Rental Property Investor · Greensboro / High point / Kernersville NC · Member since 2016 · 17 posts · 30 votes
7y
@Larry Pendleton
Larry, I have invested in High Point for 10 years.
The market around Greensboro High Point is a sellers market but a good rental market.
The Triad consist of Greensboro-High Point-Winston Salem market. The Triad population combined is around 1.6 mil and combined by several major interstates. The metropolitan areas is connected by Interstates 40, 85, 73, and 74 and is served by the Piedmont Triad International Airport.
I have focused on areas at major interstate intersections which allow families to work in multiple areas. The road systems in the Triad are great for travel between all three cities.
High point metro population is around 700,000. I mainly focus in zip code 27265.
There are major apartment construction projects in all areas of the Triad and i believe will eventually lead to higher vacancies in the future for A and B properties. I focus on SF rentals to lower my risk to over building.
I consider the Triad market very linear, minimal value appreciation but lower risk of large property value drops in weak markets. Through 2008, the values dropped much less than other areas of the country.
My properties have had nice appreciation over the last three years but much less than large metropolitan cities.
Rents have appreciated recently due to the low vacancy rates in the area.
We have many bidders and offers on all newly available properties because the supply is very low. It takes patience to find good deals.
I target rents of $1000 for my market. My max rent in high point is $1300.
I do not invest in properties below $900 but their are opportunities for lower rent in certain areas.
Hope that helps.
Rental Property Investor · Marblehead, MA · Member since 2016 · 22 posts · 13 votes
7y
@Clark Michael Hi Clark, If you are still wholesaling, I’m looking for 30+ unit multifamily apartments. If you come across anything interesting, please send them my way! I have financial backing and ready to buy