All Forum Posts by: Ryan Groff

Hey Paul,

There are plenty of local private money and hard money lenders as well as national lenders that will lend 90% of total cost (purchase price and rehab). I know of a couple that you can refinance directly through the same lender after completing the rehab and getting a tenant in the property. PM me if you would like their contact info.

What is everyone paying for your standard Low E window installed in the Raleigh Durham area?

Welcome Tremell, hoping to see some of your home run deals soon!

If you are looking at single family it is going to be difficult to find something that cash flows at that $350k mark. I would definitely recommend going for 2, maybe even 3 that equal out to $350k. The schools are not the best, but there are still an influx of young adults and first time home buyers moving into there area. You also have some good options in and around the universities, where there will continue to be demand from students.   

There are still great deals to be found in RTP. If you are wanting to "get ahead of the curve" per say. I would say Durham is your best bet. There are still plenty of areas near downtown that are just starting to see new builds pop up, rehabs taking place, mixed use commercial widening, etc. However, if you are looking for the next great suburb Matt gave some great suggestions.

I agree with Jeff. It is great to get started young, and awesome that you are about to be in a position to begin, but if your main goal is to have $1,000,000 in equity then you will not capture as much equity going the traditional mortgage route. BRRRR is where you capture that solid amount of initial equity.

There are plenty of Hard Money companies both nationally and locally that can help you, and $50,000 will be plenty to get you a great rental in the area. If you need any recommendations on hard money lenders reach out. Best of luck.

@Jessica Bullock Welcome. If you need any help evaluating deals or finding buyers please let me know. I am an investor, broker, and wholesaler in the Raleigh area. 

Personal reasons that had nothing to do with real estate combined with the heavy amount of competition, particularly in the wholesale sector.

@Neil G. You have to remember how hard Florida got hit from the last housing crisis. I'd take a look at those same home values in 2006 and I think you would be surprised. It took most of Florida years longer than other states to get back to pre crash prices. Median home prices there are still very reasonable.

I spent 5 years investing and living in the Tampa market, and am now in the Raleigh market. I don't think you can go wrong with either. The Tampa market is incredibly competitive with a much higher education level for your average every day investor, but the rental returns are much higher than what I have seen in Raleigh. I think Tampa is poised for growth as is seen by the massive amount of commercial development throughout the metro by Bill gates and the Lightning owner Jeff Vinik to name a few. All that being said, I think Raleigh is potentially the next boom. The economy is so strong here with the hospitals, universities, and  massive  tech migration from the big coastal tech markets including San Fran, Boston, Seattle, etc.. It's not on everyone's radar and has so much space to grow. I guess it comes down to if you are more focused on cash flow, appreciation, or a combo of both.