Rental Property Investor · York, PA · Member since 2017 · 59 posts · 41 votes
I have invested in a couple smaller multifamily deals in PA but I am currently looking to move into larger units (20-100 units). I analyzed a couple of markets and decided I want to target Raleigh & Charlotte, NC for a variety of reasons. Within the next month or two I plan to make a weekend trip down to NC to visit both Raleigh & Charlotte to get a better feel for the markets. I am looking for the following;
-Local investors willing to meet & network
-Recommendations for PM companies to meet with
-Attractions, food places, & things to do for fun in the area as my wife & son will be along
Thank you in advance for any help or recommendations! I look forward to networking and meeting some great people in North Carolina.
Realtor · Raleigh NC and Greensboro, NC · Member since 2019 · 394 posts · 392 votes
7y
Hey John - you may find it challenging to get many good deals in the multifamily area in Raleigh. A lot of good SFH and condo's though. Nevertheless always open to grab coffee and ride around the area. As far as attractions/food - shoot me a PM regarding what you (and the little guy) like to eat, and I'd be happy to help!
Realtor · Raleigh NC and Greensboro, NC · Member since 2019 · 394 posts · 392 votes
7y
Hey John - you may find it challenging to get many good deals in the multifamily area in Raleigh. A lot of good SFH and condo's though. Nevertheless always open to grab coffee and ride around the area. As far as attractions/food - shoot me a PM regarding what you (and the little guy) like to eat, and I'd be happy to help!
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
7y
@John Cassel shoot me a message with the dates you’re in town. If I’m free happy to meetup and talk shop. I’m not a broker or anything so I won’t try to sell you on anything.
Thank you all so much for reaching out. Hopefully I am able to meetup with all of you when I make that trip down south. Once I know the weekend I am coming down I will definitely give you all a heads up to see if I can coordinate with each one of you. I love talking real estate and hearing other investors stories. If any of you are ever looking to invest in any markets in PA, please let me know I will be sure to help in anyway possible.
Rental Property Investor · York, PA · Member since 2017 · 59 posts · 41 votes
7y
@Tiffany Alexy@Brent Zande Awesome! Thank you for reaching out. I am definitely interested in linking up. At the moment it looks like the last weekend in June but it’s not definite yet.
Flipper/Rehabber · Charlotte, NC · Member since 2016 · 8 posts · 3 votes
7y
Hey John, welcome you and the family to Charlotte, the Queen city. and chop it up on the area my insite and experience in the market here. would love to network with you and share. like yourself I to focus on self development and read few books like RD/PD !! And one of my favorites of all time Ryan Holiday Obstacle is the way. it would be a pleasure to link up ..Thanks John
Rental Property Investor · York, PA · Member since 2017 · 59 posts · 41 votes
7y
@Dutch Langley, @Nathalie Chew, @Karl Swain thank you all for reaching out. I would love to meetup when I am down in that area. Nathalie, thank you for the recommendation I will definitely be reaching out to Jesse.
Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
7y
Just so I understand... you are looking at Raleigh and/or Charlotte for a 20-100 unit apartment while you would be still living in PA, correct? I'm just curious if you are going with a Fannie Mae Small Multifamily Loan program and/or if you are already working with a lender. In the Raleigh market virtually anything worth pursuing is off-market and buyers with lender commitments at least get a glimpse of deals. I assume you meet the absentee ownership requirements (two years comparable multifamily ownership experience) and collective net worth requirement (key principal's net worth must exceed loan amount) or you wouldn't be posting. Local commercial lenders will look for the same, as well as your local relocation (or your local team member's participation.)
I got a glimpse of buyers when we sold our $5.2M property a few years ago. We only dealt with those who were prepared. Lots of tire kickers our broker filtered out. Our Raleigh market still amazes me that pricing is the way it is -- which is above what I think is rational. But this isn't exactly new. I've felt this way decades before, on and off, about parts/areas inside the beltline.
Anyway, best of luck to you in this market of limited supply and, at the moment, profoundly deep buyer interest when something (off-market) gets people's attention.
Specialist · Huntingdon, PA · Member since 2018 · 162 posts · 147 votes
7y
Charlotte a good market for investment it seems.
3.7% population growth and a solid 2.7% employment growth.
I hear there is a new law passed recently which makes it easier for landlords in Charlotte to recover court costs from tenants if an eviction goes through the courts.
Specialist · Huntingdon, PA · Member since 2018 · 162 posts · 147 votes
7y
@Micah Dison Ha! good point. But all joking aside...check out this interesting infographic that shows a map of landlord friendly versus renter friendly states...
REI · Palo Cedro ca · Member since 2015 · 35 posts · 7 votes
7y
@Clarkston Hines hey Clarkston. I’m looking seriously at the Charlotte area. Or surroundings. I would like to start small multi family (mostly turn key for now) 200k+\- to get my feet wet. Then scale quickly from there if it all goes well. I need to hit the 1% rule. Anyways enough of that. I’m looking to connect with professionals in the area that can help me start and grow the business. Agent referrals and contractor referrals would be great. Any other info would be great as well. Thank you.
I will be flying down to Charlotte & visiting Raleigh on the weekend of June 29th-30th. If any of you are available that weekend and still want to meet up. Feel free to message me
Specialist · Charlotte, NC · Member since 2017 · 13 posts · 3 votes
7y
@John Cassel
Hey John, I’m just starting to get into investing and researching the market but I’ve been living in Charlotte for about 4 years now. I’d be very interested in meeting up.
Real Estate Coach · Charlotte, NC · Member since 2016 · 399 posts · 341 votes
7y
@John Cassel @Dontelle Wilkens I’m in Charlotte as well, I’ll be traveling next week for work but would be great to stay in touch/meet up at some point (as well as others in Charlotte...I’m on my phone and can’t remember enough people to tag them).
A while back a group of us in Charlotte area started a GroupMe to talk real estate...it’s been a little dead recently, but if anyone would like to be added just message me and I’d be happy to send the invite! Always great to talk to local like minded investors