@Chris Hall is spot on. Raleigh is a flip market primarily. Cash flow rentals are harder and harder to come by. Many of the secondary Markets are becoming their own primary markets such as Durham. There are other markets within a hour drive of Raleigh that are lower price points and better cash flow such as fayetteville. If you get some good wholesalers that send you deals you will be fine. I have a couple that feed me deals every week.
Originally posted by @Chris Hall:
@Michael Sherwood Nice to see a fellow western new yorker looking to invest in Raleigh (I'm originally from Jamestown, NY but live in here in Raleigh now). @Dawn Brenengen is the best. she can fill you in far more than I can as she's helped me on multiple deals now.
Basically my two cents: cash flow is tougher around here as rents are usually around the .7% - .8% rule (impossible to find a "1% rule" without serious rehab anymore). Appreciation is solid as the economy and jobs are still expanding (so far so good, even w covid). Expansion is forcing people to the "burbs" so expansion is happening in smaller towns outside of raleigh (garner, apex, holly springs, wendell, knightdale, wake forest, rolesville, etc). Small multi-familys (2-4 units) are really hard to come by here so SFR's dominate. Its a great market, but I would say flippers have an edge. Would be interesting if some of the larger multifamily folks could chime in on that side of things.
