All Forum Posts by: Phillip Bradrick

@Scott B. You are correct. The area you mentioned is beginning to turn but has been a low income area for a long time. The Traditions neighborhood backs up to it on one side and wake Forest downtown is starting to develop a long Wait Ave. I’m currently working with some developers on a larger project across from the old Wake Electric building. If this project goes through it could be a tipping point for much of that area.

@Scott B. Hey Scott, I’m an investor in the area and have quite a few rentals of my own in Wake Forest. It’s a great spot with good rental demand. Let me know if you have any more specific questions. Happy to help!

@Kayleigh Great questions. You’ve already been pointed in the right direction. There is not a need to have a license if you are the owner. A business entity can also hire employees to manage their own properties. Where a license is required is when property management is done for others for any kind of compensation. I’m an investor as well as a full time property manager in the Raleigh / Durham area. If I can ever be a resource for you I am happy to. Feel free to pm me and I can help you with any information you need to get rolling.

As to the llc question, that’s an attorney’s expertise but I would certainly say you can kick the can down the road on that for several years till you have more volume. Setting up an llc for the properties and quit claim transferring them into that entity would be the first step in my opinion. Hope this helps!

@Nathaniel J Mott Great question. I work in property management and would highly recommend looking for a house that had a full bath for each room. This can really drive up the amount you can rent out the extra rooms. We see this with properties near Duke and NC State student rentals. You will get a much better return on your investment paying a little more for that extra bathroom. Feel free to PM me if you want to talk more. I’m right here in N. Raleigh.

@John Baker fabulous! What are you getting for rent?

@John Baker congratulations John. Great to hear a success story and finding a deal in this market is an accomplishment. Is this your first property in Wake Forest? I have properties here as well and they’ve done very well over the years.

@Paul Carrington

Hey Paul, great to connect on BP. I’ve had rental properties for years and have transitioned full time into real estate. Personally, the properties I have are all older homes which traditionally have the ability to create greater cash flow. In the market today though, it is very hard to find an existing home that is being sold at a discount. Now that I’m a licensed real estate agent and work with a firm that manages over 600 properties I’ve seen first hand the difference in managing new construction vs existing construction. Just recently we started managing several rentals for an investor in the new 5401 North Development and the new renaissance town home community in downtown Wake Forest. Although these don’t cash flow as well, if you’re able to put enough down and take advantage of cheap interest rates it makes for a good long term investment. You’ll have almost no repair costs in the first few years and can attract a high quality tenant. At the end of the day, I’d say it boils down to appetite and what return on investment you’re looking for. If you can find a beat up existing house to fix up, you’ll certainly get better cash flow than new construction, but it comes with a lot more effort and risk. Let me know if you’d like to chat further at some point. 

@Patrick O'dowd Great question. There are a few of the larger service companies out there that offer many of the trades under one roof. Typically they are the bigger players in the market and charge a premium. Other than that, you can look at finding a skilled handyman that can cover most things. I’m in property management and we have many contractors that we work with. It is hard to find a one size fits all solution though. If you’re interested in running the numbers on full service management I can certainly help you compare that as an option.

@Cameron Wilson Great to hear your plans to move to the Raleigh triangle area. I’ve lived here for years and we love this area for many reasons. In a uncertain market, I’m grateful to be in a location that is attracting business and people looking for a thriving market in a mild climate. Just in the past few weeks I’ve been amazed to see how many people I’ve connected with transplanting here in the middle of this pandemic.

I’m an investor myself and full time property manager and real estate agent. Our firm manages over 600 properties all across the triangle and beyond. We have a pulse on both the hot, booming areas as well as some of the higher cash flow more rural markets.

I’d love to hear more about your investing history and what sectors and strategy’s interest you. As I’m sure you know from investing up north, you’ll need to have a clear game plan and all the finding and resources lined up to make a fast move when you find that right property.

Because we focus as a firm with investment properties I have some great lending partners that work specifically with seasoned investors. I’d be happy to connect further and help you in any way I can. Feel free to PN me and we can schedule to chat further.

@Jon Allen Jr You won’t regret the decision to move to the Raleigh area. We love it here and it has so many great elements and is still relatively affordable.

I’m an investor and RE agent/ property manager. I’m happy to help you in any way I can. If you need input on the market, locations, rents, or anything else feel free to reach out. And maybe with things opening up we can grab coffee and I can introduce you to the best coffee shop in the Triangle.