Originally posted by @Greg Fitch:
Investors should be leary of one employer towns like Fayetteville. If the military decides to relocate all or some of its troops the apartment market will really suffer. But the specific question is about a flip - and again I don’t think single family house prices appreciate. So Greensboro gets my vote on both counts.
If the military decides to relocate? I'm curious if you realize how instrumental Ft. Bragg is in the military community? It is the LARGEST military installation in the WORLD by population and top five by size. It plays host to US Army Special Operations Command, 82nd Airborne, and two Airfields. Basically, it would be more likely that the entire city of Greensboro relocated than Ft Bragg.
I agree with @Alexander Felice, Fayetteville is best utilized for buy and hold strategies. We have a ton of investors utilizing BRRR and Delayed Financing to multiply their SFH portfolios. I believe the MFH market deals are few and far apart. Appreciation is minimal here, however, we are seeing increases in home values in Raleigh, which is forcing home buyers further and further away from that market. Fix and Flips can be excellent in this market, just have to keep in mind that you Rehab should stay consistent with the market.
