New Western Announces Entrance into Virginia Beach Real Estate Market

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Feb 08, 2023, 08:00 ET

Company Delivers Opportunity for Rehabilitation of Historic Town's Homes With Opening of a New Office

VIRGINIA BEACH, Va., Feb. 8, 2023 /PRNewswire/ -- New Western, the largest national private source of fix-and-flip residential investment properties, announced today the opening of its first Virginia office and 52^nd local market, in Virginia Beach.

"Virginia Beach is an exciting market for us to enter as it begins to turn to favor rentals over buying," said Kurt Carlton, co-founder and president of New Western. "With a local naval base, Virginia Beach has a steady and strong rental market that is recession-resistant and allows New Western to identify homes in need of repair that local investors can fix and flip or rent. We are confident about the opportunities for investors, buyers and sellers in Virginia Beach."

Thanks to its diverse population, proximity to a U.S. military base and beautiful beach, Virginia Beach has a fairly competitive market. Its wide range of home prices also makes it an attractive market for people across the spectrum. For investors, the area's historic charm also presents an opportunity to revitalize aging homes' infrastructure and return them to market at affordable prices, as New Western's rehabbed homes are about 31% more affordable than a new build.

Kerrel Gomes is the general manager leading the Virginia Beach office. Gomes began his real estate career in New Western's Raleigh office when it first launched and brings that experience and expertise to the Virginia Beach office opening.

"I started my career in real estate, working alongside my father who was a contractor for fix-and-flip properties," said Gomes. "Working with him inspired me to pursue the real estate investment market full-time, which brought me to New Western's Raleigh team where I learned and became part of an incredibly talented and amazing group of people. Now I have the opportunity to run our Virginia Beach office, working with our team of investors to bring supply to an in-demand market and revitalizing an area that is filled with historic charm."

Since 2008, New Western has bought and sold more than $15 billion worth of residential real estate by leveraging data and local market insight to stock its marketplace with exclusive investment properties. In January, New Western shared insights on the residential real estate investment market in a report called, The Flip Side.

About New Western
New Western is a licensed real estate brokerage that makes real estate investing more accessible for more people. Operating in most major cities, our marketplace connects more than 150,000 local investors looking to rehab houses with sellers. As the largest private source of investment properties in the nation, we buy a home every 13 minutes. New Western delivers new opportunity for all—a fresh start for sellers, exclusive inventory for investors, and in doing so, creates housing that is more affordable for buyers. For more information, visit www.newwestern.com.

SOURCE New Western