Looking to invest in a townhomes around the Raleigh /Charlotte area in NC

[John Duggan]

We are looking to invest in a townhomes around the Raleigh area Or Charlotte in NC and would appreciate any advice from the fellow members of the BiggerPockets community. We like the area for a couple of reasons. The area has seen very strong population growth over the past few years as well as an influx of employers and businesses. The state overall has seen growth in its population as many migrate in from other states.

We are specifically looking at  town homes in some of the suburbs such as Holly Springs, Apex, and Wake Forest. Our criteria is around 1800 -2000 sq ft, If existing homes then build date should be after 2018 . For new townhomes -Any suggestions for areas that offer good townhomes or builders offering townhomes in best areas? Also any suggestions for good realtor

Thanks

John D

[Paul Sofia]

I can't speak to RDU but Charlotte, see below.  Just check the numbers from Aug.'22-Jan.'23.  I actually saw the writing on the wall in March '20 and sold my inventory of dirt and made a handsome profit less the headache.  I have since adapted my company to a retail business model doing site built construction. It mirrors my other company's model but I do manufactured and modular homes.

I was around and survived the last crash.  I know many more were not so fortunate.  Next crash will be worse because of the commercial onslaught.  Let's not forget the moratoriums and forbearances.

If you are not buying way below the inflated market, it's best to wait...

https://www.carolinahome.com/m...

The numbers speak for themselves.  When I told my banker in April '20 what my thoughts were, he thought I was wrong.  I sent him pdfs of the five past months vs. last year....egg on face.  He knows the numbers are off but i don't think he thought by that much.  Just so you know, I have over 20 years in this game (all in the Charlotte MSA).  Be careful.

I'd be more than happy to jump on the phone and give you some free advice and I can add to why we are in an overinflated market.