Home Buying in Williamsburg>Question Details

gcatalano, Other/Just Looking in Williamsburg, VA

could I buy an apartment to be rented in Williamsburg area?

Asked by gcatalano, Williamsburg, VA Tue Oct 16, 2012

I'm thinking to make an investment but I read here that there are some restricitions

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Depending on the location yes there could be restrictions. Zoning ordinances apply to all properties. The key to being a profitable investor is to pick an area of investment. Focus on that area until it has earned you the return on investment you want to achieve. Apartment Rentals can be a good investment but there are alot of varibles. Contact me at Greg Garrett Realty.com for furtur assistance. ssherman@ggrva.com
0 votes Thank Flag Link Thu Oct 18, 2012
You can buy a condo, townhome or singel family home to use as a rental. However, some condominium associations have restrictions in their condo docs concerning the maximum numbers allowed in their community. If you are interested in a condo the key will be in finding a condo association that has not reached its maximum (that is if in fact there is a restriction in that community). Once you write an offer and it is ratified you will be given a copy of the documents for the community. Those documents will lay out the rules for the community. Try Governor's Grove at Five Forks - it is a new condo community -- If you have any further questions I would love to help you find the perfect investment property for you,
0 votes Thank Flag Link Tue Oct 16, 2012
There are several town home and condo communities where you can buy and lease the property , but a few have rental limitations so you want to buy the right property. I have experience throughout the area and can help when you want to look at your options
Web Reference: http://Www.jimmellen.com
0 votes Thank Flag Link Tue Oct 16, 2012
When buying any investment type property you must be careful to research all CC&Rs that could affect that investment. You could look into buying a condo or town home style property and rent that out. Always remember that location, location and location are the three most important facts especially when buying investment property.

I would be happy to assist you if you wish. Call me at 757-812-0399 and lets talk.

John R. Beavers, Realtor, SRES,ABR,e-Pro
Heartland Realty LLC
0 votes Thank Flag Link Tue Oct 16, 2012
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