Investor · Arlington, VA · Member since 2017 · 37 posts · 9 votes
Hi all,
Looking to connect with Wake Forest investors and learning more about the area. Wake Forest seems to have the price point/housing age/size/availability of units etc I'm looking for, the expected rent in the area appears reasonable also. For those investing in Wake Forest how is the 5-10 year outlook in terms of growth, expected rent/home price increase etc?
The agent I'm working with (who himself is an investor in area) is recommending Garner, Holly Springs and Fuquay-Varina areas over Wake Forest based on growth that may come with the 540 extension/completion, but I don't see that many units available in $175-200k range in Garner, Holly Springs and Fuquay-Varina. What are your thoughts and outlook for the areas mentioned?
Have yet to visit the area, hoping to visit Raleigh area some time around March.
New to Real Estate · Raleigh · Member since 2020 · 8 posts · 16 votes
6y
IMO wake forest is still growing and has potential. Wegmans has broken ground and the area has really developed in the last 3-5 years. The Garner and surrounding area has more potential in my opinion. The 540 extension and the amazon warehouse moving into the area will really help push it along. I'm not super familiar with the garner area but there are probably less options for multi family in the area since it was mostly rural before. There seems to be a lot of new construction in that direction. This is just my opinion having grown up in Raleigh.
Property Manager · Wake Forest, NC · Member since 2015 · 84 posts · 56 votes
6y
@Shamit S. Great question. All the areas you mentioned are good rental areas. It will likely be easier to find an investment property on the south side of town because home prices are not as high. It is a more rural market and has more starter homes that would work well for rentals. Wake Forest has seen the majority of its growth in recent years from higher end custom homes in the 500k + range. Their are pockets of smaller homes and they are usually older stock that is 80s or older. I manage investment properties across the whole market and have rentals of my own in the Wake Forest / Youngsville areas. They are great rentals and attract good quality tenants. If you find a good deal in any of the town you mentioned, it should rent well if it’s not in a rough block/area. If you ever need help determining rental values feel free to pm me. Take care!
Developer · DC & NC · Member since 2019 · 113 posts · 95 votes
6y
Remember that the principal job centers are RTP, then Raleigh (downtown, NCSU, along 440 north). Hence the relatively lower prices south and east of Raleigh, which is a long way from RTP.