All Forum Posts by: Laura Tokgozoglu

Love investing in Lynchburg!  Read some of my posts about it if interested!

Lynchburg is amazing for Airbnb. At least is was precovid due to all the events at Liberty University. But my feeling is that it still would be. There are many online students who come itnot town for some training and  need short term( a couple of weeks or so) rentals. As well as parents and students visiting year round to see if they want to attend or to visit a child who is attending. If I had the opportunity to buy in any market, this would top my list. As a side note, we had an airbnb in Aiken SC and did very well there...it is a unique community that has alot of horse and polo people traveling from all over and it has a vibrant Artists community.

This may be a little different,but talk to your accountant and see if you will be able to reduce your taxes, using the mortgage interest and depreciation. We do this but we are in a very high tax bracket and we itemize...we figure this in when we look at the numbers. And I am kind of weird but I think that if it is a really solid property that is in a great location and is the hottest area in town to rent, always has a waiting list etc. It might be worth looking at. This is what we did and the properties  have appreciated nicely. Look at all the numbers for the duration of how long you will own it, not just the month to month cash flow. Unless of course you need the cashflow to cover all the costs...we have enough to pay the difference and this is what I look at... if I am paying $100 per month over and I keep it for 10 years and then sell it and make a profit of 50,000. then I have paid 12,000 and made 50,000 so even though I did not have cash flow I made some money. But I would think after a few years you would also be cash flowing so now the numbers even look better. Maybe I'm looking at this wrong, I am happy to hear others opinions on this, maybe I am missing something...

We are out of state investors. We invest in Lynchburg VA. We are familiar with it as 2 daughters went to school there. We use a property management company and that is key for us. All tenants have paid rent during Pandemic so far, we have 3 condos and a townhouse. I feel Lynchburg will weather the upcoming downturn well.

What kind of properties will people be looking for in the future? Will people move out of the cities? Will they be buying acreages? What about vacation properties? Will RV parks become more popular? I am thinking RV travel will become more popular as people will not want to fly. Storage Facilities? 

Excellent! Thank you for sharing!

We have Three 2br/2ba Condos in the Cornerstone area and One 3br/4ba Townhouse in Wyndhurst. They have been great rental properties. I am interested in what realtors, lenders, investors etc. think the Covid 19 virus will have on the market in Lynchburg. I am hoping that Liberty University will be the economic engine that keeps Lynchburg somewhat sheltered. I feel that retail will take a huge hit and many smaller operations will not be able to recover. I would appreciate any thoughts. I am wondering if it might make sense to sell one of the condos in order to get a little more cash. We have some equity. My husbands job is secure and we do have savings, even if we did not get paid rent for a month or  two we would be able to manage. 

Welcome to Lynchburg! We own 3 condos in Lynchburg and  are looking to buy a 4th property.

Great place to invest!

Hi Jordan,
If you click on my photo and go to that page you can see all my recent forum posts on investing in Lynchburg...not all will pertain to your question but hopefully you will glean a few good thoughts...

We are out of state investors and we've bought 3 condos in the Cornerstone/ Capstone area and have never had a problem with getting tenants. We use Priority One Property Management. My impression is that Lynchburg is a good solid place for investing. Liberty University provides the town with many students and young professionals who need places to live. It is also a very good town for Airbnb. We use Mickey Herzing as our Realtor, he is also an investor in Lynchburg and is very knowledgeable, give him a call.