Fuquay Varina - Investment Rental Single Family

[Account Closed]

Hello All,

I introduce myself as a new member of the Raleigh real estate forum. I have been finding all of your posts helpful, thank you.

I'm looking to get into real estate investing for rental property in and around Fuquay Varina area. The intention is to have this property obtained in a good rental area where it can go quickly on rent. 

I have been to this area this Saturday, and I was not so convinced with properties spread far apart from one community to other and also not so near to downtown area kind of, do you know what is the driving factor for the development there and why people are renting there instead of buying them? Trying to understand the rental philosophy.

Thanks for all your help. Appreciated.

[Chris Martin]

Originally posted by @Account Closed:

Hello All,

I introduce myself as a new member of the Raleigh real estate forum. I have been finding all of your posts helpful, thank you.

I'm looking to get into real estate investing for rental property in and around Fuquay Varina area. The intention is to have this property obtained in a good rental area where it can go quickly on rent. 

I have been to this area this Saturday, and I was not so convinced with properties spread far apart from one community to other and also not so near to downtown area kind of, do you know what is the driving factor for the development there and why people are renting there instead of buying them? Trying to understand the rental philosophy.

Thanks for all your help. Appreciated.

Fuquay Varina is playing the expansion game just like Holly Springs and other growing towns have played. They are all hungry for tax revenue. The "downtown" area is zoned commercial so you're unlikely to see mixed use development like you would see in downtown Raleigh where there was a push several years ago to develop high rise residential property to revitalize the inner city. 

The information in this link, , summarizes the Fuquay plan to capitalize on future city tax revenue by expanding the ETJ (potential city limits) from 8,739 acres to 22,049 acres. When this happens, you will see urban sprawl like Holly Springs saw 5 or so years ago. All those development signs along NC 42... all that area will be Fuquay Varina with city services and the taxes that go with it. F-V will surround Kennebec and consume all the land in southeast Wake county. 

The driving factor? Migration. I don't see that the rental density is much different than other Wake county areas. Development is along the lines of the 'big picture' plan (see ) so, much like Holly Springs, the area will see residential developments from F-V proper to the Harnett and Johnston county lines and beyond. 

The winners are land owners planning to convert their farm (and other undeveloped) land into development tracts. The losers are established neighborhoods that (collectively by property owners) decide they want to become part of F-V. Those areas will see taxes more than double with no measurable benefit in city services. My Company has multiple existing rental properties impacted and we will be voting 'no' to any proposal involving annexation.