B-Class Rental Areas near Raleigh, NC

[Christopher Joseph]

Hey Everyone!

I'm looking to make a purchase decision within the next 2 months on my second property using the live-in flip strategy in the Raleigh area. Ultimately, I'm looking for a home I can invest ~$20k in renovations in a class B neighborhood (great schools, jobs, etc.) but also have some potential for a long-term appreciation bump from planning and improvements the city might be considering. I'm specifically targeting homes in the $230-270k region. Just using Zillow rentals to reverse engineer potential areas (i.e. SFH, at least 3/2, great school rating, at least $2,000 in rent) I'm showing Apex, Cary, Morrisville, Durham, and maybe some properties in the Wake Forest area as good candidate areas.

Does anyone have any thoughts on this? Is it maybe worth cheating out to Holly Springs or Fuquay-Varina as well? Any thoughts or pointers are appreciated!

[Chris Carrigan]

Not really, people have more equity these days than they did in 2008 so there won't be as many foreclosures.  Mortgage rates are starting to tick up on the fear of inflation, but there is so much pent up demand right now that buying will continue and prices will keep going up.  Of course everything is cyclical so eventually we will see a downturn, but the Triangle market has historically weathered the downturns better than most.