Investor · New York City, NY · Member since 2017 · 146 posts · 56 votes
Hello Raleigh BP members. I'd really like to learn more about the Raleigh market and potentially jump in, but I've been told it's really tough to find decent cashflow. Most of my experience is with buying 2-4 unit Multi-Family and Single Family. My strategy has usually been to buy cash and then cash out refinance.
I'm wondering if there's anyone who'd like to connect and discuss how best to gain a foothold in the area.
Realtor · Charlotte, NC · Member since 2023 · 245 posts · 231 votes
2y
It is really tough to find a cash flowing property in the Raleigh area. Most of the clients I have that end up purchasing in the Raleigh market are in it for the equity gain but it does cost them some out of pocket until they can refinance out of the higher rates some time next year, hopefully.
Real Estate Agent · Wake Forest, NC · Member since 2015 · 66 posts · 54 votes
2y
If you are looking to cash flow Raleigh is not the place. Prices are too high and competition is fierce. It is a great buy and hold for appreciation area. Going further outside of the city can be an option, but of course your rental demand will be lower. With the way the area is growing however demand will be expanding . It wasn’t too long ago that you could find great deals in places like Clayton and Youngsville. Now those areas bring top dollar.
Hello Raleigh BP members. I'd really like to learn more about the Raleigh market and potentially jump in, but I've been told it's really tough to find decent cashflow. Most of my experience is with buying 2-4 unit Multi-Family and Single Family. My strategy has usually been to buy cash and then cash out refinance.
I'm wondering if there's anyone who'd like to connect and discuss how best to gain a foothold in the area.
Raleigh is a great market to jump into but you certainly will have a hard time find cash flows on the properties. Much like @Chris Carrigan mentioned the Raleigh is expanding and there are areas that it is effecting that are becoming more desirable rental markets. I have came across a few on the outskirts usually 45 minutes out from the city center but let get connected. If you are looking to build a rental portfolio there are some really great markets that are near by.
Real Estate Agent · Raleigh, NC · Member since 2021 · 240 posts · 281 votes
2y
@Account Closed - Our clients who are looking to buy and have cash flow on day one are analyzing deals with a 30-45 minute commute to Raleigh or Durham. Duplexes are tough to come by in any local market, but some come available in markets like Henderson, Rocky Mount, and Wilson.
Once you get away from the larger towns, what you get in rent for a three bed two bath stick built home verse a three bed two bath double wide on a permanent foundation is not that different. There are more double wide trailers out there that pencil out than there are duplexes.
If you ever want to jump on a call and chat local RE, just shoot me a text and we can get something on the schedule.
If we don't connect beforehand, I hope you have a Merry Christmas!