Alexandria, VA · Member since 2017 · 8 posts · 0 votes
I bought my first townhouse last year in Northern Virginia. The market up here is pretty hot and it is hard to find an affordable multi-family commercial property that will also meet the 50% and 2% rule. I am interested in investing in Raleigh, NC because it is a 4.5 drive away (might be too far) and I have noticed that properties in Raleigh might meet my criteria. I am interested in a 6-20 unit complex that would cash flow around $200 per unit in a C+ or B neighborhood. I plan to put 20% down myself. Does anyone have some suggestions on zip codes, property management, lenders, commercial brokers, or suggestions if I should partner with an experienced local investor? I appreciate your feedback.
I am a commercial broker and property manager in this market, and I know this market intimately.
This market is also hot, but you'll likely get more for your money here with Better metrics such as cash flow, irr, and coc. Speculation is also on a positive trajectory, but for how long, who knows? Certain pockets continue to climb and others are slowing down, but this market historically is more stable than many others in the U.S.
If you have time for a quick chat, I can share some additional info you would probably find extremely valuable before proceeding that could influence your investment strategy.
I am a commercial broker and property manager in this market, and I know this market intimately.
This market is also hot, but you'll likely get more for your money here with Better metrics such as cash flow, irr, and coc. Speculation is also on a positive trajectory, but for how long, who knows? Certain pockets continue to climb and others are slowing down, but this market historically is more stable than many others in the U.S.
If you have time for a quick chat, I can share some additional info you would probably find extremely valuable before proceeding that could influence your investment strategy.
Jonathan,
I would be very interested, also, in any insights you have about the area. I just moved here and am looking to get active in the Durham area. I'm currently researching the local market and looking for any information local experts are willing to share. I'd like to make my first purchase in the next couple months but want fully understand the area first.
Thanks,
Aaron Aho
I'm a property manager on the residential side and a Raleigh native. We manage both single and multi family homes. I would also be happy to provide insight into investment opportunities and the area in general. Def some different factors to consider when looking at Wake vs Durham county.
What does the average C+ or B class property that is a 6 unit multi-family cost/cash flow in Raleigh vs. Durham? What would the average CAP rates typically be for that criteria?
I focus strictly on investment and commercial properties in the Durham area and am happy to help you with your investment needs. I have another client that lives in VA and invests in Durham as well. I'd be happy to help you with your search needs. Please IM me and we can discuss the current off market opportunities that are out there.
I'm seeing 7% caps right now for the types of properties that you are interested in throughout the Durham market. If you are willing to go to a low C class property I'm finding opportunities to increase your cash flows with below market rate rents.
Hi Nick, Feel free to PM me with specific questions. Most people I work with are looking for a 10 Cap or higher in Raleigh, but it really is investor by investor. Some are happy with less, some need more. We get mostly SFR's and multifamilies in our marketing funnel, but we do come across larger commercial residential opportunities from time to time.