New Out Of State Investor Looking into Raleigh

[Nick Daniel]

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.

[Account Closed]

Hi Nick, 

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. 

Best Regards

Jonathan