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All Forum Posts by: Rich Lambert

Rich Lambert has started 1 posts and replied 3 times.

Sean,

Thanks for the helpful information.  I do like the Sandbridge area, but as you say, it is quite pricey.  I'm not sure yet how much we can qualify for, given the current interest rates and addition of unknown rental income.  

What is the average price right now for properties in the oceanfront resort overlay?  And what types of dwellings are typical of that location?  Detached?  Multi-unit condos?  

To be honest, I hadn't really thought of Lake Anna, until I saw the ranking that you cited.  The proximity is certainly very attractive.  Do you have experience in that market or can you recommend someone that is familiar with the Lake Anna?

Thanks,

Rich

Hi All,

My wife and I are considering investing in a short term rental in the Virginia Beach area. We'd like to own property (house or condo) that we can use for vacation several weeks of the year and rent out the remainder of the time. The goal would be to find a decent 2 to 4 bedroom place close to the beach (or other outdoor attraction) that would allow us to realize a modestly positive cash flow. We might also be open to other markets, as long as they are within 4 hours of our home in Northern Virginia. As someone who has never invested in rental property before, I'm in the process of trying to educate myself, so I welcome any useful recommendations or suggestions related STR investing/analysis, financing, property management, etc., as well as any information specific to the Virginia Beach market. I'm excited to learn and look forward to engaging further with the community!

-Rich