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Buying & Selling Real Estate

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Keep as rental vs sell home in Jack Britt district.

Posted Jan 17 2023, 07:36

I have a 2,500 sqft home in Fayetteville NC valued around 315K, 4 bedroom 2 1/2 bath 1/2 acre. Built in 1989, located in a desirable neighborhood. The house needs some rehab I'm guessing  $25-30K in rehab expense to bring it up to market value. I currently owe 156K. My long term goals is to accumulate long term and short term rental properties, eventually multi family. I am also learning more about assisted living. I'm a registered nurse so assisted living as a business and real estate investment is intriguing. 

My questions are:

1. Is Fayetteville NC a good long term rental property in regards to appreciation.

2. Would it be wiser to sell the house and 1031 exchange into a more valuable home in a area that is likely to appreciate faster. 

              a. For more detail I am currently paying $985 per month and Zillow has rental value at $1890

3. Redfin had Fayetteville's competitive score ranked in the 80's. Thant's one of the highest in the country. Does anyone know why Fayetteville is so competitive?

3. If America goes to war would that drop value of homes in Fayetteville?

I am new to bigger pockets and this is my first time posting on the forum. The information I have obtained has been valuable and much appreciated.

Thank you for taking the time to answer my questions, Derrick Blackwell

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Matthew E Weber
  • Wholesaler
  • Augusta, GA
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Matthew E Weber
  • Wholesaler
  • Augusta, GA
Replied Jan 20 2023, 12:13

Fayetteville is one of the best Buy & Hold Markets in the nation and has been for a long time. If we went to war it would not effect your rental. The military would need more personnel and Fort Bragg is known as the Mecca in the military as well as being the largest military base for personnel. That doesn't include the DOD civilians and contractors. Being a veteran it is know throughout the Army that Fort Bragg gets everything first. (equipment, personnel, funding). 

The Housing allowances also just increased at the beginning of 2023 so that mean service members and veterans in the area using their GI Bill have more money to put towards rent. 

If you rent out your property it could bring you good returns. If you based your estimated value of your home off accurate and similar comps then you could easily buy 2 properties to buy and hold in the area and see a larger return. I regularly get and sell properties in the area working directly with investors. 

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Replied Jan 20 2023, 13:45

Thank you for the insight! I'm learning all I can about real estate. Currently reading David Greene's BRRRR book. Could you enlighten me on how to purchase 2 more properties? Are you talking about refinancing and putting down payment on 2 smaller properties?

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Matthew E Weber
  • Wholesaler
  • Augusta, GA
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Matthew E Weber
  • Wholesaler
  • Augusta, GA
Replied Jan 30 2023, 10:31

I am talking about in the Fayetteville market most houses that I am moving are priced from low to high 100s purchase price with significant value add potential. Many of these properties are perfect for doing either Fix & Flip or Buy & Hold. If you went through a hard money loan, VA, FHA or other financial means you are able to purchase multiple cash flowing properties for the single price of your current property.

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Jewel B.
  • New to Real Estate
  • Lehigh Valley, PA
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Jewel B.
  • New to Real Estate
  • Lehigh Valley, PA
Replied Feb 1 2023, 22:51
Quote from @Matthew E Weber:

Fayetteville is one of the best Buy & Hold Markets in the nation and has been for a long time. If we went to war it would not effect your rental. The military would need more personnel and Fort Bragg is known as the Mecca in the military as well as being the largest military base for personnel. That doesn't include the DOD civilians and contractors. Being a veteran it is know throughout the Army that Fort Bragg gets everything first. (equipment, personnel, funding). 

The Housing allowances also just increased at the beginning of 2023 so that mean service members and veterans in the area using their GI Bill have more money to put towards rent. 

If you rent out your property it could bring you good returns. If you based your estimated value of your home off accurate and similar comps then you could easily buy 2 properties to buy and hold in the area and see a larger return. I regularly get and sell properties in the area working directly with investors. 


 Plus even if they get shipped elsewhere, they still usually have families who will be remaining in the home.