All Forum Posts by: Billy-Dee Greenwood

@Chris L. Make sure you take a look at county records or ask your neighbor if he made any additions on the house. Perhaps he added a room and didn’t get it permitted. Not a huge deal in the grand scheme but something you want to know as you analyze the deal. 

Hey, @Chris L. You’re certainly asking the right questions and I agree with @Annchen Knodt 100% on the market, growth and delayed financing/refi options. 
One thing I would add, make sure you try to keep any emotions out of the decision, i.e, relationship with your neighbor. As you mentioned when crunching the numbers, you’ve recognized it’s not a “deal” but that means different things to different people. 
As Annchen said, other investors won’t hesitate to pull the trigger on those numbers but doesn’t mean you should. Personally, I love this area and appreciation/long term outlook is certainly positive. You’re in a great spot having first position to buy, leverage that time (if you have it) and the relationship as many people don’t always have that opportunity.
Best of Luck!

Billy-Dee

I’ve lived and worked in the Raleigh area (RTP) for years and have seen huge growth. Many of the surrounding areas are seeing the benefits as a result. Garner (just outside of Raleigh) now has an Amazon distribution center that’s 2.6 Million sq. ft. with over 3k full-time employees. I-40 is currently doing a major expansion project. All that coupled with the Universities like Duke, UNC-Chapel Hill and NCST make the RTP area a very competitive market.
There are very few multi-families opportunities and the single-family market has little inventory and most of the decent properties stay on the market less than a week. There hasn’t been much of a slow down in the Raleigh area and during pandemic. 
In reviewing your company’s portfolio, seems like you’re crushing it. I wish you continued success and growth in the future.

@Brandon Sturgill - Excellent point!