Winston-Salem, NC. How is it?

[Wendell Butler]

Hello Everyone!

I have been looking over some deals in Winston-Salem, NC. Was wondering if anyone has any insight on this market. How is it growth wise? Is it more C, B or A location? What is the average price per unit in this area? Average rent?

I have researched online a bit, but can't really narrow much down, the rents are all over the place. Wondering if anyone can help me a bit.

Appreciate it!

[Evan Kline]

@Wendell Butler. I'm very bullish on Winston. I own 5 properties, 6 units (1 property is a duplex). Winston has very strong neighborhood divisions, that might be why rents are seeming all over the place. We buy primarily in B+, A- neighborhoods. Long term rents there go from 1500 to 2200 for a typical 3/2 depending on how nice it is. 

We actually have been converting our units over to mid-term rentals. Winston has a very strong medical community - about 1 out of every 3 jobs here is a medical professional job. 2 major hospitals here, one private, one a teaching hospital for Wake Forest. Traveling nurses/other medical professions are a big thing here. We have 5 universities also, and traveling/visiting professors is a common thing also.

We have a 1/1 mid-term unit that rents for $2200 per month and a 4/2 mid-term that rents for $3200 per month. Nearly 100% occupied (we intentionally keep a couple days between stays, cleaning takes a bit longer between turnovers on a mid-term we found, otherwise we would actually be booked 100% of the time). 

I'm also an real estate agent in the area if you'd like to chat. Just ping me!