Lynchburg is on the rise, with huge cultural events occurring almost every day, as such it's one of the best places to start real estate investing. Knowing when and where to invest in a city, though, can make a huge difference. Do you know which neighborhoods in Lynchburg would be best for you?
As you read this article, you will learn more about five of the best locations to investigate if you want to make the biggest bucks. So, read on and think about how each area could impact your portfolio.
This is one of the most historic neighborhoods in the region, with houses in many different styles. With some of the most beautiful edifices, the home value of many locations is quite high, and going up with every year.
At the same time, there have been several efforts to revitalize the area, and so getting in before they finish would ensure a good investment.
This location has a very family-friendly feel to it, ensuring high rental potential as its suburbia is very attractive. With families, you can also expect people to want to stay for a long time, giving you assurances of long-term income.
The high property appreciation rate of locations in this area is in part due to the accessibility of both the neighborhood and its amenities. This is only getting better as outdoor recreation areas and schools continue to open up.
The locations are still very affordable, so you can also try to get in while the properties are not too expensive. As more shopping centers and restaurants open in a drivable distance, the price of the region will only go up.
As the name suggests, College Hill is close to many different academic locations, as well as popular cultural centerpieces. Due to demand from students, the mortgage cost in this location is offset by the high demand from student renters wanting to move in.
While the housing here is more student-oriented, the large number of educational facilities means you can also appeal to staff. They will want homes close to their work, despite the lively nature of the region.
This location is one of the many that are undergoing a new lease of life. Despite the old-style architecture and charming aesthetic, local authorities are trying to grow both the arts and downtown scenes. This means that rental income could shoot up at any time and it might suit you to invest now before that occurs.
A Leg Up in Real Estate Investing
Real estate investing can sometimes be a bit hit-and-miss for new investors. The above should give you a little hint at some good options instead. Though, if you start picking up a lot of property, you are going to want someone to manage it so your portfolio does not become your whole life.
We specialize in offering high-class property management for homes in the Lynchburg area. So, send us a message and let us know how we can help you today.