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All Forum Posts by: Ryan Wosick

Ryan Wosick has started 3 posts and replied 14 times.

Post: North Carolina Multi Family

Ryan WosickPosted
  • Real Estate Agent
  • Raleigh, NC
  • Posts 16
  • Votes 19

Hi @Joshua Frahm,

I hope your time in Raleigh has been going well! Raleigh is a great place for rentals if you are looking for a high quality market that will likely keep appreciating long term. Cashflow in Raleigh will likely be a bit tight because the price:rent ratios are getting a little high and smaller multi-families (duplex/triplex) are really hard to come by because the market is so hot. 

If you are open to a markets that are below A/B+, don't mind investing 30-90 minutes away, and are looking for cashflow I'd recommend Fayetteville or Sanford. Fayetteville is a great market for cashflow and Sanford is really starting to grow right now with growth expected to continue. Hope this helps!

Post: Raleigh/Durham: What Strategies Are Working Best?

Ryan WosickPosted
  • Real Estate Agent
  • Raleigh, NC
  • Posts 16
  • Votes 19

What investment strategies are people having success with in the Raleigh/Durham area? Fix & Flip? Buy & Hold? BRRRR? Wholesaling? Other? Would love to hear what people have been doing and what people have been finding works

Post: Investors in Raleigh, NC

Ryan WosickPosted
  • Real Estate Agent
  • Raleigh, NC
  • Posts 16
  • Votes 19

Hi @Ray T.

As a wholesaller in the Raleigh/Durham/Fayetteville area I see a lot of deals and know this is a great place to invest and different strategies are likely to favor different areas. 

For example, in Raleigh right now I am seeing more flips rather than buy & holds simply because prices are getting relatively high in many parts of Raleigh while rents are relatively low when compared to other parts of the country (i.e. Philadelphia, D.C. etc.) But as @Ben Koval mentioned, prices do vary based off factors like schools.

For Durham I see a mix of flips and rentals with flips being more prominent for the same reason of price:rent ratio getting a little high right now.

Fayetteville is a different story. With prices still being relatively low, Fayetteville is still showing a lot of BRRRRs, flips, buy & hold and long-term rental plays.

That being said, it doesn't mean you cannot find good deals for different strategies in each of these markets. You just need to know where to find them!

Overall, Raleigh and many places within 1 hour of Raleigh are great places to invest and where you invest should depend on your investing strategy. Population growth throughout NC is on the rise, which typically correlates to long term appreciation, which is another benefit in all three markets to note.

Hope this helps! Good luck with your investing journey!

Post: BRRRRing a Medium Sized Multi-Family

Ryan WosickPosted
  • Real Estate Agent
  • Raleigh, NC
  • Posts 16
  • Votes 19

Investment Info:

Large multi-family (5+ units) buy & hold investment in Round Lake Beach.

This property was a medium sized (6 unit) multifamily property in Northern Illinois. I just finished flipping one unit and am currently working on rehabbing the other units one-by-one to BRRRR this property.

What made you interested in investing in this type of deal?

This property seems to be the perfect BRRRR for a multifamily. Each unit needs about $10k of work, but when all said and done it should refinance for $100k+ purchase price and maintain good cashflow.

How did you finance this deal?

Traditional Lending

How did you add value to the deal?

Each unit is being repaired and then having rents raised in order to increase NOI for a refinance.

Lessons learned? Challenges?

Finding good contractors that you can trust for a good price is key!