qustion for the real eastate experts in NC

Nahariya, Israel · Member since 2017 · 6 posts · 0 votes

I'm interested in making my first flip in NC and i have Question to those who know North Carolina. I have a hard time deciding where better is the Greensboro or Fayetteville?

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Alexander FelicePro Member

Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes

I invest in Fayetteville, I know a lot of people who flip there (and would probably disagree with me) but I think the flip numbers in Fayetteville are garbage personally.

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Brie SchmidtBusiness Member
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Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
8y
Originally posted by @Yuval Sadeh:
I'm interested in making my first flip in NC and i have Question to those who know North Carolina. I have a hard time deciding where better is the Greensboro or Fayetteville?
@Dawn Brenengen may be able to help
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Andrew S.
Investor · Raleigh, NC · Member since 2013 · 1k+ posts · 708 votes
8y
For Greensboro you might want to try @Karen Rittenhouse
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Karen Rittenhouse
Flipper/Rehabber · Greensboro, NC · Member since 2010 · 623 posts · 615 votes
8y
@BrieSchmidt Greensboro!
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Alexander FelicePro Member
Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
8y
I invest in Fayetteville, I know a lot of people who flip there (and would probably disagree with me) but I think the flip numbers in Fayetteville are garbage personally.
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Dawn BrenengenBusiness Member
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Real Estate Broker · Raleigh, NC · Member since 2014 · 2k+ posts · 1k+ votes
8y
I didn't realize @Karen Rittenhouse was a NC local!
Greensboro and Fayetteville will probably have similar price points. Fayetteville probably has a lot more movement with military moving in and out all the time, so if I was going to choose between the two, I would choose Fayetteville.
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Greg Fitch
Rental Property Investor · Chapel Hill, NC · Member since 2017 · 144 posts · 89 votes
8y
Investors should be leary of one employer towns like Fayetteville. If the military decides to relocate all or some of its troops the apartment market will really suffer. But the specific question is about a flip - and again I don’t think single family house prices appreciate. So Greensboro gets my vote on both counts.
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Chalie Krautkramer
Real Estate Broker · Spring Lake, NC · Member since 2017 · 35 posts · 18 votes
7y
@Yuval Sadeh Fayetteville would be better for buy and hold rentals because of the military base. A lot of people there for short periods coming and going.
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Antonio Montgomery
Member since 2019 · 11 posts · 1 vote
7y
I'm in the process of closing on a 4BD/2BA/2 Car Garage in Fayetteville. Its not in Jack Brit School District but its located in the Beaver Creek Development and the neighborhood is pristine. I'm in the buy & Hold camp. The cap rates on 4 Bed Rooms are over 20%
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Elizabeth Tumbelekis
Fayetteville, NC · Member since 2019 · 5 posts · 2 votes
7y
@Antonio Montgomery How is your property going so far? Did you close?
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Bryant Tumbelekis
Rental Property Investor · Fayetteville, NC · Member since 2017 · 78 posts · 45 votes
7y
Originally posted by @Greg Fitch:
Investors should be leary of one employer towns like Fayetteville. If the military decides to relocate all or some of its troops the apartment market will really suffer. But the specific question is about a flip - and again I don’t think single family house prices appreciate. So Greensboro gets my vote on both counts.
If the military decides to relocate? I'm curious if you realize how instrumental Ft. Bragg is in the military community? It is the LARGEST military installation in the WORLD by population and top five by size. It plays host to US Army Special Operations Command, 82nd Airborne, and two Airfields. Basically, it would be more likely that the entire city of Greensboro relocated than Ft Bragg.
I agree with @Alexander Felice, Fayetteville is best utilized for buy and hold strategies. We have a ton of investors utilizing BRRR and Delayed Financing to multiply their SFH portfolios. I believe the MFH market deals are few and far apart. Appreciation is minimal here, however, we are seeing increases in home values in Raleigh, which is forcing home buyers further and further away from that market. Fix and Flips can be excellent in this market, just have to keep in mind that you Rehab should stay consistent with the market.
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Antonio Montgomery
Member since 2019 · 11 posts · 1 vote
7y
Originally posted by @Elizabeth Tumbelekis:

@Antonio Montgomery How is your property going so far? Did you close?
I closed early on 2/11/19 pull up 5753 bear creek circle fayetteville,nc... Sellers LEFT me a riding lawn mower, a king size bed, nice couch, a plethora of scotts lawn care including two feeders. A year worth of roundup supplies for lawn care. I gave them their ask of 159k they brought 4k to close. Im only out the pocket little less than 2k. Why am I sitting between homes that will likely fetch 250k is beyond me. Also Currently properties in this neighborhood. The Pristine ones nobody is really selling. Im only the second homeowner to this house. There are a lot of original owners and 2nd owners. I couldn't be any more happy, well not til I sell this for over $200k
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Antonio Montgomery
Member since 2019 · 11 posts · 1 vote
7y
Originally posted by @Bryant Tumbelekis:

Originally posted by @Greg Fitch:

Investors should be leary of one employer towns like Fayetteville. If the military decides to relocate all or some of its troops the apartment market will really suffer. But the specific question is about a flip - and again I don’t think single family house prices appreciate. So Greensboro gets my vote on both counts.
If the military decides to relocate? I'm curious if you realize how instrumental Ft. Bragg is in the military community? It is the LARGEST military installation in the WORLD by population and top five by size. It plays host to US Army Special Operations Command, 82nd Airborne, and two Airfields. Basically, it would be more likely that the entire city of Greensboro relocated than Ft Bragg.
I agree with @Alexander Felice, Fayetteville is best utilized for buy and hold strategies. We have a ton of investors utilizing BRRR and Delayed Financing to multiply their SFH portfolios. I believe the MFH market deals are few and far apart. Appreciation is minimal here, however, we are seeing increases in home values in Raleigh, which is forcing home buyers further and further away from that market. Fix and Flips can be excellent in this market, just have to keep in mind that you Rehab should stay consistent with the market.
Exactly, I relocated from Durham, NC.. Avg listing/sqft in Raleigh is around $152 sqft. My home in fayetteville is nearly 2100 sqft priced at 77sqft and its a 4bd at that. A similar property in North Raleigh, Cary, Apex $350-$380k before interest... Imho I left 2-4yrs early. Btw yoy homelessness rate in Raleigh increased by 8%. This will be a huge political issue if this is not under control soon.
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Elizabeth Tumbelekis
Fayetteville, NC · Member since 2019 · 5 posts · 2 votes
7y
@Antonio Montgomery wow! Are you going to purchase more? I was just at some properties in Fayetteville today. B & H market, delayed financing etc in this area has a lot of potential.
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Antonio Montgomery
Member since 2019 · 11 posts · 1 vote
7y
Originally posted by @Elizabeth Tumbelekis:

@Antonio Montgomery wow! Are you going to purchase more? I was just at some properties in Fayetteville today. B & H market, delayed financing etc in this area has a lot of potential.
Im selectively looking at SFH tough to find a profitable price point in the top school Districts
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