All Forum Posts by: Benjamin Carver

haha never said it would cash flow. Said you could get 2,000+ on them. Breakeven at best IMO unless you want to fork over a lot of cash or happen to be the lucky guy who finds an assumable that makes sense. But.... Brier Summit Pl in Durham would probably get pretty darn close to breakeven and is easy to house hack for example. Almost went with one of these before going under contract on my detached sfh in North Raleigh.

Quote from @Chris Carrigan:

The inventory is too low for a market correction here in the Raleigh area.  A lot of people sitting out of the market right now waiting for rates to drop.  If they drop below 5, prices will jump again as we’ll be back to multiple offer situations on most sales.  Wake County is still growing also which puts additional pressure on inventory. I’d say your safe here for the foreseeable future assuming you can get a property for a price that allows you to cash flow any amount. 

 Our inventory is the same right now as it was beginning of 2020! 

I'd wage that Wake Forest, Knightdale, Garner, those outskirt towns are going to see some very attractive appreciation over the next few years.

Quote from @Tuong Nguyen:

with a $300k budget, can one expect to get a 3-bed, 1.5-2 bath house/townhouse at about $2k rent per month? I am kind of leaning towards Cary area and surrounding but I saw some listings in south Durham with good schools at that price range. Any thoughts?

Absolutely. I walk a lot of townhomes in this area. In Cary, that's a long shot. But in Raleigh, and some parts of Durham, wake forest too, I'd say you can find a great townhome that's a 3/1.5 or 3/2 for $300k. Rents should be right around $2k. Now, If you want a 2500sq ft 3 story one, the biggest they make, those run roughly $350-$375k and get rents somewhere closer to $2.5k. Feel free to PM me if you want more insight.

Ryan Thompson is the man if you're wanting a springs house hack!

I'm under contract on a split level in Raleigh, NC and we are going live-in-flip the whole thing and add a kitchenette to the lower half. This post is super helpful and thorough.

If you can't tell from these comments, house hacking is the way to go. You already live there so it's not much different from just taking care of your normal home. If you do LTR in the other rooms then you shouldn't have a lot of turnover issues like you would with airbnb. If you want to NOT cashflow and have no huge worries then overpay for a PM and snag a typical LTR. But house hacking just makes more sense for a first step.

Fantastic post man! First year is TOUGH. Especially in this market. But when a lot of agents give half the effort and flake out, those who keep their eyes on long-term goals, sacrifice and forget the income part in the short-term, and do the daily stuff that is proven to work - those are the agents who will take us into the next decade of real estate. Let's be those agents! 

What's your top sources for lead gen? I cold-call realty leads and website traffic, we partner with zillow flex for hot leads, and I'm building up a social media right now.

That's what happens when big companies and massive relocation happens. Raleigh is booming. Great appreciation play I'd suspect but home prices shot up. House hacking was my golden ticket into an expensive market. Under contract on a live-in flip house hack in one of the best parts of raleigh. Would love to share more and answer any questions you have. Shoot me a PM anytime

What's up man! I'm in Raleigh too. Under contract on my first house hack myself - an 84 split level I'll treat like a duplex and airbnb the upstairs 2 rooms. What's your rent strategy? Love to connect.

Quote from @Doug Spence:

@Benjamin Carver Have you seen any VA loan assumptions in which the buyer gets seller financing from the seller for the difference between the loan balance and purchase price? Could be a creative way to bridge that gap.

I haven't seen it very often. But for the sellers who aren't just throwing out "assumable" as a marketing tactic, they might be willing to work with the buyer to do something like this. So long as the bank and VA don't have any specific regulations against it. Could open up more assumable opportunities with too wide a spread for just cash.