Investor · VA, TX · Member since 2021 · 37 posts · 9 votes
Hello there,
I'm currently looking into investing in the Durham and Raleigh area. I'm from the Northern Virginia so clearly I do not know anything about these areas (hence why I think they are very potentials). Could I be please be connected with the local realtors and people who are familiar with the areas? I've realized this might be a big ask so any inputs will be greatly appreciated!
Property Manager · Wake Forest, NC · Member since 2015 · 84 posts · 56 votes
5y
@Joe Nguyen
I think you’re looking in a great location that has strong long term application potential. I’m an investor and work with investors who are looking to get into the market. The specific location fir you to look within the greater triangle market will depend on your strategy and the returns you are hoping for. If your looking for manly cash flow you’ll need to look at some of the surrounding markets or heavily distressed properties to find ones that will meet those criteria. If you’d like to have a conversation PM me and you can tell me more about your goals.
I can tell you this much, you’ve already identified a fantastic market which is a great step in the right direction. 
I am by no means the expert on the area, but happy to give you my opinions:
Raleigh - iBuyers like OpenDoor and Zillow are eating up 6% of the inventory (highest in the nation). It is extremely hard to find a deal that works on the market, perhaps even impossible without a creative strategy. My personal opinion is to stay away.
Downtown/West Durham - Largely established areas at this point. Plenty of high-wage jobs to support the huge spike in home prices here, but much like Raleigh, it will be quite hard to find a deal without negative cashflow on the market.
East Durham - East Durham is where I am currently looking to invest. Once a gang-riddled warzone, East Durham is one of the fastest-gentrifying neighborhoods in the entire US. New high-wage jobs from Google, Apple, and Eli Lily will continue to expand the wave of appreciation in Durham, which will hit all of East Durham at some point. To steal Paul Morris's example from the podcast episode 274, there are people walking around with cellos now.
Chapel Hill - Student rentals will likely work in Chapel Hill, I've seen some stuff on the market that would cashflow. Great public schools and constant student demand make Chapel hill more recession-resistant than many markets, but this also comes with huge demand from homebuyers. A traditional rental is unlikely to cashflow. Path of progress here is west out highway 54 towards Pittsboro, and that area is less established, so perhaps something could work there.
Cary - Huge new development going on downtown, but otherwise the market dynamics are extremely similar to most of ChapelHill, but without the university.
I'm not an expert on the Raleigh suburbs like Holly Springs or Wake Forest, so I will let other people chime in there. Hope this helps.
Property Manager · Wake Forest, NC · Member since 2015 · 84 posts · 56 votes
5y
@Joe Nguyen
I think you’re looking in a great location that has strong long term application potential. I’m an investor and work with investors who are looking to get into the market. The specific location fir you to look within the greater triangle market will depend on your strategy and the returns you are hoping for. If your looking for manly cash flow you’ll need to look at some of the surrounding markets or heavily distressed properties to find ones that will meet those criteria. If you’d like to have a conversation PM me and you can tell me more about your goals.
I can tell you this much, you’ve already identified a fantastic market which is a great step in the right direction. 
Investor · VA, TX · Member since 2021 · 37 posts · 9 votes
5y
@Danny Kaminsky - extremely thankful for your quick analysis here. I'm absolutely brand new to the Durham and Raleigh market (only been there once). What are your thoughts on types of properties in East Durham area? I'm mostly interested in SFH. I like the idea of stable income rental for the students near the university area, however I'm also a bit unsure about the longevity of your properties given that the tenants could be more on the younger side.
Investor · VA, TX · Member since 2021 · 37 posts · 9 votes
5y
@Phillip Bradrick - thank you for a quick and concise response. I'm sure there's more to chat as I'm here to learn about the market and would love to hear from someone with experience in the area. I'll definitely reach out to you on DM.
You can certainly find good SFH deals in East Durham. There are basically 2 types of houses there: "Built 30+ years ago" and "Rehabbed or built in the last 5 years". If you can take type 1 and turn it into type 2, you will find a great investment.
Investor · San Jose, CA · Member since 2021 · 78 posts · 35 votes
5y
@Phillip Bradrick - Good to know that you are investor and work with investors who are looking to get into the market.I am in the same boat as Joe, would love to connect with you
Durham, NC · Member since 2021 · 10 posts · 9 votes
5y
I recommend checking out Alcove if you're interested in long-term tenants. We help relocated young professionals to the area (average age is 32) and they use our platform to find roommates and private rooms in SFH all across the Triangle area.