All Forum Posts by: Kyle Roberts

@Annchen Knodt Thanks for the advice! Since I am a new investor I want to supplement my income with cash flow first then, once I am more established, focus on appreciation. Also, being a rookie investor I don't have any competitive advantage or exceptional rehab skills (hopefully someday soon I will!) so I don't think Durham is the right market for me. 

@Sean H. Thanks for the input. Are you investing in Durham or are there other locations in North Carolina that you prefer? I've heard from a few investors that the Triad is a better cash flow area. Have you invested in any of those areas?

Hi everyone,

I'm a new investor in Raleigh NC but looking to get more familiar with the Durham market. I'm looking to BRRRR a single family or small multi family property that is cash flows positive every month. After looking at the Raleigh market I was having trouble finding anything that will reach the 1% criteria so I decided to look into Durham.

Can any local investors answer some of the following questions? 

1. 1. What neighborhoods are up and coming? (Ie price to rent isn't too high yet)
2. 2. What neighborhoods are good to avoid due to things like crime? (Looking for a B-C type neighborhoods to invest in)
3. 3. Are there opportunities to purchase small multi family or is most of the current inventory single family homes?
   
4. 4. Would you consider Durham more of a cash flow or an appreciation market?

Thanks in advance!

@Nathan Gesner Wow that's rough! Hopefully you  an get something worked out. Anyway, I think the advice about incentives is great. I'll make sure to work that into the cost section of the SOW I have the contractor sign before the job starts.

@Steven Foster Wilson Thanks for the input. If I do end up investing in my current location I will have built up a solid team and network of investors. However, I will have moved out of state and be investing at a distance which I know presents new challenges. In your opinion what team members and other systems are critical for running a smooth investment business from out of state? I want to make sure I am looking for the right people and setting up the right systems now before I do end up moving. 

Thanks for the input @Nathan Gesner! Since I feel like I have a decent understanding of home prices and rents in my current area, as well as a growing team, I'll continue looking for a deal where I'm at now.

One thing I am worried about executing a rehab while out of state. I've heard if you aren't able to check on the rehab often it can go over budget and push the timeline out quite a bit. How would you mitigate this issue? Using a trusted general contractor and having a local investor check on the rehab for you every once in a while?

Thanks for all the advice!

Hi,

I just found out I might have to move next June - August ( approximately 7-10 months). I've been working on getting my first deal done and have spent the last few months building my network and learning the market where I currently live. If I know I am moving is it best to wait until I have relocated and try to find a property in that new market or continue trying to find a deal where I currently live? I plan to try and BRRRR the property so I understand the rehab will be something I am going to have to check on constantly while it is going on. If I did end up finding a deal, executing a BRRRR, then moving, my plan would be to hand the property over to a local property management company.

If you have any advice or have been in a similar situation I would love to hear your input.

Thanks!

Hi,

I just found out I might have to move next June - August ( approximately 7-10 months). I've been working on getting my first deal done and have spent the last few months building my network and learning the market where I currently live. If I know I am moving is it best to wait until I have relocated and try to find a property in that new market or continue trying to find a deal where I currently live? I plan to try and BRRRR the property so I understand the rehab will be something I am going to have to check on constantly while it is going on. If I did end up finding a deal, executing a BRRRR, then moving, my plan would be to hand the property over to a local property management company.

If you have any advice or have been in a similar situation I would love to hear your input.

Thanks!

Thanks for the warm welcome everyone! I look forward to getting to know and hopefully work with you all in the future. I‘ll be sure to reach out with any questions I may have. Also, please don’t hesitate to reach out to me if there is anything I can do to help you or your business.

Hello,

My name is Kyle, I am 24 years old, and an aspiring real estate investor living in Raleigh, North Carolina. A little bit about me, I grew up in Philadelphia PA, then last year moved to Raleigh to take a job as a project manager for a pharmaceutical company. I realized that the 9-5 lifestyle was not all that it was cracked up to be and decided I needed to find something else to do. After reading rich dad poor dad and looking around the internet I stumbled upon Biggerpockets. After listening to a few of the podcasts and reading articles on the site I decided that I wanted to get involved with real estate investing.

Currently, I am trying to learn as much about real estate investing as possible. If anyone has any advice on getting started and getting their first deal done I would really appreciate your input. Also, I know how critical networking is in this field so I would love to connect with anyone who thinks I could provide value to their business or anyone in general interested in sharing their investment journey. Moving forward my goal is to start buying distressed single family homes in the Raleigh-Durham area to BRRRR and start building my portfolio. As I gain more experience and build my network I want to eventually move to bigger multifamily units and possibly small apartment complexes.

Thanks for taking the time to read my post and I hope to hear from some of you soon.

-Kyle Roberts