All Forum Posts by: Jared Trindade

https://www.neighborhoodscout....

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https://www.forbes.com/places/...

https://fred.stlouisfed.org/se...

https://www.wilmingtonnc.gov/H...

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https://www.starnewsonline.com...

https://www.wilmingtonbiz.com/...

https://www.redfin.com/city/18...

Coastal NC, North Carolina

2 Votes

@Mitch Davidson

Very glad that you dropped by this post! Thank you for sharing that with me, I appreciate the insight, and I am sure anyone else reading this post will also take a lot of value from what you said.

I like the way you are analyzing you strategy, and appreciate you sharing. You also make a very great point regarding a market that people move to, not because of anything, except the surrounding terrain. It creates a unique atmosphere- where like you said people want to move to no matter what, because they are simply drawn to the beauty of the location.

Thanks again Mitch!

2 Votes

Asheville, North Carolina

Quote from @Mitch Davidson:

Nice work here, @Jared Trindade. Asheville, and the surrounding area, is an amazing place to live and invest! Moved here 8 years ago. So glad we did.

Have you ever been to the Panthertown Mountains? Been hiking there a few times, thoroughly enjoyed that area!

Glad you love it, and are finding success in the area, what's your main strategy? STRs?

0 Votes

Asheville, North Carolina

3 Month Update for High Point NC: Previous post in Market Data Thread -https://www.biggerpockets.com/...

*This is the second post in High Point NC Market Data Thread*

High Point is a medium sized city positioned right of Greensboro's hip, and in between Winston-Salem and Greensboro, supporting a population of around 117,000 and employing about 52.1k people.

High Point's annual population growth rate is sitting around 0.84% which is solid, 2.55% growth since the 2020 Consensus has been recorded. Persons over 65 account for ~15.6% of the population. Median age of 37.5, 20.7 min average commute to work, and a bit over 6,000 veterans locally. High Point is the 9th largest city in NC, and 274th largest in the US.

High Point has been working on many projects here lately, and I will list some of them now; Volvo is working on completing a $41 Million investment in it's Global Headquarters- retaining 360 jobs, EcoLabs with a massive $93 Million investment, that will retain 125 jobs and 20 new ones. These are massive projects, and Ecolabs is 1,000,000 sq ft building. Coldwell banker is adding 15 sales positions, and leasing a massive new office space. Cone Health, and a dedicated Senior Medical Center are also on the books. Few Notable expansions to mention are- Metal Works of High Point, BakeMark, Brown Truck Brewery, Future Foam, Glocal Leather, Lowes Cos, and Pennybryn coming in with a $35 Million investment as well. Plenty of money being poured into businesses in the local area, and that is something you love to see, and there are many more projects currently going on Downtown that I haven't mentioned in this post.

High Point is home to NC's top tourist attraction of the year The Qubein Children's Museum, something interesting I didn't know.

High Point's largest employers are Ralph Lauren employing about ~2,600 people and Atrium Health Wake Forest Baptist employing ~2,100.

High Point's premier school is High Point University, which as of 2020 report 5,617 students with a 98.4% full time student rate.

Let's talk crime, then numbers. High Point sits at a 8 out 100 on the crime index (with 100 being the safest) [Down 1 point, since last post]. The most recent report published online is from 2020 which shows Violent Crime down 10%, Property Crime down 9% and overall "Impact" Crimes are down 9%. HP defines "Impact Crimes" as crimes that negatively affect the community and draw department resources. These are good numbers to be to taking a look at, I am interested to see more recent numbers, but that's what I could find without a public records request. I'd like to see High Point continuing to decrease in crime.

The median home value is around $167,900, median sale price is a moving target around $235,000. Average DOM around 53 with average homes getting 3% under list and pending in 35 days, and hot homes are getting an average of at list and pending in 18 days. Some homes are getting multiple offers, not as much traction as other places, but I'd consider it "somewhat" Competitive for the deals that are going, but the curiosity in High Point is slowly increases as more investors become aware of the investment potential of High Point.

About a 58% owner occupied ratio. SFH 71% MFH 27%. Poverty rate is around 15.3%, there is a real potential for affordable housing in this market.

High Point has a cost of living ranked as 30/50th most expensive in NC, which means as far as NC is concerned it's around the cheaper side of cost of living.

High Point's most recent figure for GDP is at $37.4.Billion, in 2018 they were at $37.1 Billion.

I of course have to mention appreciation in High Point, looks like the average annual appreciation rate is sitting around 2.65% since 2000.

To conclude there is a fair amount of renters in High Point, and it's slowly becoming a hotbed for investors, lot's of people who are looking into flips and buy & holds are getting some solid opportunity in town. If you like the Winston-Greensboro area, check out High Point. If you read the previous post on this thread, I mention a bit in depth of how the city feels from area to area, as they differ a lot. Plenty of opportunity, and agreeable prices in a growing market that has investments pouring in, sounds like something to keep an eye on.

Talk at you again in 3 months High Point!

As always looking for questions, comments, concerns, and any feedback. It's impossible to know everything about a market, so any value add information is expressly desired, and I appreciate it! I'm looking to connect with more people on here, so please reach out! Don't be stingy with an upvote or commenting, it's how I know this content is bringing value to readers.

Cheers!

For more reading and sources:

https://www.redfin.com/city/35...

https://issuu.com/cityofhighpo...

https://livingcost.org/cost/un...

https://www.neighborhoodscout....

https://www.highpointnc.gov/33...

https://fred.stlouisfed.org/se...

https://www.highpointnc.gov/19...

https://www.highpointnc.gov/Do...

6 Votes

Greensboro, North Carolina

@Max Moncur

"I'm learning to identify how to trust someone and why someone is trustworthy in a real estate sense"

Just a personal question I like to ask people is what they are passionate about/ what get's them out of bed in the mornings. Pretty straightforward question, but opens a lot of people up to give you truly real information about themselves, as no one ever asks that question to people.

When was the last time someone asked you what your passions were, or what makes you get out of bed everyday and grind? Probably a coach for a sport in high school and that's been the last time. People in relationships tend to fail to ever ask this question as well!

The reason I deem this question powerful is because at a fundamental level, what are we if not all the things we love and are passionate about? That's what makes us the people we are, and things that light fires in us. No matter the topic, or the why, the passion of people is fundamentally what drives everything. Therefore, if they cannot passionately explain to me what drives them to get out of bed and go to a 9-5 for $14/hr than I do not have faith that person is someone I should my trust in. -"To pay bills" - Is not passion. There is a root to the why and that's driven through the passion for something. (Or any other example of anything)

Passion requires clarity, passion drives work ethic, and work ethic is what creates trust.

If you lack passion, you lack clarity, if you lack both of those, I cannot trust your work ethics.

I hope this very different perspective on this, gives you something interesting to think about moving forward.

Cheers my good sir!

0 Votes

Sacramento, California

3 Month Update for Asheville NC: Previous post in Market Data Thread -https://www.biggerpockets.com/...

*This is the second post in Asheville NC Market Data Thread*

Asheville is a medium sized city positioned south west in the state, supporting a population of around 96,000 and employing about 48k people.

Asheville's annual population growth rate is sitting around 1.16% which is phenomenal, 3.55% growth since the 2020 Consensus has been recorded. Persons over 65 account for ~19.5% of the population. Median age of 41, 17.3 min average commute to work, and a bit over 4,500 veterans locally. Asheville is NC's 11th largest city, and 363rd largest in the US.

Asheville has been working on many projects here lately, and I will list some of them now; A Biltmore development plan, 360 HIlliard Development - affordable and mixed income community, city hall elevators, Dearview community center, looking to rebuild/replace the electric substation in downtown, Haywood st, Jake Rusher Park, Linwood Community Center, Magnolia Park, Mtn Side Park/Memorial Stadium/Oakhurst Park refurbishments and repairs, onsite solar power for facilities across the county, outdoor dining on public street initiatives, playground renovations, Richmond Hill Park, Splashville is getting some needed refurbishments, Tempie Avery Community Center, Vermont Ave Sidewalks.

Also want to briefly mention the bridge over 1-26 by the Blue Ridge Parkway, is expected to be half completed by mid-2023.

A lot of those are bond projects, some are in the middle of completion, a couple are proposed, and many are ready to get started.

Asheville's largest employers are Mission Health System, Buncombe County Schools System and Ingles Markets. Each other these respectively employ over 3,000 people. Likewise the state and county employ a sizable amount of workforce as well.

Asheville's largest schools are Asheville-Buncombe Technical Community College, and University of North Carolina at Asheville. 2020 had the reported student population in Asheville at 10,158 students. ABTCC accounts for 6,601 of those, with a 29% full-time student rate as of 2020.

Let's talk crime, then numbers. Asheville sits at a 1 out 100 on the crime index (with 100 being the safest), if you look at neighborhood scout. Which I don't deem them having reliable information on Asheville. If you look at Asheville's police department, they'll give you everything except the crime rates. I took a peek at some community maps, and victim maps, and what I found was 38,533 victims reporting crimes since 2017. Breaking them down yearly, looks like we ended 2021 at 7728 crimes reported which was 3% down from 2020, and 8% down from 2019. 2019 looks like a peak year at 8,705, which was 19% higher than 2018. That's about the most reliable data I could find without a public records request. https://police-transparency-av... -Section to download their inputted data into this. Doing some simple math, with the numbers I could find, it looks like the crime rate would come out to 0.08, compared to national averages, looks like Asheville is not crime ridden as Neighborhood scout may suggest.

The median home value is around $363,000, median sale price is somewhere near $455,000. Average DOM around 65 with average homes getting 2% under list and pending in 62 days, and hot homes are getting an average of at list and pending in 34 days. Some homes are getting multiple offers, not as much traction as other places, but I'd consider it "somewhat" Competitive for the deals that are going, but Asheville is on a lot people's radar, the buyer's come out for a right deal and snatch them very quickly, and STRs around Asheville are very popular.

About a 50.6% owner occupied ratio. SFH 62% MFH 35%. Poverty rate is around 13.4%, there is a real potential for affordable housing in this market.

Asheville has a cost of living ranked as 3/50th most expensive in NC, which means as far as NC is concerned it is boasting some of the heftiest cost of living associated with the state. Asheville is known as a very nice area of NC.

Asheville most recent figure for GDP is at $24.3 Billion, in 2018 they were at $21.1 Billion. Pretty solid.

I of course have to mention appreciation in Asheville, looks like the average annual appreciation rate is sitting around 5.59% since 2000. Extremely solid appreciation and growth, and I imagine a good portion of that can be attributed to recent years.

To conclude Asheville is a lovely city in the mountains, and with plenty to do plenty to see and a city that is actively trying to accommodate the growing number of people living in and around the city, Asheville makes for a great potential investment area. The costs to get in are not as friendly as other areas in the state, as you are looking at one of the more expensive parts of NC to live in- that said however, a quick 20-30 minute drive away from Asheville gives investors a lot to work with in terms of STRs, Flips, and LTRs. Asheville tends to be a pretty strict on where STRs can be located. I've spoken with many investors who look to some of the satellite areas to invest in their STRs.

I grew up and spent many times hiking and camping in and around Asheville, and have many fond memories of visiting there.

Talk at you again in 3 months Asheville!

Cheers!

For more reading and sources:

https://www.ashevillenc.gov/pr...

https://www.redfin.com/city/55...

https://www.neighborhoodscout....

https://www.citizen-times.com/...

https://livingcost.org/cost/un...

https://fred.stlouisfed.org/se...

https://www.forbes.com/places/...

https://police-transparency-av...

https://www.communitycrimemap....

4 Votes

Asheville, North Carolina

3 Month Update for Durham NC: Previous post in Market Data Thread- https://www.biggerpockets.com/...

*This is the second post in Durham NC Market Data Thread*

Durham is a fairly large city positioned just a bit west of Raleigh, supporting a population of around 300,000 and employing about 147k people.

Durham's annual population growth rate is sitting around 1.87% which is phenomenal, 5.8% growth since the 2020 Consensus has been recorded. Persons over 65 account for ~12.3% of the population. Median age of 35, 22.5 min average commute to work, and a bit over 10,000 veterans locally. Durham is NC's 4th largest city, and 73rd largest in the US. Durham is speculated to have an additional 70,000 home buyers over the next decade. The population data here alone is exciting to see.

Durham has been working on revamping some nice downtown buildings; The Chesterfield, Durham Innovation District, One City Centre, 21c Museum Hotel, The Durham Hotel are recent projects of the downtown development plan. Currently on the books is the development of two intersections- Angier and Driver Street as well as Mangum and Corporation Street. Durham has been rapidly expanding for years, so it is in full drive mode to make the downtown areas more appealing, as well as able to accommodate more people.
Some more of the local neighborhood improvements recently consist of; Ashley's Corner, Grub Durham, ABC Center, Joe Van Gogh/Local Yogurt, Bookman Commercial Holdings LLC/Checkers.
Plenty of development going on Durham, and plenty more to come.

Durham's largest employers are Duke University and Duke Medical Center.

Durham's largest schools are Duke University, North Carolina Central University, and Durham Technical Community College. 2020 had the reported student population in Durham at 29,214 students. Duke accounts for 16,172 of those, with a 94.9% full-time student rate as of 2020.

Let's talk crime, then numbers. Durham sits at a 4 out 100 on the crime index (with 100 being the safest). Looking at the recent week-week/ytd report for crime stats, it would appear that Year over year Durham has seen an increase of 6.65% in overall crime. Violent crime has decreased by 11.69%; while homicide has increased by 60%, property crime has increased 11.34% since 2022. As with most cities in the US, crime is typically rather localized, and if you are familiar with the city then you know where the higher crime rate areas are. If not connect with someone who does if looking to invest in Durham.

Anecdotally I, and many other while showing properties in Durham can vouch for this- showing off a $300,000 home on a great 1/2 of a street, you look across the road and get the sense you aren't in a great area, turn around and look at the homes on this side, and you'll think the opposite. Durham is very street by street, and in some cases certain sides/sections of streets are much nicer than others. It's a rather interesting area, and knowing where you are is important here.

The median home value is around $325,000, median sale price is a moving target, somewhere near $370,000. Average DOM around 66 with average homes getting 2% under list and pending in 48 days, and hot homes are getting an average of at list and pending in 21 days. Some homes are getting multiple offers, not as much traction as other places, but I'd consider it "somewhat" Competitive for the deals that are going, but Durham remains on a lot people's radar, the buyer's come out for a right deal and snatch them very quickly.

About a 51.9% owner occupied ratio. SFH 60% MFH 40%. Poverty rate is around 12.6%, there is a potential for affordable housing in this market. A lot of renters and a massive amount of students in Durham give investors the comfort of knowing that renters will typically be abundant, couple that with the population growth, and there is little to be super apprehensive about when it comes to occupancy.

Durham has a cost of living ranked as 39/50th most expensive in NC, which means as far as NC is concerned it is pretty agreeable in pricing. People in Durham get to enjoy some of the cheaper side of NC. Being a skip down the road to Raleigh is a major plus.

Durham's most recent figure for GDP is at $60 Billion, in 2018 they were at $50 Billion. Solid.

It would be unbecoming of Durham not to mention appreciation as it is one of it's major draws for investors. "Another important note is the rate of appreciation in Durham. It is ranked in the top 20 in the nation for appreciation. In the past 10 years, Durham has seen an average annual home appreciation of 6.9%. The demand in the past two years has risen aggressively, and this has translated into higher house prices. In Q4 2022 Durham's appreciation rate was 8.78%, a great indicator of what's ahead for Durham." Since 2000 Q1, Durham has experienced an average annual appreciation of 4.54%.

To conclude Durham is a location that should be on all investors in NC's radar. There is a great market here for renters, buy & hold is extremely viable, I personally know many who have house hacked in Durham very successfully, and there is opportunity everywhere. The prices may be the biggest hurdle for some to jump through, it's not as easy on the purse as places like Fayetteville NC may be. Interestingly enough the majority of people who move to Durham that are NC locals are coming Fayetteville. Some interesting data in the previous post, that would be redundant to include here that may be worth reading into as well.

Talk at you again in 3 months Durham!

Cheers!

For more reading and sources:

https://www.redfin.com/city/49...