live in Richmond and invest in Petersburg.    There are still a few areas/streets that you couldn't pay me to take the house, unless you're down there-- you won't know. 

 If you do decide on Petersburg, go for 23805, that's the nicer area and the prices reflect it!   Check out Hopewell, South Chesterfield, Colonial Heights, those are less of a gamble as they have better schools!