Market Spotlight: Richmond, Virginia | PREI 236

Passive Real Estate Investing

Real Estate Investing with Marco Santarelli, Investor and Entrepreneur.

Business:investing, Education, How To, Investing, Business, Entrepreneurship

4.6 • 968 Ratings

🗓️ 12 May 2020

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

In terms of real estate investing in the various great Southern cities, people don't think as often about investing in Richmond, and that's a huge missed opportunity. Prices and properties in Richmond are great, and more investors out there should definitely take a look at what this city has to offer. Marco Santarelli shines a spotlight on why you should be investing in Richmond, Virginia. It's a very diverse market and definitely deserves the spotlight after having been in the shadows of other Southern cities for so long. See what Richmond might be able to offer you! Download your FREE copy of The Ultimate Guide to Passive Real Estate Investing: https://www.NoradaRealEstate.com/FreeGuide/?utm_source=Episode_Summary IF YOU LIKE THIS PODCAST we would love if you would go to iTunes and Subscribe, Rate & Review our podcast. This will greatly help share our podcast with others wanting to learn. Thank you! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to passive real estate investing, the show where busy people like you learn how to build substantial passive income while creating wealth for the long term.
0:10.0	And now here's your host, Marco Santorelli.
0:13.0	Hello and welcome to another episode of passive real estate investing.
0:18.0	I'm your host, Marco Santorelli.
0:20.0	Today's focus is the Richmond, Virginia market.
0:23.7	Richmond is the capital city in the state of Virginia.
0:27.2	And the Richmond Metropolitan Statistical Area, the MSA,
0:31.7	is the 44th largest in the United States.
0:35.0	It includes independent cities such as Richmond, Colonial Heights,
0:39.6	Hopewell, I believe that's how you pronounce it,
0:42.0	Petersburg, as well as a number of surrounding counties.
0:45.8	Now the population of the Richmond metropolitan statistical area is very close to 1.3 million people
0:52.4	and a growing international community adds to the area's cultural
0:56.8	diversity and cosmopolitan character.
0:59.7	It's really a metropolitan area that is strong, vibrant, and growing.
1:03.6	Richmond's economy is primarily driven by law and finance and government
1:09.0	with federal, state, and local government agencies located there as well as a notable
1:14.5	legal and banking firms, multiple legal and banking firms in the downtown area.
1:19.4	Now the city is home to both a U Court of Appeals, one of 13 such courts, and a Federal Reserve Bank, one of 12 such banks.
1:30.0	Also Dominion Energy and West Rock are there, Fortune 500 companies I may add, and there are many others in the metropolitan area adding to the economic diversity. Now as far as regional
1:44.7	trends population growth has been very positive it's grown by about 2% over the
1:50.1	last two years putting it in the top 80% nationally. Job growth has been
	...

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