I would appreciate any advice,strategies,deals or networking opportunities in the Durham N.C area. I would love to rehab single family homes in Durham but I've had a hard time getting an Idea of what areas to focus on and which ones to avoid.
@Adrian Becoat Why don't you join TREIA and attend the main meeting, the TREIA West meeting, and the New Investor meeting?
I made a ton of money over the past five years in Durham, and I am very fond of all that is happening there. I also have a positive outlook on Durham and the Triangle in general.
Spend more time in the actual area. As Adam mentioned, go to the TRIEA west meeting, it’s basically Durham investors. Go to the local PAC meetings in Durham and talk with the police, neighborhood watch and folks in the area. Spend Sunday afternoons going to open houses. Durham is a small city that you can get to know fairly quickly with some effort.
My experience is that investors have poured into Durham in the past two years, pushing prices up dramatically. There's a lot of money chasing single family now. In some neighborhoods I'm not confident returns will be sustainable if the housing market slows down - you might get 'caught' which is a bad place to be. Keep in mind too established investors there also going to have a lock on good contractors (although you are based in Raleigh so you have have a good team already). You may have better luck partnering with an experienced investor in Durham than going it alone, at least initially.
Durham varies dramatically from neighborhood to neighborhood so I recommend walking them to get a feel for where you want to be, and while you are at it, go to open houses on Sundays and talk to the agents - if they are trapped in an empty house for hours, they're often happy to chat with you.
There are also some wholesalers active in Durham here on Bigger Pockets; you might try to establish relationships with them. I have not had much luck there though.
@Greg Fitch Thank you for taking the time to respond, great advice and it will be put into action immediately!!!
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