All Forum Posts by: Phillip Bradrick

@Ramki Dirisala

Great questions. All the sub markets around Raleigh and Durham have appreciated quickly over the last few years. To answer the question you are asking I would think about what markets have the most continued up side and how markets would fare in a market pull back. Cary and Wake Forest are bedrock higher end communities. Holly Springs is blending into the greater Cary market and should continue to see solid appreciation as well as fare well if the market shifts. I would lean towards Holly Springs.

Garner and Clayton are areas you can get better cash flow but I would say that the long term appreciation potential would be lower.

If you need insight on rents for a specific property feel free to DM me as we manage hundreds of rentals across the triangle.

@Noureen A S. Greetings, if you had a location of where in Raleigh the property is, I could point you to some resources. With a D class property there are only a few property managers that would want to take that on depending on the exact location. Feel free to DM me and with the address.

@Gopichand N. Always happy to connect with other investors and share with them more about investing in the triangle. Thanks for reaching out.

@Joe Nguyen

I think you’re looking in a great location that has strong long term application potential. I’m an investor and work with investors who are looking to get into the market. The specific location fir you to look within the greater triangle market will depend on your strategy and the returns you are hoping for. If your looking for manly cash flow you’ll need to look at some of the surrounding markets or heavily distressed properties to find ones that will meet those criteria. If you’d like to have a conversation PM me and you can tell me more about your goals.

I can tell you this much, you’ve already identified a fantastic market which is a great step in the right direction. 

@Karen Pendergast good question. I’ve worked with a lot of bankers and typically they only offer primary mortgages on investment properties. Is there a reason a line of credit would serve you better rather than just refinancing and pulling out cash while rates are still low? The only other option I’ve seen with a bank is a collateralized fixed rate loan based on the equity in an investment property. When I looked at that the benefits weren’t any better that a full refinance.

@Luke There are a lot of PMs in the triangle market. I began using Apple Realty about 8 year’s ago and was impressed with their processes and management. I have since joined the firm and am happy to connect with you to give you more details. Finding a quality property manager is such a key piece of the real estate investing game.

@David Keller great to hear from you. I got into real estate investing in SF homes about 7 years ago. Raleigh is a great market to be in and if your goal is to find properties that break even on cash flow that is doable in this market. Like many markets, real estate is hot hear but with several big tech companies moving to the area the potential for values to continue to rise is strong.

I’m happy to help be a resource as you start to invest in this area. PM me and I can give you more details on property management and brokerage services.

@Tomer Maoz great question. I think you’ve out your finger on the challenge of 1031 exchanges into this market. I agreed that new town homes would be one of the best ways to do that. There are quite a few new developments in south Durham and in Raleigh. You may also look at the Clayton / Garner markets. With Amazon announcing their new distribution center in Smithfield these markets have good upside and aren’t too hot yet. I have investment in Wake Forest and Youngsville but have helped other investors land deals in these markets.

@John Boland so I am a property manager as well as an investor. It sounds to me this PM is a classic old school PM. Good with the job of keeping the property maintained and rented but not good with the reporting / paperwork. My guess is he’s under staffed and feeling the crunch of the spring market. Although good reporting is essential in this business, if he’s not doing already it will take a lot of effort to get him to start. I’d recommend just starting to shop for a new PM. Sounds like there is no major rush as he’s doing the job of caring for the property. Once you’ve found a company that uses a management software and has consistent monthly reporting as well as good management practices you can make a switch.

I hope this helps.

@Klaycon Santos great to see your post. There are several great meetups. The largest one is https://www.treia.com. It is not a BP meetup but a way to connect with others. Feel free to connect and I’m happy to be a resource if you need specific connections in the Raleigh triangle market.