Originally posted by @Victor Olowu:
Thanks a lot of the tips @Matt Rothwell. What kind of cap rates should I be expecting in the Durham and Chapel HIll areas? And is living in really Durham feasible, or would it be a crazy commute to CH from there? It doesn't look too far and was an easy drive when I visited, but I came in late at night so there was no traffic then.
Hi, I live in Durham. yes, Durham is right next to Chapel Hill via 15-501/40. It's a hop, skip and a jump. I lived in the DC area and Philly for a long time - the "traffic" in Durham/Chapel Hill is laughable (it depends on your perspective, I guess) I wouldn't be concerned about traffic. The commute isn't crazy.
I think Chapel Hill is overpriced, but you can some gems in Durham, you'll have to rehab any multi-family units you find (at least I found one that needs work).
