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Updated about 3 years ago, 09/26/2021
North carolina investing
@Ryan Keenan Hey have looked into Concord and Gastonia?
@Ryan Keenan I would consider what type of deal you are getting into more than how many are available
if you are acquiring it at a great price and the numbers work it's a win
@Ryan Keenan. Durham and the triangle is booming I wouldn’t say it’s over saturated. 20-30 people move here each day. They all need a place to live.
For a more in-depth opinion of the local market reach out to @Dawn Brenengen
Originally posted by @Caleb Heimsoth:
@Ryan Keenan. Durham and the triangle is booming I wouldn’t say it’s over saturated. 20-30 people move here each day. They all need a place to live.
For a more in-depth opinion of the local market reach out to @Dawn Brenengen
Thanks for you insight!
Originally posted by @Adam Serdula:
@Ryan Keenan Hey have looked into Concord and Gastonia?
No I have not but will take a look . Thanks!
If you're after cash flow I would look at markets near the Triangle but avoid the Triangle itself. I've been focusing on the Triad - Greensboro, Winston-Salem, High Point. It's a solid services/light manufacturing market halfway between the Triangle and Charlotte on a major interstate. A more diversified economy than places like Fayetteville in my opinion.
I've been investing in Fayetteville for a while, it definitely seems saturated to me. It was fine place to buy for cashflow when it was easy, but now that deals are getting more scarce and margins shrinking it seems inefficient to also buy in a market with no growth. Fayetteville is a good market for recession risk mitigation (thanks to the military) but that hardly (imo) outweighs the increasing difficulty and smaller profits.
Greensboro is where I'm looking to buy next, you might want to check it out ;)
@Alexander Felice. Have you heard of the new baseball field, hotel, restaurant and other plans for Haymount within the next year. I wouldn't be straying away from Fayetteville quiet yet, growth is coming. Let me know if you want the link to the video of development plans.
@Ryan Keenan I personally invest in rentals in Fayetteville as well. If you're looking for rentals it's a great market because of the military base. The quantity and quality of tenants Fort Bragg brings in is ideal for SFH rentals. If you have the right team in place Fayetteville is great!
Originally posted by @Chalie Krautkramer:
@Alexander Felice. Have you heard of the new baseball field, hotel, restaurant and other plans for Haymount within the next year. I wouldn't be straying away from Fayetteville quiet yet, growth is coming. Let me know if you want the link to the video of development plans.
@Ryan Keenan I personally invest in rentals in Fayetteville as well. If you're looking for rentals it's a great market because of the military base. The quantity and quality of tenants Fort Bragg brings in is ideal for SFH rentals. If you have the right team in place Fayetteville is great!
Thanks for the reply! How long does a single family stay vacant? Say 3 bed 1 bad? And what's the rent on that?
Thanks!
@Ryan Keenan I'll send you a message.
When I got started in real estate I got started in the triad area- then moved out to the research triangle area. Near and dear to my heart. I think the triad market in particular is a great market to really focus in on.
Originally posted by @Chalie Krautkramer:
@Alexander Felice. Have you heard of the new baseball field, hotel, restaurant and other plans for Haymount within the next year. I wouldn't be straying away from Fayetteville quiet yet, growth is coming. Let me know if you want the link to the video of development plans.
@Ryan Keenan I personally invest in rentals in Fayetteville as well. If you're looking for rentals it's a great market because of the military base. The quantity and quality of tenants Fort Bragg brings in is ideal for SFH rentals. If you have the right team in place Fayetteville is great!
Yes I have, the baseball field is the dumbest thing they could have spent that money on. It'll also go grossly over budget. Whatever idiots planned that are doing a disservice to the community. Would have been far better spent on subsidies for diverse employment.
Fayetteville is hamstrung by Bragg, Bragg isn't going anywhere for sure but the way is over, recruitment is no longer in demand. There is no future massive influx of soldiers and therefore no true growth because there are no other industries in the area. Fayetteville is a GREAT place for cash flow, awful for appreciation, so the only play is to buy at massive discount. My original point was it's a great place to buy when it's easy, but with recent saturation, I find the effort is increasing while the returns are diminishing. There are just better places to go for people just starting out.
@Ryan - vacancy is a non-issue. My team and I have nearly zero vacancy across a portfolio of ~70 properties. If you do buy there, and get a good deal, it'll be a solid return on a stable property. I have a tenant lease signed and deposit already for a houes that isn't even renovated yet LOL That deal should be ~900 on $68K (95K ARV) which historically makes it a lousy deal for fayetteville.
@Alexander Felice haha yes I agree it could have been spent on something else, but either way its coming. Yes, great place for cash flow, that's why I focus on rentals. What areas in NC are you looking for flips in Alex?
Originally posted by @Chalie Krautkramer:
@Alexander Felice haha yes I agree it could have been spent on something else, but either way its coming. Yes, great place for cash flow, that's why I focus on rentals. What areas in NC are you looking for flips in Alex?
No flips for me. Doesn't fit my approach to this business at all (passivity & cash flow).
I've been spending the last few months putting pieces in place to move towards a mid-sized apartment building. SFR has gotten too easy, need a new challenge ;)
@Robert Shortsleeves would love to share it. I'll send you a message.
@Chalie Krautkramer
Hello Chalie! I was wondering if you knew anybody that has bought an apartment in NC. I wanted to have some solid numbers for my underwriting. Thank you!
@Ryan Keenan
Hi Ryan,
Charlotte metro area is a great place to invest in right now. I am a local realtor and would be happy to talk more. Please reach out and I will be happy to help.