Why Invest in Real Estate in Virginia?
Virginia real estate investors can find real estate clubs in most of the large cities, including Virginia Beach, Norfolk, Chesapeake & Richmond. These groups can be formal Virginia REIAs and Meetups or might be informal gatherings of BiggerPockets members in the state.
We offer clients peace of mind by offering them ongoing services to help build their real estate portfolios to the size they feel most comfortable. Our goal for both short-term (flippers) and long-term (wealth building) investors is to minimize their overall risks and maximize the return on their investments.
After getting approval from the client, our staff completes a comprehensive financial review of the property. We do not just invest in properties blindly. Instead, we work with local architects, engineers, and environmental experts to assure that the investment is likely to be a sound one for all parties involved. If the property is found to not meet our criteria for investing, we do not vest our clients in it. If we find that the property offers an opportunity for returns, we negotiate a purchase contract that meets the specific guidelines of the investor(s). We work with local attorneys and tax consultants to document the purchase and sale agreement and establish a favorable tax holding structure for the client.
Most areas in Richmond have strong rental demand and making a good real estate investment requires choosing properties with strong long term demand and steady rental income. Some areas in the Richmond, Virginia region have greater demand because of local factors like a university or college, large regional employers or centralized locations. VCU, UR, VUU and MCV are some of the regions largest universities and all have large student populations that benefit the neighborhoods around them in terms of rental rates and demand. These neighborhoods include: The Fan District and Museum District for VCU. Jackson Ward and Carver both serve VCU and VUU. Oregon Hill, Monroe Ward, Shockoe Bottom and Church Hill all serve VCU and MCV students. Westhampton, the Malvern area, and Carytown both serve UR and VCU students. Areas like Short Pump, the West End, Innsbrook, Midlothian, Mechanicsville and I-288 all have large concentrations of businesses near them so… Read More.
We have highly ambitious plans for Norfolk – 73,000 more homes, 57,000 more jobs and 5,300 new businesses by 2026 – and our City Deal with Government will contribute significantly to achieving these plans.
Our key sectors, many of which are of national importance, are spearheading growth: the powerful
energy hub on the east coast, advanced engineering and manufacturing capabilities, for example along the A11 corridor, together with a world-class food, life-science and agri-tech cluster. These sectors present attractive investment opportunities: plenty of space for businesses to start up and grow; quality, cost-effective, commercial property compared to London and the South East; as well as lower than average operating, property and living costs. All of which is underpinned by a comprehensive business support framework… Read More.
In the Nov. 8 General Election, Fairfax County voters will be asked to vote YES or NO on a meals tax question. The Board of Supervisors does not have the authority to implement a meals tax unless approved by voters. The question asks voters to allow the Board of Supervisors to impose a 4 percent meals tax on certain prepared foods, which will be paid by residents, commuters and tourists. If the majority of voters approve the meals tax, the Board of Supervisors will dedicate the revenues to two purposes, which are specified in the ballot question:
– 70 percent of the net revenues would be dedicated to Fairfax County Public Schools.
– 30 percent of the net revenues would be dedicated to county services, capital improvements and… Read More.
The average home price in the Roanoke housing market is almost 30 percent higher than the current average sales price. This would suggest that most buyers who purchased in the market over the past five to ten years may be sitting on some equity. Over 40 percent of Roanoke homeowners have lived in their property for at least five years. With mortgage refinancing guidelines still uneasy, the process may be permitting many homeowners from exploring this option. Either way, a growing amount of equity gives buyers confidence and makes Roanoke an attractive destination for the area.
For years, the economy of Roanoke was largely dependent on local manufacturing and railroad companies. Those segments still exist, but in recent years the area has shown signs of growth. The city is the health care and retail hub for the area, as evidenced by the expansion of the Carillion health system and Valley View Mall. Advance Auto Parts are also headquartered in Roanoke, while Carillion Memorial Hospital is the largest job provider in the area… Read More.
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