Anyone Invest In Raleigh, NC?

Question

Does anyone currently invest in Raleigh, NC? How is the market there, and would you recommend beginning investors to invest there? Why or why not?

Adam Schneider · Answer

@Hunter Johnston When asked about a popular restaurant in NYC, Yogi Berra once quipped, "Nobody eats there anymore--it's too crowded."

Christopher K. · Answer

I like @Adam Schneider, @Chris Martin, and @BJ Henderson 's remarks.

The bottom line is that your question is too broad to answer, as there are way too many unstated variables.

But if I were to make some assumptions about your question, my own couple of pennies is that if you're smart, driven and persistent (and probably a few other choice adjectives), a beginning investor has a chance of making it work in the Raleigh market. But it's almost certainly going to be very, very ... not easy.

My experience is that most of the real deals get picked up by the local, established guys due to home-turf advantage and other related laws and tenets of business. However, there are exceptions to every rule and if you want to be one of them badly enough and apply yourself - you stand a chance. I do think there are definitely other markets that would be more conducive to a new investor being successful in.

Long story long, it's a hyper-sellers market with lots and lots of competition. I see "investors" overpay almost every day around here. I also see good investors picking up enough deals regularly to make a very good living on. And once in a while, I will see someone inexperienced beat everyone else to an acorn.

Dawn Brenengen · Answer

@Hunter Johnston It depends on your goals. If you want to build a portfolio of 30 units cash flowing $500/month so you can quit your job early, probably not. If you want to diversify your investment portfolio to include real estate that should grow in value by the time you retire, then sure, it's probably a great area for that.

Chris Martin · Answer

Same answer as "does anyone invest in California?" The market here is as diverse as CA. Big cities are expensive and cash flow is challenging, in general, and small rural places have other challenges like tenant quality and lack of experienced management.

I think you will get more traction with direct and specific questions rather than generalities.

Gabe C. · Answer

It's getting much harder to find deals, but that's where we are in the cycle. It ebbs and flows. Last year I found more deals than I knew what to do with. This year is a trickle, and those get snatched up quick. Overall, Raleigh is great. And deals are still there. I just closed on a place today that will cash flow $300- $400/mo, and I just pulled it off the MLS. There were 17 other offers, many that were higher than mine, but I employed some tricks that I learned after losing out on a few other offers in this dogpile market and it finally came together.

I've been looking for this last one since January though, so it takes patience... or more aggressive marketing that I chose not to do.

Matt Taylor · Answer

@Dawn Brenengen Could you PM me sometime as well please? I'm not a professional investor looking to get rich off the Raleigh market. My wife and I are just interested in diversifying some of our personal investments. We have a good relationship with a local contractor here so we're open to properties that may need some TLC. I think BiggerPockets calls it the BRRRR method. Thanks!

BJ Henderson · Answer

I'd recommend you invest anywhere you've done your research on. You'll never know until you know.

Is Raleigh a place for beginning investors to invest?

Yes, if you want it to be.

You've got to figure out what your goals are and then put the action and effort behind it.

Best wishes to you!

Dawn Brenengen · Answer

Account Closed Yes, I work with investors, but I'm usually more in the city and less in the rural areas where you would usually find that kind of property.  However, do you want to talk a little more?

Account Closed · Answer

@Dawn Brenengen, Sure! Just pm me.

Account Closed · Answer

I'm beginning to build my team in NC. @Dawn Brenengen, do you work with investors? I'm seeking to purchase manufactured homes with land that are for sale at below market value. Does anyone have any good brokers/wholesalers they'd suggest I connect with?

Anyone Invest In Raleigh, NC?

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