Rental Property Investor · NC, IL · Member since 2018 · 86 posts · 47 votes
Hello BPers. I wanted to start a new topic for Fayetteville, NC. I was hoping to make some connections with some other investors who were interested in, or familiar with Fayetteville, NC. I am looking for my next deal and one of the areas I was considering looking into was the North Point area. This is generally the area which is bordered to the north by 295, the east by Ramsey St, to the west by 210, and BUS 401 to the south. 210 and Ramsey sort of form a “V” shape to the south and Country Club Dr. cuts through the middle (W to E).
I have recently found several homes in this area which meet my criteria but they move quickly and I have not been able to get one of them as of yet. Have any of you looked into this area? What are your thoughts? Experiences?
Do any of you have any other areas you are interested in, or actively buying in?
Finally if there is anything else Fayetteville related you guys would like to add to this please feel free.
Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
8y
I only invest in Fayetteville. Buy and Hold
great area, I have a few in your highlighted area, and a few outside that.
As you said, homes in Fayetteville go quickly, they are cheap and lots of competition. Unfortunately this has ramped up over the last few years and deals are definitely getting tighter, still lots of room for profit, but you gotta move diligently when you find something good.
Rental Property Investor · Surprise, AZ · Member since 2015 · 20 posts · 14 votes
7y
@Alexander Felice I heard you on the BP Podcast and you were so inspirational! Thank you for sharing your knowledge and passion!
I'm in Phoenix but the market here has risen in pricing and is so competitive that I've been priced out of buy and holds here. I had a few other colleagues that had mentioned Fayetteville but your podcast was what convinced me to make this my first long distance market.
Would you mind sharing your property manager and contractor sources? I've recently purchased a home similar to what you say you prefer. Here's a pic:
@Alexander Felice I heard you on the BP Podcast and you were so inspirational! Thank you for sharing your knowledge and passion!
I'm in Phoenix but the market here has risen in pricing and is so competitive that I've been priced out of buy and holds here. I had a few other colleagues that had mentioned Fayetteville but your podcast was what convinced me to make this my first long distance market.
Would you mind sharing your property manager and contractor sources? I've recently purchased a home similar to what you say you prefer. Here's a pic:
Rental Property Investor · Surprise, AZ · Member since 2015 · 20 posts · 14 votes
7y
@Alexander Felice To be honest, I'm not quite sure what you're looking for. I am not a newbie asking for a mentor. I'm not looking for someone to hold my hand or do my research for me. I'm just a fellow investor looking for a referral.
I would be happy to share my knowledge of the Phoenix market or any of my local contacts if those are of interest to you. I know Realtors, property managers, wholesalers, architects, contractors, laborers, attorneys, designers, suppliers, lenders, cash buyers, etc. They have helped me and provided excellent service as I've invested here in Phoenix and I would be honored to refer them and help them grow their business.
If you are uncomfortable sharing referrals, that is understandable. No worries.
I'm looking for buy/hold multi family or well performing SFR in Fayetteville. I've done a couple market tours (currently living in Raleigh) and have a general sense for the area, but don't have in depth knowledge of the areas to go to vs stay away from. Anyone have a marked up map I could reference that they'd share?
I am looking to expand and be aggressive with my BRRRR investing the remainder of this year. I am looking for partners and rock-stars to develop a team.
Plain and simple. Fayetteville NC is a good rental market. Fayetteville NC is home to Fort Bragg. The largest populated military post in the US. I am a retired from the Army. I have spent the majority of my career stationed at Bragg. I am currently a NC Certified Residential Appraiser . I can discuss analysis and data.
Here are facts:
The data is based off public data search of Cumberland, Harnett, Hoke and Moore counties. This represents the broad market areas that are most impacted by proximity to Fort Bragg.
1. 15% to 20% of the population move every year! In and out.
2. Soldiers that qualify to live off post. Are paid a housing allowance. Above and beyond their base and incentive pay. This is both a positive and a negative. I've experienced this as a negative, causing rents to stagnate. During periods that military members are not given raises in housing allowance.
3. 2015 total dollars brought into the economic base by, military spending, salaries, retirement and pensions; equals approximately $980 million.
4. Most military members that are assigned to Fort Bragg expect to be stationed here for 2 years possibly 3 years. Causing aversion to home ownership. And a large pool of potential renters.
5. 2018 there were $889,152,285 of Single family sales in 2018 representing 7275 transactions.
6. 2018 there were $79,022,721 sales of single family foreclosure type properties. representing 793 transactions. representing 9.85% of the total real estate market.
7. The average sales of foreclosed single family property in the market area is equal to $99,650.32
8. There were 2547 properties leased in 2018. from public data. Unknown how many additional were rented, leased, subleased in the year. As this data is not readily available.
9. Average leased square footage is 1140. and the average rent is $850. Average DOM 16 days.
Buy and hold methods, I would think, can work well in this market. But, again... its all about what you buy the property for. How much the rehab cost are (i.e. the condition of the property when you bought it.)
I am looking forward to comments and connecting with members. I hope that this helped some of you considering the Fayetteville market.
Rental Property Investor · Fayetteville, NC · Member since 2018 · 41 posts · 26 votes
7y
@David Hargitt If you are local to Fayetteville or have the ability to sit down and talk, then I would love to go over what I do and how I think I would be able to help you. I am a buyer's agent with Five Pillars Realty Team, and I work almost entirely with investors. I have a whole "Team" outside of that consisting of property managers, lenders, contractors, and other needed professionals that have worked well for me and my clients in this area.