If you’re familiar with Hampton Roads, Virginia it should come as no surprise that real estate investment is growing - fast.
Here are the three key things that make Hampton Roads the perfect place for your next investment property.
1. Up-and-Coming Neighborhoods
One of the biggest draws to investing in Hampton Roads real estate is just how fast some of the neighborhoods are growing.
How fast? WalletHub named Virginia Beach, Chesapeake, Norfolk, and Newport News among the top 150 cities for fix and flip investing in 2017. Each of these cities is packed with a wide variety of neighborhoods, some of which are growing and changing for the better at a rapid clip - areas like Brooks Crossing and Burton Station (the latter with median home prices ~$100,000 below Virginia Beach) are prime spots for real estate investment.
Hampton Roads can’t be beat in terms of location. Wedged between a beautiful seascape to the east and acres upon acres of nature begging exploration to the west, it’s impossible to overstate the natural splendor that is Hampton Roads. Hampton Roads also has access to some of the most elite private schools in the region, including Norfolk Academy and Cape Henry Collegiate School.
2. Growing Economy
One of the surest signs that Hampton Roads is a great site for real estate investment is its booming economy - because with strong economic growth comes a higher demand for quality housing.
By 2020, Hampton Roads is expected to add as any as 30,000 jobs, which will further reduce its already-low unemployment rate, which currently sits at 4%. The local universities and educational institutions contribute to a highly skilled labor force that’s becoming increasingly high-tech - no surprise considering the area is home to NASA’s Langley Research Center and Jefferson Labs.
3. Financing to Meet Your Investment Needs
The final hurdle you’ll need to clear before you can acquire your Hampton Roads investment property is acquiring the funding to get the job done.
That’s where Walnut Street Finance comes in. With financial products that address a wide range of investment needs, we can help you make sure that your dream project becomes a reality. Whether you’re interested in a fix and flip, a teardown, or an acquisition, we’ve got you covered - plus, with decades of experience in real estate, the benefits of funding from Walnut Street Finance are more than monetary.
The Bottom Line
From its booming economy to its many up-and-coming neighborhoods, Hampton Roads is a region fast on the rise. If you’re interested in getting to work on your investment property, contact Walnut Street Finance today.
And in the meantime, if you’d like to learn more about the economics of hard money lending, check out our free ebook, Which Loan Type is Perfect for Your Project.