All Forum Posts by: Peter No

@Shane Wolf That's crazy to hear. The prices are rising so fast man and properties are getting a large amount of offers over asking and it becomes like a war for highest offer. It always was about highest offer but now it's reaching over the top territory with crazy over asking offers. It's great for flippers though, just not so great for the people buying them as primary residences.

It's no secret that the RTP area of NC has been growing like crazy with fast real estate market with prices higher than ever. Raleigh in particular is going crazy! Closing times that are half as long as the national average, with most homes closing within 7 days from being listed. A huge seller's market with demand through the roof and supply struggling to keep up. This means homes are not only selling fast, but selling high even in the outskirts. 

This is all thanks to the major developments that Raleigh has been undergoing as recent. We didn't beat out Austin, TC as the number 1 projected real estate market going into 2021 without good reason. From large tech companies moving away from the super cities to a much more cost effective yet still very populous area. With RDU and the three major research universities all in one area, business is booming and money is flowing. 

This article from RALTODAY highlights over 15 major developments across Raleigh. From Raleigh's only Krispy Kreme getting some big renovations to the Litchford 315 mixed use project opening up in the upcoming spring, we are expanding to some incredible heights. Over the next couple years, we'll be seeing more projects like Litchford being developed and opened up for businesses and residents alike. 

With the area experiencing so much current and planned future development, the economy in the area will be as strong as ever. More jobs, more housing, more opportunity for everyone far and wide. No wonder why homes are flying off the MLS in such short time spans. As an investor, getting cold feet on a large project now could mean missing out on huge profit later. The opportunities right now are endless for investors. Fix and flipping is likely to yield quick returns. Buy and holds are likely to appreciate at an astonishing rate. It is truly a market built for investors in my opinion. I know rising prices doesn't always help when buying but it sure does help when selling.

What is everyone else's thoughts about the area? I'm especially interested in reading about any concerns people have for the market that I might be missing and should keep track of. As whole across the country too, what are the trends in some of the other major cities like New York or the DFW area, etc.?

My best experience finding good contractors is through just networking. Going on LinkedIn or here on BP or sometimes even Facebook. Look for people who have lots of connections on BP or LI and have a good history. It's always a bonus if they have an actual company page that you can see reviews for. Other investors is also a good way to get recommendations because more likely than not, they've been through a few different contractors that they can recommend or warn you of.

Hey Angelo, great to see you're getting your confidence to hop into REI! Confidence is going to be a huge asset to have as you start looking into buying your first project. The market out here is very hot and it isn't letting up any time soon so being able to confidently make a decision on something can make the difference between you getting your ideal first project and losing it out to someone who was quicker on their decisions. Make sure you have some good capital built up, make some connections with hard money lenders, and find good wholesalers or experienced investors who can help lead you down a successful path.

As a new investors, be cautious of who you give your trust to as well because I have an investor who trusted a "private lender" that was just trying to scam her out of thousands of dollars and refused to show proof of funds when asked and none of the sources he told us he was a part of came back with his info. Do your due diligence with who you network with just as you would do due diligence on your properties. 

If anyone's been keeping up with news throughout the Triangle's real estate market, they'll see article after article talking about how hot the market has been. ABC 11 news released an article back in August talking about Raleigh's market in comparison to the nation's average in terms of turn around. Homes were selling on an average of 1 week from day of listing which is 4 times what it was towards the end 2019 and twice what it was in June this year. Overall, Raleigh is selling twice as fast as the rest of the nation and part of that has to do with the high demand, low supply in the area. Homes are in high demand out in the Triangle and sellers are having a hard time keeping up. 

What that means is the likelihood of home selling at asking or over asking is higher and you're not sitting on a property for extended periods of time to sell. For investors, it means you're able to move more properties in a shorter amount of time because you're not waiting for that one rehab to sell before being able to move on to the next project. Your investment will probably sell faster than it takes to find your next project so get into the game now while the market is crazy hot. Rates are low, demand is high with fast turn over at or above asking. 

The news article is linked here

Count me in!

Just saw a post from CBS17 of the plans that Raleigh city officials have for developing Midtown. They're planning to build a walkable overpass over I-440, building new "Green" streets and stormwater infrastructure, a new street grid connecting more parts of the area together to allow more avenues of travel for pedestrians and vehicles, a proposal for a project called "The Midtown Ring," and much more. If you visit the CBS17 page for it, there's a link to a full PDF of the city's plans for Midtown.

What's everyone's thoughts on this and how do you see it impacting the RE market around there and Raleigh as a whole?

What does everyone here think about the market in the Research Triangle of NC? What trends have you all seen in supply and demand and what kind of properties do you think buyers are looking for more often? I'd also love to see if there's anything buyers or sellers are worried about or excited for in terms of how the market is trending. I know a lot of investors are waiting for election season to pass, but what other things are coming up that could influence decisions to buy or sell?

Hey Antonio, I'm a wholesaler based out of Raleigh but working out towards Fayetteville as well. Feel free to reach out to me anytime if you want to chat and I actually used to live near Fayetteville so I'm fairly familiar with the area too!

With the Raleigh area being such a hot market in recent years, I'm looking to find new or experienced investors or other agents to network with, discuss the latest news about the area, and establish some solid relationships with. I'd love to hear about other people's experiences in the area and what they think about the future for Raleigh as it continues to grow in comparison to places like Charlotte or Austin.