All Forum Posts by: Leo Croes

I am a Realtor and contractor in Raleigh. Feel free to reach out with any questions you have on the market here. 

Looking forward to meeting everyone!

I use J.B Simpson Inspection, Jeremy Simpson is the owner. It’s a smaller company but I’ve had good experiences and everyone I’ve know that’s used them as had good experiences as well. 

Hey Christopher,

Good luck on your upcoming purchase. I am local to Raleigh and very familiar with the NC State area. I can certainly help you learn more about the market here. I manage a remodeling company and am a licensed broker so I can give you a fairly good idea of what your costs will be here. Feel free to reach out anytime and Go Pack! 

Southern Wake County (Apex, Cary, Holly Springs) areas ar very low crime, with great schools while still being close to what the cities of Raleigh and Durham offer. Most of the homes are fairly new (less than 25 years) and well maintained. Apex, Cary, Holly Springs and Fuquay have all each been listed as the best places to live in the country at some point in the last 20 years. Overall it’s an area that has continued to grow even through the last recession. 

The parameters you’ve set are good but this area is very large and spread out so RTP employees live throughout Wake, Durham, Orange, Johnston and Orange counties. 400k for a townhome is reasonable and rents tend to be in the $1600 to $2200 or so for those properties. Think the appreciation makes the investment worth it but I agree that you will more than likely be cash flow negative. 

I know Coastal Federal does it. Would check them out. 

I see that millennials perfer STR to hotels when they travel both for the convenience and space. Besides government crackdowns on them I see no reason why STR won't remain profitable for the foreseeable future.

Great Investment Sharla! 

Local here in Raleigh. We've seen a huge rise in housing prices over the past year in the Triangle area. Will be hard pressed to find anything in Wake County that will fit that budget but Durham County still has lots of great deals to be had and a much faster appreciate rate potential. I would look at Durham first if I were in your position.