Raleigh NC - Market Too Hot?

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Account Closed · Answer

pittsboro is a really good place to invest right now... Lots of upside. I foresee it becoming a hotbed for medical professionals and chapel hill residents migrating there for the tax benefits and roi on selling their chapel hill homes and moving there.... Also look at the commercial that's coming in there.

Shaun Palmer · Answer

@Mark KelleyAccount Closed

Mark, I have not looked at Pittsboro but it seems to make sense based on Chapel Hill getting too expensive.  I wonder how cash flow is in Pittsboro?

Account Closed · Answer

The upside is on the appreciation speculation... Just clarifying

Mark Kelley · Answer

I have no idea on cash flow. It seems worth the research though.

Mark Kelley · Answer

Hey @Shaun Palmer or others, have you looked at Pittsboro at all for buy and holds? I've not and am not buying now because I'm traveling, but I've heard about the town's growth on and off for a few years as well as Goodnight's backing of Chatham Park, a major project which it seems the locals resist because it will turn a small town into a bigger one. It's about equally close to Raleigh, Durham and Chapel Hill, and I've had a couple friends with families move from Raleigh to Pittsboro when they wanted a bigger house/more land while having similar commute to RTP area offices. I'm surprised I see/hear so little about the area on this forum, even through searches, so I thought I'd throw it out there. Maybe I'm missing something that makes Pittsboro a bad area, as I haven't looked into it deeply, but If you are thinking about placing a bet on growth over the next ten years, then it could be worth investigating.

Gabe C. · Answer

I'm finding deals, but it's taking twice as much work and they get snapped up twice as fast. It's also an opportunity to build up more reserves, so when things die down, I can do more. Or maybe do some forced appreciation if I get turnover. I haven't seen much that hits the 1% rule here either. Generally a lot closer to the .85% rule.

Looks like prices are continuing to climb... I saw they're about to drop some $700k brownstones downtown. Catching up to SF!

http://www.bizjournals.com/triangle/blog/real-estate/2016/09/new-york-style-brownstones-with-rooftop.html

Raleigh NC - Market Too Hot?

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