Richmond Real Estate Market Report

The Richmond Real Estate Market Report provides you with an in depth look at the current market in Richmond and can give you great insight if you’re looking to secure a hard or private money loan. All data and statistics in the market report are updated monthly and are obtained from Local Market Monitor. We are providing this great tool for FREE to anyone in the Real Estate industry to assist you with determining where the best market in Richmond is to purchase your next fix to flip or rental property. In the market report you can find the average home price in Richmond and compare the population of the MSA areas within the state. Along with the average home price, you can also view the Single-Family Housing Permits statistics and the Multi-Family Housing Permit statistics.

A really great statistic that can be of value to you in determining where your next rental property purchase will be is the Current Monthly Rent amount, along with the Rent-Home price ratio and the Rent Forecast. These are three very valuable statistics that will allow you to be more knowledgeable about the Richmond real estate market and allow you to be the most successful in building your investment portfolio.

Also available to you in the market report, is the percent of population growth, as well as the percent of the 12-month change. Another great data point that you can find on the market report is the unemployment rate along with the percent job growth within Richmond.

BridgeWell Capital: Richmond’s Direct Hard Money Lender For Residential Real Estate Investments

We are a direct licensed hard money lender serving the greater Richmond Area. If you are a real estate investor looking for a reliable source to finance the acquisition and rehab of your investment properties, you have come to the right place.

BridgeWell Capital offers the following hard money loans and services for investors in Richmond:

• Rehab loans for Investors: For residential property buy, fix and sell projects.
• Loans for Rental Properties: For residential property buy, fix and hold projects.
• Cash-out Refinances: If you need to free up investment capital from a residential investment property you own, to finance your next investment.
• Proof of Funds Letters: To prove to your sellers (or their agents) that you have the funds to purchase a property.

Qualifying for a hard money loan with BridgeWell Capital is an easy process. We approve financing based on your ability to succeed. There are three factors we look for in an investment project:

• Benefit to the borrower.
• Enough equity on the property
• A clear exit strategy: buy-fix-sell, buy-fix-hold or conventional refinance.

Richmond Real Estate Investment Market

Within the last decade, Richmond has entered the top 10% real estate markets nationally according to Neighborhoodscout.com. Richmond’s home appreciation rates are among the highest in the nation. Despite the downturn in the housing market in 2008, home appreciation stayed strong with an average annual rate of 5.34% and a total appreciation of 68.20% over the last 10 years. This has made Richmond the place where many residential real estate investors have found success.

One of the things we usually recommend our clients, specially landlords, is to look for “upward transitional areas”, that is, areas that are within close proximity of highly appraised neighborhoods or where appreciation is trending in that area’s direction. These are likely to have high appreciation prospects, and generate wealth through appreciation.

Finding a solid buy is one of the few requirements to qualify for a hard money loan. However, given the strong appreciation history of Richmond over the past decade, investors will likely find great opportunities to grow their business.

Demographics in Richmond

Wherever you plan to invest within the greater Richmond, you also need to know the demographic profile of the area. This is especially important to know what type of tenant or home owner you are planning to market to.

If you plan to sell to or attract educated tenants you are investing in one of the best places in the country. According to Neighborhoodscout.com, 33.77% of the adults in Richmond hold, at least, a bachelor’s degree, while in the average American community 21.84% of the adults have a degree.

Richmond has a major college student population and many recent college graduates looking to start a career. This creates a very large young and educated population.

The composition of the neighborhood can offer great opportunities for investments around areas of interests for the young and educated. Places around universities, restaurants, and amenities for entertainment can be especially attractive.

Although the demographic profile of the area you are planning to invest is important to market your investment property, it is not the only factor we consider when approving our private money loans. For more information about how we approve our loans, feel free to browse our site or call us at 804 469-8000

Real Estate Investors Associations in Richmond

Although it’s not a pre-requisite for our hard money loan approvals, investors in Richmond are encouraged to become part of a local Real Estate Investors Associations (REIAs). These are were real estate professionals come together to network, create business relationships, learn from each other’s experiences and learn about market trends and strategies. Some of the most popular real estate investors associations in Richmond are:

• Richmond REIA & Investors Group
• Tidewater Real Estate Investor Group (TRIG)
• Traction REIA
• Virginia Beach Real Estate Investors Group

There are great opportunities to grow your business at the REIAs. Although membership is not a requirement for a private money loan approval, it is a point in favor for the successful applicant. For more information about our private money loan opportunities feel free to call us at 804-469-8000 to speak to a representative.