All Forum Posts by: Shamit S.

@Shamit S. Welcome!  

Hello @Shamit S.!  Greetings from Central Alabama, to be more specific, Selma Alabama.  We have been successful with several buy and hold as well as a few flips here.  If I may be of assistance to you in this area please feel free to reach out.  Good luck to you in your investments.

 No problem. I've also made one for Cleveland and am working on one for Memphis and Indianapolis.

 Welcome aboard Shamit.

@Shamit S. I wouldn't worry about the tourist economy in Wilmington. You can see the housing prices didn't fall significantly like in the last crash. Wilmington is essentially the southern beach capital of NC. Plenty of regular employees, retirees, professionals moving into that area every day. The numbers don't lie when it comes to population growth. I recommend the short term rental space in Wilmington especially if the numbers work for a long term rental when the economy slows. That's a pretty safe area to invest. Ogden and Leland are great places. Leland is more up and coming. You can purchase new construction in Leland and get the 1% rule out of it! I know people who have. I invest more in Ogden, Murraysville, and Castle Hayne areas. They are more blue collar but they are steady. I'm not as invested in the short term rental space currently though. Let me know if you need an investor/agent in Wilmington. I only use agents like myself who are investors for obvious reasons. 

@Douglas Vogel depends entirely on the area. In the Triad MF space there are opportunities anywhere from 20k-80k per unit. And Yes, I agree the Wilmington market is more competitive than Greensboro currently. I am able to find 1% fairly consistently here in Greensboro on the MLS. Wilmington is tough to get the 1% but the housing market has appreciated faster overall. Again, I don't invest for appreciation but it's a great bonus. There is only so much coast haha.

@Shamit S. @Tracey Callison - I've had great success in Durham, NC - with single-family and small multi-family properties. Durham is also where I live, so I've not yet attempted to invest outside of this market. When I do, it will likely be in one of the smaller cities around the Tampa Bay area of Florida, as I lived in several cities there before moving to NC.

@Shamit S. It may be location specific but in Columbus, OH all the good PM companies are locally owned. Then if you have an agent that also does PM you are in an even better position. If your buying agent manages the property, they will put the extra effort into it. They know that when it comes time to sell, they will get a piece of that sale price.

I want to appreciate my client's assets as much as so when we go to sell my commission check is even larger. Plus, we can get into something bigger. If you go with a large chain, they do not have the same incentives. Down the road, I will look to get equity positions with my clients. They are not going to agree to that unless I have earned it with the work, I have already done with their current properties.

This is just my opinion and not legal advice.

Hey Shamit,

Happy hunting. All areas you mentioned are viable options for rental property. I am partial to the North Carolina market due to the positive cashflow and growth potential. The North Carolina population is growing rapidly with no signs of slowing. I invest primarily in Greensboro and Wilmington NC. I live in Greensboro. Let me know if I can be of assistance. Good luck. 

@Gil A. I am not sure why anyone would use a national property management company. I feel that the smaller and more personal property management you can get the better.