All Forum Posts by: Austin Jones

I would recommend only using a short or mid-term rental house hack for a 2-4 unit property or a house with a detached ADU for your security and the comfort of the guests, which will make it more profitable. Feel free to reach out if you need help with anything!

Hi Mr. Crawford, I work with many investors in The Richmond Area. I'd be happy to assist you. Feel free to reach out if you have any questions or ever need anything!

Hi Mr. Smith, I work with many investors in The Richmond Area. I'd be happy to assist you. Feel free to reach out if you have any questions or ever need anything!

Welcome! I’m always helping clients find investment property in the Richmond area feel free to reach out if you ever need anything! 

Due to the current high interest rates and prices, many investors are choosing to increase their down payment to ensure a positive cash flow even in the not so "nice" areas and plan to refinance in the future. A few neighborhoods that are a tier below the west end and that would probably make more sense for you when running your numbers would include Montrose, Chesterfield, East Highland Park, Colonial Heights, and Sandston. Feel free to reach out to me if I can help you in any way!

The Tri-Cities area just south of Richmond which includes Colonial Heights, Hopewell, and Petersburg would be the best area to find properties under 200k that might fit the 1% rule if they need a rehab. Please let me know if I can help you in any way!

Hi Mr. Smith, You will need to stay within the city to find a small multifamily property. The neighborhoods of Church Hill and the Fan are known for having higher rents and better appreciation rates for multifamily properties. However, the higher prices in these areas can make it harder to afford and make the numbers work. On the other hand, Jackson Ward and Manchester offer lower prices and rents with less appreciation, but they are easier to afford and easier to cash flow/break even. Feel free to reach out to me if you need help with anything!

Hi Mr. Bennett, there are very few if any properties I know of in the Richmond area that need small rehabs under 200k. I would recommend either being more open to larger rehabs or getting your purchase price closer to the 250-300k range if looking for smaller cosmetic flips. Feel free to reach out if I can help in any way!

Hi Ms. McKnight, the only way to calculate ARV is to look at the comparable's in the area that will be similar to the subject property after repairs. I am not aware of any tools to help with this but if you find one make sure this is the method the tool uses and confirm with a realtor. Good luck!