New investor from Arlington, Virginia.

Durham, NC · Member since 2019 · 12 posts · 0 votes

Welcome! I am in Durham and am saving up money for my first investment. If you need boots on the ground, I’m interested in going through the process and learning!

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Joseph Villalobos

Contractor · Huntsville, AL · Member since 2019 · 1 post · 0 votes

7y

I am thinking of starting up in durham because of family in Raleigh. What makes it an interesting market to you guys? I have not acquired any properties elsewhere yet. I live and rehab in Huntsville Alabama and am looking there as well. Have cash just not sure where to pull the trigger

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Ned CareyPro Member

Moderator

Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes

7y

@Shamit S. welcome to BP. Why are you interested in investing out of the area? When you invest out of your own area you increase your cost and risk. There are plenty of opportunities withing a 90 min drive of NOVA.

Regardless of where you choose to invest there are lots of people here willing to help.

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Mahmoud Y. Elhalawany

Real Estate Consultant · Raleigh-Durham NC · Member since 2019 · 128 posts · 34 votes

7y

Hey there Shamit, I am a local wholesaler in the Guilford County area, reach out to me on here if you need anything, happy investing!

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Gil A.

Rental Property Investor · Baltimore · Member since 2019 · 7 posts · 2 votes

7y

If you plan to use a Property Management company just avoid PropertyManagementPros.com Property Management Pros headed by Mark Fry. Read the reviews about them on BBB sites, Google and other sites.

They claim to have offices in Ohio, Virginia, Texas, Florida and other states. Just avoid them.

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Remington LymanBusiness Member

Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes

7y

@Gil A. I am not sure why anyone would use a national property management company. I feel that the smaller and more personal property management you can get the better.

[email protected]614-541-8475 Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals

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1 Reply

Jason ColemanPro Member

Real Estate Agent · Greensboro, NC · Member since 2017 · 200 posts · 161 votes

7y

Hey Shamit,

Happy hunting. All areas you mentioned are viable options for rental property. I am partial to the North Carolina market due to the positive cashflow and growth potential. The North Carolina population is growing rapidly with no signs of slowing. I invest primarily in Greensboro and Wilmington NC. I live in Greensboro. Let me know if I can be of assistance. Good luck.

336-601-6995

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Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @Tracey Callison:

Welcome! I am in Durham and am saving up money for my first investment. If you need boots on the ground, I’m interested in going through the process and learning!

Hi @Tracey Callison
Thank you, much appreciated. Will definitely let you know if I decide to look closer at Durham, NC. Also, let us know how your first investment goes.

Thanks again!

Cheers!

0 Reply

Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @Ned Carey:

@Shamit S. welcome to BP. Why are you interested in investing out of the area? When you invest out of your own area you increase your cost and risk. There are plenty of opportunities withing a 90 min drive of NOVA.

Regardless of where you choose to invest there are lots of people here willing to help.

Hi @Ned Carey, thank you for the welcome note, much appreciated.

Well, all I've done thus far are "armchair-analysis" (which may or may not be valid), but my impression is there may be better deals to be found out of state. Things that I've looked for are a) past 10-year population growth, 2) projected 10-year population growth, 3) general/median/average price level of 3/2 SFH units, 4) estimated rent (in comparison #3), 5) average age of structures (thinking that newer = less long term maintenance) 6) property taxes 7) job growth etc, all of which I've found to be more favorable in some southern states and towns.

Of course, finding properties within 90 min drive of NoVA would be great and preferable, likely I've not spend sufficient time looking in the area. If you could provide some pointers on where and what to look for or next steps to get closer to finding great investments I'd be very grateful, I'm very willing to learn. I read your posts whenever I encounter them here on BP and respect your opinions, thank you for your great contributions here.

Cheers!

1 Reply

Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @Joseph Villalobos:

I am thinking of starting up in durham because of family in Raleigh. What makes it an interesting market to you guys? I have not acquired any properties elsewhere yet. I live and rehab in Huntsville Alabama and am looking there as well. Have cash just not sure where to pull the trigger

Hi @Joseph Villalobos,

My impression is that Huntsville, AL is a very up and coming city with good job growth and its population on track to surpass Birmingham metro area population numbers in the next decade or so.

Cheers!

0 Reply

Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @Mahmoud Y. Elhalawany:

Hey there Shamit, I am a local wholesaler in the Guilford County area, reach out to me on here if you need anything, happy investing!

Hi @Mahmoud Y. Elhalawany

Thanks for your post and letting me know of what you do in Guilford County/Greensboro area, I shall definitely be touch if I decide to invest there, thanks again!

Cheers!

0 Reply

Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @Gil A.:

If you plan to use a Property Management company just avoid PropertyManagementPros.com Property Management Pros headed by Mark Fry. Read the reviews about them on BBB sites, Google and other sites.

They claim to have offices in Ohio, Virginia, Texas, Florida and other states. Just avoid them.

Hi Gil A.,

Thanks for the tip, I'll keep that in mind, thanks!

Cheers!

0 Reply

Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @Remington Lyman:

@Gil A. I am not sure why anyone would use a national property management company. I feel that the smaller and more personal property management you can get the better.

Hi @Remington Lyman,

Thanks for chiming in. Could you please elaborate on pros/cons using a national property management company versus the smaller/local ones? The national ones are organised as franchises, yes?

Cheers!

0 Reply

Remington LymanBusiness Member

Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes

7y

@Shamit S. It may be location specific but in Columbus, OH all the good PM companies are locally owned. Then if you have an agent that also does PM you are in an even better position. If your buying agent manages the property, they will put the extra effort into it. They know that when it comes time to sell, they will get a piece of that sale price.

I want to appreciate my client's assets as much as so when we go to sell my commission check is even larger. Plus, we can get into something bigger. If you go with a large chain, they do not have the same incentives. Down the road, I will look to get equity positions with my clients. They are not going to agree to that unless I have earned it with the work, I have already done with their current properties.

This is just my opinion and not legal advice.

[email protected]614-541-8475 Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals

Reafco512 Reviews

Website View Page

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Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @Jason Coleman:

Hey Shamit,

Happy hunting. All areas you mentioned are viable options for rental property. I am partial to the North Carolina market due to the positive cashflow and growth potential. The North Carolina population is growing rapidly with no signs of slowing. I invest primarily in Greensboro and Wilmington NC. I live in Greensboro. Let me know if I can be of assistance. Good luck.

Hi @Jason Coleman,

Thank you for your kind reply and me know of your activities in NC. I was looking into Wilmington NC a while back but got the impression that tourism is an important part of the local economy. Was unsure how the market there may be affected if the economy slows down and people start cutting back on discretionary spending. Any thoughts? Leland and Odgen appeared to be attractive areas, yes?

Cheers!

0 Reply

Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @Remington Lyman:

@Shamit S. It may be location specific but in Columbus, OH all the good PM companies are locally owned. Then if you have an agent that also does PM you are in an even better position. If your buying agent manages the property, they will put the extra effort into it. They know that when it comes time to sell, they will get a piece of that sale price.

I want to appreciate my client's assets as much as so when we go to sell my commission check is even larger. Plus, we can get into something bigger. If you go with a large chain, they do not have the same incentives. Down the road, I will look to get equity positions with my clients. They are not going to agree to that unless I have earned it with the work, I have already done with their current properties.

This is just my opinion and not legal advice.

@Remington Lyman, thank you for sharing your thoughts, that makes sense, much appreciated.

Cheers!

0 Reply

Douglas Vogel

Rental Property Investor · WA · Member since 2015 · 104 posts · 31 votes

7y

@Jason Coleman I like the cashflow and growth potential. How is the price per unit in the MF space?

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Douglas Vogel

Rental Property Investor · WA · Member since 2015 · 104 posts · 31 votes

7y

@Shamit S. Yes but the market is getting very competitive with low inventory.

0 Reply

Jonathan Taylor SmithBusiness Member

Rental Property Investor · Durham / Raleigh (Triangle), NC · Member since 2015 · 841 posts · 802 votes

7y

@Shamit S. @Tracey Callison - I've had great success in Durham, NC - with single-family and small multi-family properties. Durham is also where I live, so I've not yet attempted to invest outside of this market. When I do, it will likely be in one of the smaller cities around the Tampa Bay area of Florida, as I lived in several cities there before moving to NC.

Blue Chariot Realty & Management4.915 Reviews

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Jason ColemanPro Member

Real Estate Agent · Greensboro, NC · Member since 2017 · 200 posts · 161 votes

7y

@Shamit S. I wouldn't worry about the tourist economy in Wilmington. You can see the housing prices didn't fall significantly like in the last crash. Wilmington is essentially the southern beach capital of NC. Plenty of regular employees, retirees, professionals moving into that area every day. The numbers don't lie when it comes to population growth. I recommend the short term rental space in Wilmington especially if the numbers work for a long term rental when the economy slows. That's a pretty safe area to invest. Ogden and Leland are great places. Leland is more up and coming. You can purchase new construction in Leland and get the 1% rule out of it! I know people who have. I invest more in Ogden, Murraysville, and Castle Hayne areas. They are more blue collar but they are steady. I'm not as invested in the short term rental space currently though. Let me know if you need an investor/agent in Wilmington. I only use agents like myself who are investors for obvious reasons.

@Douglas Vogel depends entirely on the area. In the Triad MF space there are opportunities anywhere from 20k-80k per unit. And Yes, I agree the Wilmington market is more competitive than Greensboro currently. I am able to find 1% fairly consistently here in Greensboro on the MLS. Wilmington is tough to get the 1% but the housing market has appreciated faster overall. Again, I don't invest for appreciation but it's a great bonus. There is only so much coast haha.

336-601-6995

1 Reply

Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @Jonathan Taylor Smith:

@Shamit S. @Tracey Callison - I've had great success in Durham, NC - with single-family and small multi-family properties. Durham is also where I live, so I've not yet attempted to invest outside of this market. When I do, it will likely be in one of the smaller cities around the Tampa Bay area of Florida, as I lived in several cities there before moving to NC.

Great to hear and read about your success in Durham, NC @Jonathan Taylor Smith, thank you for sharing.

Cheers!

0 Reply

Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @Jason Coleman:

@Shamit S. I wouldn't worry about the tourist economy in Wilmington. You can see the housing prices didn't fall significantly like in the last crash. Wilmington is essentially the southern beach capital of NC. Plenty of regular employees, retirees, professionals moving into that area every day. The numbers don't lie when it comes to population growth. I recommend the short term rental space in Wilmington especially if the numbers work for a long term rental when the economy slows. That's a pretty safe area to invest. Ogden and Leland are great places. Leland is more up and coming. You can purchase new construction in Leland and get the 1% rule out of it! I know people who have. I invest more in Ogden, Murraysville, and Castle Hayne areas. They are more blue collar but they are steady. I'm not as invested in the short term rental space currently though. Let me know if you need an investor/agent in Wilmington. I only use agents like myself who are investors for obvious reasons.

@Douglas Vogel depends entirely on the area. In the Triad MF space there are opportunities anywhere from 20k-80k per unit. And Yes, I agree the Wilmington market is more competitive than Greensboro currently. I am able to find 1% fairly consistently here in Greensboro on the MLS. Wilmington is tough to get the 1% but the housing market has appreciated faster overall. Again, I don't invest for appreciation but it's a great bonus. There is only so much coast haha.

Thank you @Jason Coleman, I'll reach out to you shortly regarding Greensboro and Wilmington.

Cheers!

0 Reply

James Wise

Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes

7y

Originally posted by @Shamit S.:

My name is Shamit, live in Arlington, Virginia, and I've been lurking around the forums for past couple of years, listening to podcasts, reading books, attending local REIA meeting, and now finally getting my stars aligned to take my first plunge into real estate investing.

First of all, a great thank you to @Joshua Dorkin and @Brandon Turner for creating this great site and to all BP contributors for sharing your thoughts and opinions. A shout out to @David Greene and @J Scott whose books 'Long-Distance Real Estate Investing', 'Buy, Rehab, Rent, Refinance, Repeat' and 'The Book on Estimating Rehab Cost' are the best real estate books I've read thus far.

My goal is to acquire enough properties to generate a stable income, sufficient to support myself and my family in about 10 years or so. For now, I have a stable job in the IT industry outside DC which I enjoy and is keeping me busy, so I'm not in need of immediate supplementary income. Primary focus is single family or small multifamily units for long term buy/hold and wealth accumulation.

I studied business and economics in college, so I have love for numbers, but can sometimes lead to over-analysis, indecision and analysis-paralysis. I'm trying to break free from the latter and got a good boost in motivation by attending Rod Khleif's boot-camp in Baltimore last weekend. Although large multifamily is out of my scope, as the boot-camp was held only an hour away from my place, I just could not pass on the opportunity to attend.

I'll likely be looking out of state for investment opportunities, at this preliminary stage I'm looking into North Carolina (Greensboro, Durham), South Carolina (Greenville, Spartanburg) and Alabama (Huntsville, Birmingham).

Hope to connect with fellow investors, both nearby where I live and in the areas where decide to invest.

Cheers!

Welcome aboard Shamit.

0 Reply

Shamit S.

OP

Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes

7y

Originally posted by @James Wise:

Originally posted by @Shamit S.:

My name is Shamit, live in Arlington, Virginia, and I've been lurking around the forums for past couple of years, listening to podcasts, reading books, attending local REIA meeting, and now finally getting my stars aligned to take my first plunge into real estate investing.

First of all, a great thank you to @Joshua Dorkin and @Brandon Turner for creating this great site and to all BP contributors for sharing your thoughts and opinions. A shout out to @David Greene and @J Scott whose books 'Long-Distance Real Estate Investing', 'Buy, Rehab, Rent, Refinance, Repeat' and 'The Book on Estimating Rehab Cost' are the best real estate books I've read thus far.

My goal is to acquire enough properties to generate a stable income, sufficient to support myself and my family in about 10 years or so. For now, I have a stable job in the IT industry outside DC which I enjoy and is keeping me busy, so I'm not in need of immediate supplementary income. Primary focus is single family or small multifamily units for long term buy/hold and wealth accumulation.

I studied business and economics in college, so I have love for numbers, but can sometimes lead to over-analysis, indecision and analysis-paralysis. I'm trying to break free from the latter and got a good boost in motivation by attending Rod Khleif's boot-camp in Baltimore last weekend. Although large multifamily is out of my scope, as the boot-camp was held only an hour away from my place, I just could not pass on the opportunity to attend.

I'll likely be looking out of state for investment opportunities, at this preliminary stage I'm looking into North Carolina (Greensboro, Durham), South Carolina (Greenville, Spartanburg) and Alabama (Huntsville, Birmingham).

Hope to connect with fellow investors, both nearby where I live and in the areas where decide to invest.

Cheers!

Welcome aboard Shamit.

Hey @James Wise, thank you your note. Also thank you for your contributions here on BP, in particular the nice blog post about grading Birmingham, Alabama zip codes and neighborhoods, that was kind of you to write and share with us all.

Cheers!

1 Reply

James Wise

Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes

7y

Originally posted by @Shamit S.:

Originally posted by @James Wise:

Originally posted by @Shamit S.:

My name is Shamit, live in Arlington, Virginia, and I've been lurking around the forums for past couple of years, listening to podcasts, reading books, attending local REIA meeting, and now finally getting my stars aligned to take my first plunge into real estate investing.

First of all, a great thank you to @Joshua Dorkin and @Brandon Turner for creating this great site and to all BP contributors for sharing your thoughts and opinions. A shout out to @David Greene and @J Scott whose books 'Long-Distance Real Estate Investing', 'Buy, Rehab, Rent, Refinance, Repeat' and 'The Book on Estimating Rehab Cost' are the best real estate books I've read thus far.

My goal is to acquire enough properties to generate a stable income, sufficient to support myself and my family in about 10 years or so. For now, I have a stable job in the IT industry outside DC which I enjoy and is keeping me busy, so I'm not in need of immediate supplementary income. Primary focus is single family or small multifamily units for long term buy/hold and wealth accumulation.

I studied business and economics in college, so I have love for numbers, but can sometimes lead to over-analysis, indecision and analysis-paralysis. I'm trying to break free from the latter and got a good boost in motivation by attending Rod Khleif's boot-camp in Baltimore last weekend. Although large multifamily is out of my scope, as the boot-camp was held only an hour away from my place, I just could not pass on the opportunity to attend.

I'll likely be looking out of state for investment opportunities, at this preliminary stage I'm looking into North Carolina (Greensboro, Durham), South Carolina (Greenville, Spartanburg) and Alabama (Huntsville, Birmingham).

Hope to connect with fellow investors, both nearby where I live and in the areas where decide to invest.

Cheers!

Welcome aboard Shamit.

Hey @James Wise, thank you your note. Also thank you for your contributions here on BP, in particular the nice blog post about grading Birmingham, Alabama zip codes and neighborhoods, that was kind of you to write and share with us all.

Cheers!

No problem. I've also made one for Cleveland and am working on one for Memphis and Indianapolis.

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New investor from Arlington, Virginia.

New investor from Arlington, Virginia.

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