All Forum Posts by: Phillip Bradrick

@Becca Lee I live here in wake forest and am a real estate investor as well as owner of a property management company that serves Wake, Durham and Franklin Counties. We love Wake Forest and have found it to be a wonderful place to live and raise our family.

@Ayush Rustagi So I don’t know of someone specific in that market but I would recommend looking for a property manager on the website for National association of residential property managers. This will give you a list of folks that are well qualified and you could do further research from there. Here is the link. https://www.narpm.org/find/property-managers/ I hope this helps.

@Alecia Loveless I think you are wise to consider whether you are getting spread too thin. At the same time, I know that having a deal on the table in this market is an opportunity that’s hard to pass up. If I were in your shoes I’d pursue the purchase if I were confident in the property and the cash flow. Once you have it under contract you could always get creative and look at ways of minimizing your risk. If you were to bring in a partner on the 5 unit it could reduce your cash needs for the purchase. In my opinion you’ll always have unforeseen repair expense but if deals have solid cash flow and equity then you’ll be fine. If however, you feel this new deal doesn’t have much equity or cash flow then I’d be careful in taking it on. I know there are many factors to consider but hopefully this is helpful.

@Patrick Knapp great to hear your success in landing a deal. They are harder and harder to find and it takes more patience and creativity than ever. Congrats.

@Steven Harris Good questions. So your first question referenced no money down but it sounds like you are planning to buy in cash and flip the property. If you can clarify this it would help giving some feedback on best routs to go getting started investing.

One of the amazing things about real estate is the amount of ways you can go about getting into it depending on your situation and skill sets.

@Rohini I agree with you that this area is poised for long term growth and is an excellent market for appreciation. I’ve been investing here for years and the growth has been very rewarding. @Chris London did a great job of giving an overview of the market. What I tell clients is that if cash flow is top priority look at the sub markets around Raleigh/Durham/Chapel Hill. If appreciation is the top focus, buying closer in where there are established communities with strong demand would be the place to look.

Feel free to reach out if you have more specific questions about areas.

@Oren Kachel hey there, how many units are you looking to have managed? It depends on the area. Traditionally those are D or C class areas so not every property manager will take them on. If you want to give me more specifics on locations or DM me the address I can give you some names of companies that would be a fit.

@Pavel Gritsai good questions. There are deals out there under $300,000 but you’ll have to find a more distressed property or one that’s in a more rural market. I just purchased a duplex under $200,000 but those are very rare. Feel free to DM me if you’d like a more detailed rundown of the sub markets around Raleigh. There are opportunities out there but it certainly takes a bit more patience and creativity these days.

@Nick I think your on the right path. I would recommend you start running numbers on deals and sending out letters to houses you think look distressed. If you’ve got the time to drive neighborhoods, research tax records and talk to people then start there. If you have a solid prospect that’s looking yo sell, feel free to reach out to me. If it’s a solid deal I can certainly help you get a buyer. I’m an investor and work with lots of investors. The biggest thing is just start trying to get a deal on the line.

@Nick Great to hear you’re out there hustling and interested in getting into investment properties. I remember being in your shoes and getting my first assignment check after finding a home that looked abandoned. If you are on the road a lot then looking for beat up places and sending out letters is a great place to start. Let me know if you have any specific questions or areas you need help getting started.