Do you ever catch yourself wondering if you should start investing in properties in Blacksburg, VA or the New River Valley? This area has a unique market; we have one for students and one for professionals seeking housing. A common misconception in the area, specifically in Blacksburg, is that student housing is the only or the best opportunity for investment properties. Putting it simply, that is not the case.
Professional investment properties are an equal, if not better, opportunity for investors in the area, especially in the current state of the market. The demand for housing for professionals in the area is becoming more prominent in Blacksburg and throughout the New River Valley. “Between the employees and students at the local colleges (Radford and Virginia Tech) and other residents looking for cheaper options throughout the rest of the New River Valley, this area offers both a competitive market and a constant, steady stream of interested renters,” stated Victoria Outland with First Heritage Mortgage LLC
“We are seeing rent on student housing flatten while rent on professional housing is remaining strong,” stated Erik Leuschner with Real Property Management Insights.
When starting your investing journey, many people believe that cash flow is the only way to make money on your investment. However, appreciation and depreciation of assets as well as tax benefits also contribute to how successful your investment is. When thinking of your current or potential rental property, a good practice is to think of it as a business–that’s exactly what it is. In our current market, investing now will eliminate the risk of mortgage rates increasing as time goes on. Although mortgage rates have dropped since their peak, we aren’t expecting drastic drops again, so if you are looking to invest, there is no need to wait. Investing now will only allow for your property value to increase and if there is a market shift, refinancing is always an option when mortgage rates decrease.
“Anytime is a good time to invest. Property investments are where you see the highest and fastest return on your investments.” -Victoria Outland
Do you want to know what you’re getting yourself into prior to jumping into an investment or “new business?” Real Property Management Insights has a Wealth Optimizer tool that allows you to estimate your potential profits of your rental property by allowing you to include all the variables you run into when taking on an investment property. Make sure to test it out and if you still have questions, reach out to Erik Leuschner to help guide you through the process!
If you are worried about cash flow and not seeing a return on your investment, reach out to Victoria Outland to help you through your investment process with creative mortgage solutions.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
