I just finished speaking to a real estate agent in the Greensboro NC area who insisted that there were no deals left in the area and that I should look to another area for buying a rental property... that does not sound right based on my research, but I will ask the BP family... can anyone confirm or deny that?
I know you guys have the best pulse on the market, keep on crushing it!
Did they provide deals on what deals are left? Wonder if it is a case of prior having great deals and now they are good deals so matter of perspective of what is good deal or not.
Who told you that?? Haha. There are deals in any market especially in the Triad. You have to know where to look and make offers somewhat routinely. Be the first offer with a high due diligence fee (called earnest in many states). Or search for properties that have been on the market for 3+ months and start making lower offers. Talk to your local wholesalers (contact me for pdf of wholesalers I trust) and vet their numbers. Another strategy is looking for 2 bedroom homes with 950+ sq ft. You can most likely add a bedroom. Deals are made in this market, not necessarily found. If you want to focus on off market, start knocking on doors, writing letters, and talking to friends and family about what you're looking for. Most of the deals I currently own have been from doorknocking. Covid has put a damper on doorknocking temporarily but don't let that stop you. Yes the market is primarily a sellers market but the deals are there. I call this market an "Accuracy by Quantity Market". Send offers and send them often. Whoever told you there aren't any deals is wrong. Now if you're looking for 80k profit flips in a market where the median price point is 180k, that's a different story and much harder to come by. Decent flips, positive cash flowing properties, and BRRRR deals are still around. Get creative.