Demographic effects of Raleigh , North Carolina
This topic probably applies to most of the country right now but I'll be using the numbers from the Research Triangle.
After going to my local REA here in North Raleigh a few weeks ago, I realized just how much money is there for creative finance. The main speaker was talking about self directed IRA's and pointed out the fact that there is all this money in the stock market due to a large number of baby boomers not knowing they can invest their capital in real estate.
So I started doing some digging.
From 2001 to 2013 the population here in Raleigh has increased nearly 50%
Tandem with population increase was the number of housing units.
And now, after seeing an increase in older citizens, we are in an interesting time for some creative finance.
With about 1 million people in Wake County alone and about 10% of the population over 65, the chances of creating win win deals through seller financing sounds like the new game plan.
I'm talking about a list that is 100,000 strong! ( obviously not everyone would be eligible to finance their home ) But for those who are ready to retire and take on a passive role, this might be a great way to do just that.
And for the young guy just starting out in real estate ( ie. ME ), this seems like a strong option to chase after.
What do my Raleigh friends think?