All Forum Posts by: Patrick Madigan

Keywords: Durham, Raleigh, Cary, Apex, Holly Springs, Chapel Hill, Triangle, North Carolina, cashflow, turnkey, long-distance, appreciation, landlord, buy and hold

Renovated duplex two miles from the heart of Durham; blocks from NC Central University. Both kitchens completely renovated with new cabinets, countertops, appliances. Fresh paint and flooring throughout. Both units are 1BR/1BA, sharing a spacious front porch and large back yard. Unit A currently rented for $725/month through 08/31/19. Move in to Unit A or rent it out for a cash-flowing investment. 

Does anyone remember the podcast episode where the guest described a unique/alternative way that they took their profit, after the investors got paid? I seem to remember it being a simplified alternative to the preferred rate of return structure.

@Chris Martin, thanks for bringing us back to the initial objective. Admittedly, I just chimed in to help clarify some basic geographic/economic regions of NC - I wasn't really considering the implications my contribution could have on BP forum organization. Regarding sub-threads, I totally defer to your proposal and expertise in this area. I do love NC and maps, but I'm still learning my way around the forums, and think your proposal is the way to go.

Hi @Chiedu Chukwumah. Congrats on the interest in your property. There is a lot of variety along New Bern Ave, and the area is changing rapidly. Depending on how close your property is to the Longview shopping center, the development plans that were announced 3-4 weeks ago are indicative of the changes occurring in this area. There are also a handful of overlay districts along the New Bern corridor that are important to be aware of--both historic overlays and neighborhood conservation overlays. Make sure your agent pulling comps is familiar with these neighborhoods and how the value can quickly change from street-to-street. I'm a full-time licensed broker and we just purchased our first home on Jan. 3rd, one block off New Bern Ave. It was not listed on the MLS, so we did a lot of research into the local comps before purchasing in this area, and found some interesting variety even just one and two streets away. Last January I also helped a couple close on a flipped home one block off Glascock St, and their value is already changing rapidly in just a year. It all depends on what "area" of New Bern Ave you're in. Make sure you have solid information before proceeding. You don't want to miss out on potential equity, and you need someone who can help validate a borderline price if it's a developing area, while other areas might be more stagnant. Hope that's helpful. I'm glad to help if you have any specific questions. Best of luck!

@Chris Martin Forgot to mention, those growth numbers were comparing populations from 2000 and 2013.

@Chris Martin, I've seen you post about County Tiers many times. I thank you for brining this tool to my attention. Something that interests me is the change between tiers, especially as seen in me and my wife's home counties. I'm from Haywood Co,. which I'm surprised to see jump into Tier 3 this year, and perhaps more surprised to see that my wife's Guilford Co. friends and family are now living in a Tier 2 county. Any thoughts on these moves? A quick Google search shows Haywood Co. has grown in population by 9.3%, with 19.9% for Guilford. Must be other factors weighing more heavily into the moves.

I would send @Win Pratt and @Aaron Turbeville, but they're helping me move. They just don't know it yet. :)

I've been keeping an eager eye out for this announcement of the second meet-up, but will unfortunately have to miss it. We're moving into our new place on Saturday AM. I'll try to send a few proxies to take notes for me!