All Forum Posts by: Greg Fitch

Hmm I live in Chapel Hill but don't know of any. Such an attorney is likely to be on their own, not with a firm - so would have low visibility. If someone comes to mind I will pass it along. Assuming a property management firm does not manage this property? I ask because they'll know the right resources.

Ryan first welcome to BP - great to see a local here. If you want your funds to stretch further than Raleigh (which I understand) you might look at some adjacent markets that still have solid fundamentals in terms of population and income growth and employer diversification. Returns will be better than in the Triangle. I think Greenville (NC) and the Triad are good bets - and lots of smaller towns and towns ‘off the grid’ to avoid. My suspicion is that you’re more likely as a newbie to get into those markets too, I.e. the broker community is more willing to invest time in working with you, which is an important factor to consider. So you might think about building your experience and credibility this way, and see where it takes you. If you want my take on the Triad where I am focusing let me know and I am happy to share.

I think if you intend to engage the services of the real estate agent later in the transaction - in other words, there is an assumption of payment - it would be fine to reach out for comps. Otherwise you'll have a disgruntled agent on your hands and that won't help your entry into that market. On your other question, I dont think the agent will shop around your deal - he or she will have a reputation in the local marketplace to maintain. In general, I think working with a knowledgeable real estate agent can add more than subtract for where you are at.

Luke you might get a quote from ARS in Durham. They do a lot of new construction installations but may update too. They did my house six year ago. Side note, I just got a quote to replace the HVAC unit in a 1100 sf single family I own, and it was $4,500 but that doesnt include replacing the ductwork and electrical. And we didnt get into tons and seers yet so I don't know how it compares with your quotes but I suspect we're back to that $6k figure all in.

Alas that is the metro I don’t know! But BP can be a great resource in this regard.

Hi Toby -

I see you are from Thomasville. Glad you reached out. I've just purchased some townhouse apartments in Thomasville.  Are you an investor in town as well?

Greg

Anthony did you ever see this 6 unit in Thomasville? I'm active in the area so curious. Thanks, Greg

Hi Chris -

Yes Brandon Hall came to mind. You can check out his interviews on Bigger Pockets podcasts if you want to get familiar with him. I think he has his own podcast now too. I have not worked with him but his business is sort of virtual/remote so he's be comfortable working with remote investors. I would also recommend that you try to focus on specific metro areas within NC (the big three being the Triangle, Charlotte and the Triad) since there are attorneys with deep local roots in those markets. They can provide useful advice since investment upside can be so neighborhood specific. I hope things work out!

Greg

Lee welcome to BP. I encourage you to look at the Triad (Greensboro, Winston-Salem and High Point); prices are lower and returns are higher than in the Triangle where I live, and sounds like compared to Asheville too. The Triad is a large metro on the I-85 corridor which is the manufacturing spine of the Southeast so lots of manufacturing, transportation, and distribution companies are in or near the Triad. This sector mix supresses income and rent levels but the diversification is appealing as is the steady population growth. I think it is a low risk area to invest in. Happy to share more if you're interested.

Hi Max -

Yes as Chris said I am happy to help share my perspective but let us know what your criteria is including for best and worst.

Greg