Guidance for Raleigh, NC

[Emilio Caamano]

Hello BP Community,

I have been talking with my wife about getting into the multi-family properties investments. We are working with another couple to partner, and we are doing the due diligence, to learn more about some markets.

We are looking to learn more about Raleigh, NC. And I am hoping to start creating a network of people that we can do business in the short and midterm.

We are hoping the community can help us to understand better the area of Raleigh (not sure if that will expand to the RTP region) as far as the specific neighborhoods. I would be interested in knowing which areas fall into the following categories:

Established Class A neighborhoods/areas: These are areas that typically everyone would want to live in and invest. They usually have the best school districts, low crime rate, and affluent residents.

Up and coming neighborhoods/areas: These are neighborhoods that for some reason or another are gentrifying and you see a positive change in the neighborhood, maybe its new cool restaurants coming in, or the city put in a new park, or perhaps the metro line extension is now going to help drive growth. These I would classify as neighborhoods that investing now may seem very smart in 3-5 years.

D type of neighborhoods: Here on BP you see people referring these as War Zones. These typically have transient populations, high crime rate, returns generally are the highest in the city and although the returns are good, the property you buy today for $50k will be worth $50k in 20 years. These are areas we are typically not interested in and would maybe consider doing a quick flip or wholesale.

Above all, we want to learn more about what is mostly happening in the real estate investment community and how we may be of service to you. If there is any way that you think we can work together to progress your RE Investment, please keep us in mind.

Thank you for your time,

Emilio

[Chad W.]

Emilio,

Raleigh does not have a great deal of smaller multifamily properties. If you are looking for 80+ units that is a different story.

Some resources to help your search:

https://www.greatschools.org/north-carolina/raleig...

https://www.fmrealty.com/

I am not supporting a particular company, but their site is well programmed, has a 15 minute update time from the MLS and allows you to be granular in your searches. This is for Triangle only, the Fayetteville portion is garbage.

https://www.raleighnc.gov/safety/content/Police/Ar...

This will allow you to see the crime heat maps.

If you want up and coming areas you need to expand outside of Raleigh. Areas like Clayton, Holly Springs, Fuquay-Varina, Wake Forest, portions of Garner, portions of Knightdale. Will give you better value add or growth opportunities. 

If you want war zone stuff, check the heat maps then cross reference it on the realty site.

[Juan Moreno]

Emilio, 

How big or small multifamily properties are you talking about? 1-4? or 5 or more units? 

Are you open to the greater triangle area? wake county, orange county, durham county?

As Chad mention, Raleigh doesn't have a lot of small multi family properties, you can get a few but you have to analyze the numbers to see if the clash flow works for you.

Let me know how I can be of any service to you

Juan.

[Emilio Caamano]

Thanks Juan

I was thinking +10 units. Not sure yet about the cealing. Typically, when you get +100 you start competing for the properties with larger corporations.
About greater triangle area, maybe depending on the demographics and job density.

Thanks for your feedback ;)


Originally posted by @Juan Moreno:

Emilio, 

How big or small multifamily properties are you talking about? 1-4? or 5 or more units? 

Are you open to the greater triangle area? wake county, orange county, durham county?

As Chad mention, Raleigh doesn't have a lot of small multi family properties, you can get a few but you have to analyze the numbers to see if the clash flow works for you.

Let me know how I can be of any service to you

Juan.

[Emilio Caamano]

Thanks a lot Chad.

And no, we are not looking for war zones.

Thank you for your guidance !
Emilio

Originally posted by @Chad W.:

Emilio,

Raleigh does not have a great deal of smaller multifamily properties. If you are looking for 80+ units that is a different story.

Some resources to help your search:

https://www.greatschools.org/north-carolina/raleig...

https://www.fmrealty.com/

I am not supporting a particular company, but their site is well programmed, has a 15 minute update time from the MLS and allows you to be granular in your searches. This is for Triangle only, the Fayetteville portion is garbage.

https://www.raleighnc.gov/safety/content/Police/Ar...

This will allow you to see the crime heat maps.

If you want up and coming areas you need to expand outside of Raleigh. Areas like Clayton, Holly Springs, Fuquay-Varina, Wake Forest, portions of Garner, portions of Knightdale. Will give you better value add or growth opportunities. 

If you want war zone stuff, check the heat maps then cross reference it on the realty site.

[Juan Moreno]

@Emilio Caamano

I'll check with my connections, I may have somebody with a deal if you’re interested.

Have you think about cities like Cary, Apex, Durham in Case A neighborhoods and some zones that are up and coming areas in the triangle?

[Caleb Heimsoth]

I’ll be relocating to the Raleigh area very soon and am looking to network with local investors. I currently invest out of state but always looking to learn more from others and offer what I’ve learned so far to.

Feel free to PM me if any of you want to talk more.

[Adam Schneider]

@Caleb Heimsoth Join TREIA (Triangle Real Estate Investors Association).