Working as a real estate consultant in Charlottesville, Virginia (home of The University of Virginia) since 1991, I’ve helped parents, students and alumni as well as townies evaluate residential real estate for income producing or family rental potential. Over the years I’ve branched out to other university and college towns working with local agents helping clients with housing for children and/or investment properties.
Blacksburg and Charlottesville trade lots of students back and forth. Scouts I met while working with a Boy Scout troop in Blacksburg as I attended Virginia Tech, looked me up in Charlottesville when they came college at UVA. College towns contain a built in supply of renters with graduate & undergraduate students plus faculty & staff. Even during our new economy, the Virginia Colleges and Universities continue to grow. Currently I’m working with some RE/MAX agents on a property in Blacksburg, Virginia adjacent to the Virginia Tech campus. We’re heading down for a home inspection today. Each investor has different needs and criteria so we work together developing an individual format to use when evaluating properties. From the early 90’s through 2007 “Kiddy Condo’s” (apartment building converted to condominiums and then sold to parents while children in school) were extremely popular. With our recent real estate market corrections and changes in loan requirements, financing for condo’s can be a challenge. I had some clients whose purchase doubled in value over three years leading to a nice profit. I don’t see many opportunities like that these days but solid positive cash flow opportunities remain with 20-30% down payment.
If you want to see available properties in Central Virginia, please use our FREE real estate search tool. Whether you’re interested in an investment for yourself or housing during a college term, I am here to help, so let’s talk!