My family and I moved down to Raleigh from the DMV area about 4 years ago. Now that we've gotten settled, I'm looking to better understand the REI opportunities in and around Raleigh (1.5 - 2hrs around downtown Raleigh). I'm new to REI and Bigger Pockets. I'm interested in buy and hold of small multi-family (2-4 units) cash-flow rentals. In my wild brain, I'd like to also understand land development.
In any case - "Hi! And nice to meet you all! I look forward to engaging with you all along this journey".
Rental Property Investor · Raleigh, NC · Member since 2020 · 66 posts · 89 votes
5y
@Ralph Plaskett
Glad to help. The Triad refers to Greensboro-Winston Salem-High Point, which is a less hot market at the moment, much weaker (but still okay) in terms of employment and demographic trends.
As for Class A, B, and C areas, you will have to talk to a good real estate agent. I might catch some flack for this, but I think a good screening question is “what part of East Durham would you invest in” (or Southeast Raleigh if you prefer that market). A great agent will know the parts of those areas that are turning quickly. I like East Durham because it used to be a Class F area (think bad part of Detroit), so an experienced agent who doesn’t know the area well anymore still tell you to run away, but there are now some really nice B/C streets. Just my 2 cents.
Real Estate Broker · Raleigh, NC · Member since 2018 · 19 posts · 9 votes
5y
Hello Ralph! Welcome to the community. Getting started in REI is very exciting. You picked a very HOT market to start in! As i'm sure you know Raleigh has been in the spotlight for sometime as the population has continually grown and large companies are moving into the area. I would love to help you out and offer the knowledge I have as you look to make your first steps. Feel free to reach out anytime!
Hello Ralph! Welcome to the community. Getting started in REI is very exciting. You picked a very HOT market to start in! As i'm sure you know Raleigh has been in the spotlight for sometime as the population has continually grown and large companies are moving into the area. I would love to help you out and offer the knowledge I have as you look to make your first steps. Feel free to reach out anytime!
Thanks Grant! Much appreciated. Yes, the market is HOT and the area is growing. Much of the reason we decided to move. That was a personal decision, now looking at the business opportunity. I will certainly reach out as I begin to pick up steam. Thanks again Grant! @Grant Leonard
Rental Property Investor · Raleigh, NC · Member since 2020 · 66 posts · 89 votes
5y
@Ralph Plaskett
Welcome to the Triangle! As Grant said, this is a scorching hot market. If you want cash flow in the Triangle, my opinion is you have 3 choices:
1. Small multi in a Class C area
2. Student rentals ( there are 3 duplexes near UNC that look like they’d work on the market)
3. Off-market
Big homebuyers like AH4R will eat up everything else. If you’re willing to leave the triangle, the Triad has some cash-flow deals on the market. I’d get with a knowledgeable agent if you are going there, as there are some really rough neighborhoods. Hope this helps!
Welcome to the Triangle! As Grant said, this is a scorching hot market. If you want cash flow in the Triangle, my opinion is you have 3 choices:
1. Small multi in a Class C area
2. Student rentals ( there are 3 duplexes near UNC that look like they’d work on the market)
3. Off-market
Big homebuyers like AH4R will eat up everything else. If you’re willing to leave the triangle, the Triad has some cash-flow deals on the market. I’d get with a knowledgeable agent if you are going there, as there are some really rough neighborhoods. Hope this helps!
1. Is there a way to see Class A,B,C areas on a map? 2. Student rentals are of great interest to me with the number of Universities/Colleges in the area. 3. Triad? This term is new to me. What's considered the Triad? I'd like closer to home but I'm open to as far south as Pinehurst and west as Greensboro.
I'm still narrowing down my strategy...such is why I'm on an information hunt to better understand what's out there.
Rental Property Investor · Raleigh, NC · Member since 2020 · 66 posts · 89 votes
5y
@Ralph Plaskett
Glad to help. The Triad refers to Greensboro-Winston Salem-High Point, which is a less hot market at the moment, much weaker (but still okay) in terms of employment and demographic trends.
As for Class A, B, and C areas, you will have to talk to a good real estate agent. I might catch some flack for this, but I think a good screening question is “what part of East Durham would you invest in” (or Southeast Raleigh if you prefer that market). A great agent will know the parts of those areas that are turning quickly. I like East Durham because it used to be a Class F area (think bad part of Detroit), so an experienced agent who doesn’t know the area well anymore still tell you to run away, but there are now some really nice B/C streets. Just my 2 cents.
Glad to help. The Triad refers to Greensboro-Winston Salem-High Point, which is a less hot market at the moment, much weaker (but still okay) in terms of employment and demographic trends.
As for Class A, B, and C areas, you will have to talk to a good real estate agent. I might catch some flack for this, but I think a good screening question is “what part of East Durham would you invest in” (or Southeast Raleigh if you prefer that market). A great agent will know the parts of those areas that are turning quickly. I like East Durham because it used to be a Class F area (think bad part of Detroit), so an experienced agent who doesn’t know the area well anymore still tell you to run away, but there are now some really nice B/C streets. Just my 2 cents.