All Forum Posts by: Ramez Qubain

Haven't had time to look at details, but personally, I think that price is excessive for that neighborhood. Yes, it is close to downtown, but that part of town is at best "up and coming". There is probably a reason why it has been sitting on the market since mid-April.... given the scarcity of quads in Raleigh, I would expect this to last at most a few days, even if slightly overpriced.

Thanks Andrew. I absolutely agree with you, I am going to offer a lower price but not sure how much until I do the analysis. In your opinion what is it worth?

0 Votes

Raleigh, North Carolina

Hi i need your help in analyzing this property. as you might know, Raleigh doesn't have many small multifamily homes due to zoning changes in the 80s and 90s. however i have come across this newly renovated Quad. please see this link and see attached the analysis. https://www.biggerpockets.com/... https://www.zillow.com/homedet...

my biggest concern, is the rental income. the advert says 1,500 per unit per month, however when i use the rental calculator in bigger pocket tools i get a much lower number. another concern is, there are no comps in the area to assess the value of the property since there are not too many multi family homes in the area.

also how can i assess the income if i turn it into a short term rental?

once i fine tune the above numbers, i am then able to decide on how much the home is worth.

1 Vote

Raleigh, North Carolina

Quote from @Mitch Miller:

@Jennifer Sovia Raleigh is a great place to invest and is one of the hottest markets. Raleigh however, is not a buy anything and make money place though. I don't know of any market that is that way so you will have to do some research so if that is moderate or advanced then I would agree with you. Raleigh has grown a lot in the last few years and had better than average growth even before the shutdowns. Most people agree that the growth will continue as more people, jobs, and companies move in every day. Apple, Facebook, Microsoft and many other companies are moving in and giving people a lot of hope for the future. While prices are high, people out west and northeast still are surprised at how affordable the area still is. Like most things its relative. There are plenty of areas that you can find homes that need repair. Really the further out you go the more you will find. Areas south and south east (Zipcode 27610) of Raleigh have the most left to run but also the least desirable followed by east (Knightdale, Wendell, Zebulon) and north east (Millbrook, and capital area). Areas like Fuquay, Holly Springs, Apex, Garner Clayton are all good areas too but are seeing much more new builds but you will still find properties that need rehabbed. Raleigh is really an appreciation play, especially now that the prices have gone up so I would make sure that aligns with your goals. If you want cashflow the secondary markets outside of raleigh are where you want to look.

Hope this helps.

Hi Mitch, seems you know the market very well. i bought a new build in Durham, near southpoint and made tons of equity and am currently renting with positive cash flow. I am trying to replicate this and it seems soo difficult to do. I can't seem to find anything that breaks even let alone BRRRR. would love to know your buy box, i don't mind rehabbing, i have a team of contractors there.

thanks,

2 Votes

Raleigh, North Carolina

Thanks Andrew, I figured that there is no such thing. What software do you use in your business and are you happy with them?

0 Votes

Hi Guys,

I am trying to build a business around my BRRRR strategy and I am trying to figure out what software solution/solutions would cover the whole business cycle? Starting from lead generation to acquisition, rehabbing, renting and financial reporting.

I have come across the following software; some are redundant and overlap with one another such as:

Batchleads / REIPro / InvestorFuse/ FlipperForce / Quicken

Sol not sure if there is one or two software that can cover the end-to-end process of BRRRR

Thank you

0 Votes

Hi Tre

i too am looking for Wholesalers in Raleigh, have you had any luck. Where does one find them. Thought there are a lot of them but can’t find them.

Quote from @Tre Burris:

I'm a new investor in the Raleigh area and am looking for a great wholesaler to connect with. My focus is mainly on MFR but I'm open to SF deals that are obvious options for the BRRRR model.

Any recommendations would be appreciated. Let’s connect!

Thank you!

0 Votes

Raleigh, North Carolina

great question i wish someone can answer.

0 Votes

@Joe Odell

So funny, i just had the same epiphany last night and decided i wanted to explore the commercial real estate instead of the residential. I am still learning more on why i should make the jump, but my initial assumptions are as follows. Maybe commercial real estate hasn't appreciated at the same rate as residential has in the last two years, i.e. there might be more upside in commercial than residential. the other reason, would be that my capital deployment and time are better suited for bigger assets while still being in the average price. for example, i might be willing to invest 400K as a down payment, the 400k would get me a 2 million home, which is way above the 450k average home in my area, while 2 million might be the average office space which is much easier to find, buy, rent and then sell vs the 2 million home.

what do you guys think, am i thinking correctly about the justification between residential vs commercial?

1 Vote

All Forum Posts by: Ramez Qubain

Ramez Qubain has started 11 posts and replied 44 times.

Post: Please help in analyzing a Quaruplex in Raleigh for STR and LTR

Post: New build modern multi-family development

Post: Please help in analyzing a Quaruplex in Raleigh for STR and LTR

Post: Please help in analyzing a Quaruplex in Raleigh for STR and LTR

Post: Raleigh for BRRR, beginner investor

Post: What software solutions for end-to-end BRRRR business?

Post: What software solutions for end-to-end BRRRR business?

Post: Wholesalers in Raleigh Durham (the Research Triangle)

Post: Pipedrive and Bitrix24

Post: New to BP and Commercial Investing (NNN)