All Forum Posts by: Doug Poff

Satha, I drove up in the Battery Park area last week and saw the homes you are referencing.  Good potential and your advice is spot on I think.  

Reference Crime issues: I spoke with a Richmond PD Officer while up there and he suggested I sign up for a Citizen Courtesy Patrol - you can go out in a cruiser with an Officer or set for a partial shift as they drive around.  Would be a great chance to get a ground-view/crime-awareness oversight of the neighborhoods.  Definitely something to think about.

Hi Stacy and welcome.  

SS Newbie question: is there any different financing or management considerations for a vehicle-only (i.e. RV/Boat/Trailer) storage lot than for a 'pure' storage unit location?  Is one more difficult to manage than the other? Do 'mixed use' (vehicle and storage unit) lots do well, or is it better to stick to only one or the other?

@Shawn Crawley, will do - thanks. 

Colleague request sent.  Interested in Farmville, RVA area, Roanoke area, and South Hill.

Gardi,  May want to drop this question into the following thread with @Julie Fishman:

https://www.biggerpockets.com/forums/32-commercial...

@Taylor L. Thanks! I will definitely check that out.

John, Welcome to BP.  I am in the Richmond area and have sent a connection request.  I don't have a residential buy and hold in the area yet, but was am on the hunt as well - same plan as yours.

Also I highly suggest connecting up with @Jeff Brown as well.

 Merrit,

I read your thread, YIKES!

MorrisInvest posted a YouTube video (https://www.youtube.com/watch?v=W7rC2Dl3gs4) Sep 11, 2016 about a rehab project (see attached), but does not list the neighborhood or location.  

I was wondering 1) is this the type of neighborhood you described - it does not look like what I read in your post, and 2) was this the type of home and rehab 'quality' you describe.

@James Wise in relation to the video, what would you characterize this neighborhood as?  C, C+, C-, maybe even B- ?  I know the classification is fairly subjective, but would like your input to use as a future gauge.

@Jay Hinrichs I know the video is short, but I'm interested in your opinions on the actual 'rehab' items that can be seen - and any feedback overall.

@Satha Palani Great points about Petersburg, just did some cursory research and found what you were talking about ref: the city government.  What a mess - seems the better industry is around Wagner Rd/301 (Southside Regional Hospital).  Also, the school system is upside down right now too - not a good place to look for family rentals.  

Something to consider though - decent multifamily rentals geared toward singles and located close to downtown Petersburg or in the Walnut Hills area (off of 301) attract military transients (6 months - 1 year or more) i.e. students attending school at, or stationed solo at Fort Lee.  Fixed military allowance for housing (BAH) for the area is ~$1400 (single).  Might be an opportunity for getting in a larger house and setting it up to rent by the room if utilities are thrown in.