All Forum Posts by: Christopher Anderson

Hi Jack,

I'm a new investor in Durham. Id be happy to connect and share what I'm learning with you. DM me here if you'd like.
Best, Chris

Thanks. We've decided that Pablo is gonna be CPO (chief penguin officer) of the real estate company we build.

Only very slightly. Mom's side of the family had relatives there. Was there once as a kid.  How is the market there?

Hi Brian, 

Cool Idea. I've added a few things. 

Best, 

Chris

@Bjorn Ahlblad Thank you very much!

Hello BP community, 

I'm beginning the process of taking on a number of BRRRR properties in the research triangle area (Durham Co.) and I'm curious to hear other people's thoughts about how important hiring a GC is.

About me: I'm got 20+ years in the entertainment industry working as electrician, carpenter, rigger, etc. I've also lived through multiple renovations on homes I've owned over the years. As such I'm somewhat handy, but also know where my limitations are (for example, I'm not a tile expert) I'm also very clear on the fact that I'm not licensed as an electrician or plumber. 

About the project: We have just submitted offer on 4 SFH in the area, that will require differing levels of reno. One can be pretty quickly turned around, one will need drywall demo'd and replaced (mold and tobacco smoke issues), the other 2 are somewhere in between. I'm in the process of developing a standardized checklist for my reno projects, so that if I do bring on a GC or simply hire out to subs myself I can both make the scope of work extremely clear, and keep track of material purchased and progress.

Question: How critical is it to have a GC for this project? I've not had any experience pulling permits myself, and am not clear on what the threshold for needing permits is (but I expect the subs would be able to tell me). Is this something that I can essentially project manage myself? Curious to hear other people's experiences and thoughts. 

Thanks, 

Chris

Hi Tim, 

I live in Durham myself and can tell you inventory here is suuper tight (< 1 month supply in triangle). I have a great broker and together we've been searching outside the triangle. There's more availability and the purchase prices are much much lower (I've seen duplexes below 100K). If you're going to be 5 hours plus away, those areas may be a better bet. I also know of some interesting new development opportunities that may be coming up in the next 6 months or so in the rural areas east of Raleigh (which is where there is a big push for new housing becuase of the number of people flooding the area). 

Send me a message on here and I'll give you my email if you'd like to talk more. 

Chris

Hi Karl,

Congrats on your move. I can say Duplexes are hard to find round here at the moment, but perhaps we'll see more inventory come online in beginning of 2021. 

Is Murrell's near Pawleys Island by chance?

Hi BP community, 

My name is Chris Anderson, and I moved from NYC to Durham with my wife Jane (and our baby penguin, Pablo) back in March. I just finished my pre-licensing course and will be taking the NC RE Exam in a few weeks. In the meantime, we are actively looking for investment opportunities in the triangle area. I'm particularly interested in 2br/1ba bungalow style homes. We're hoping to put in an offer on a few SFH in the area soon. I'm also beginning to develop a business around the design, construction, financing, and property managing Accessory Dwelling Units in the area.

Happy to connect to discuss any and all aspects of the real estate marketplace. And if anyone knows someone who is planning to make the move to the triangle, I'm happy to share some of the lessons we learned and resources we leaned on making this transition during this past year.  Best way to connect with me for now is to send me a message directly here on the forums. 

Thanks! Chris

Thank you both for your replies. 

I think we may be able to get utilities turned on during DD, so that's the option I'm going to pursue as first strategy.