All Forum Posts by: Account Closed

Hello Everyone, 

I am getting close to putting a 2Bd, 1 Ba, single family home up for rent in Knightdale, what platforms (Rent.com,facebook,craigslist) do you use and find the most success with in the area? 

Thanks in advance,

Bryan

Hey Everybody,

I had posted before we had closed on this deal but now that its done ill do another post for anyone interested. We ended up getting a 900 sqft 2BD, 1BA in Knightdale for 110k. It was our first for sale by owner but also our first major renovation. It did have a 2 year old roof and a 3 year old havoc system so that put us to ease as far as major expenses but we are pretty happy with how things turned out, myself, my wife, and my mother in law did everything except the plumbing which we subbed out to a plumber we know who has been doing it for almost 20 years and does great work on the side if anyone needs one. All in all it was: Tear down kitchen and bathroom to framing than renovate, remove old linoleum and carpet, sand hardwoods and reseal them, paint, all the plumbing in the house was upgraded to pex, dishwasher installed, butcher block counter tops, sink, insulation behind every wall we took down, and lots of little odds and ends. I feel pretty confident with how the work turned out but would love to learn more about residential construction if anyone on here is a G.C. or knows one that needs a helper. I am having a hard time finding comps for rent in Knightdale so feel free to post what you think id be able to get for it, and also what the best ways to advertise in this wake county market are. 

Purchase price: 110k

Pre Reno Appraisal: 130k

Post Reno Appraisal: Would love some input here as we are new to this market

Renovation budget (including appliances): under 8k

Before Pictures:

After:

And sorry if the pictures are sideways I can't figure that out,

Thanks,

Bryan

Hey David, 

I recently moved to NC from Utah and purchased a property in Wake County, I decided to go skiing to celebrate and Maggie Valley was the first place that popped up so I went two weeks ago. I was blown away by how many out of state plates and tourists I saw, especially this late in the season, and talking to people while skiing they told me it was difficult to find an available Airbnb and the majority of them were staying for a week to ten days for their annual family ski trip. The local restaurants were filled with people, and they had a couple of ski/outdoor rental businesses in place to handle lots of traffic. I just did a quick check and theres a number of homes for sale under 225k, BUT I do not know what the town is like in the "off season", if I were in the STR business, and the spring/summer foot traffic is decent, Maggie Valley would seem like a no brainer for me.

-Bryan 

@David Burns Thank you, hopefully I will be starting renovations shortly so if you see a dumpster and me struggling to carry demo pieces out to it feel free to stop and say hi. @Ash Fields Sounds Good!

Hey Everyone, 

So after driving from Utah to Raleigh to relocate for family two weeks ago I have found my first potential deal here in Knightdale and need some insight into some local numbers. It is an off market deal for sale by owner I found just walking my dog and talking to people in the neighborhood, 110k purchase price, 2bd,1ba around 1000sqft with a new roof and 2 year old hvac unit, inspection is today so pending any major issues we will be moving forward and closing next week. My questions are, what are local 2/1 rent prices for the Knightdale area as I am having a hard time finding comps, are these types of prices and deals common, and does anyone have a good G.C. they could put me in touch with? Thanks everyone, glad to be in the area and will be attending some REIA meet ups and hopefully working with some of you soon!

-Bryan