All Forum Posts by: Samuel Lynch

So I decided against the first couple properties evaluated but I'm still looking. Mainly just stuff that's listed online.

@Account Closed, Thank you, that does help. I didn't even think about Trulia's crime maps, great idea. The things that perked my ears when I was searching for multi-family properties to possibly buy was that the units already has tenants with year long leases, the house is on a cul-de-sac, in an HOA neighborhood where the HOA takes care of the lawn out front and the exterior of the house, and it is close to Rt 17 (the main artery through Wilmington). That was what was on the surface, so now I'm trying to run the numbers as accurately as possible (before talking to a broker or owner), and get the down and dirty of the market. So thank you for the insight and reference to a reliable RE agent/broker/manager. I will let you know where I go from here.

Thank you both for reaching out and I apologize for the delay in response. We are 13 hour time difference than the east coast. I am not too familiar with the areas in Wilmington other than when I would come down from Onslow County to hang out or pass through. The property I am looking at is a duplex near Princess Pl Drive and North Kerr Ave in an HOA neighborhood. Again, I am not too familiar with that area and if I were to take the next step of reaching out, this would be my first deal.

So my questions are:

What areas would you stay away from due to higher crime, lower income, or just had bad experiences in for one reason or another?

Are duplex's and other multi-family rentals in Wilmington generally a good investment? I know that's kind of a loaded question but I'm trying to see if you have seen a decent demand for people wanting to rent a place that is attached to another persons home.

Are 2 bedroom/2 bath the norm for multi-family units in the area? Is that what a lot of people want when moving in and out of Wilmington or are you seeing people lean more towards 3/2? 

I am assuming a lot of those areas are rented out to college students attending UNCW, so what are some issues you have seen with those tenants? Repairs, costs, any other unforeseen costs?

Gentlemen, again thank you for reaching out and being willing to help out a newbie become more familiar with the process. Like I said in the original post, I'd be willing to help out however I can from afar. My only experience is in the Hubert area and I am still learning the ropes there, however, I do have some contacts for certain skills in that area. Just let me know how I can help. Thank you.

Good day everyone, are there any investors in the Wilmington, NC area who would be willing answer a few questions about the market? I believe I found a good deal (after a quick analysis) but I'm stationed overseas so google searches and forum discussions are what I have for resources and I'm trying to get some good insight on that area for this particular deal. I'd be willing to help out in any way I can. Thank you in advance.

Kerry Baird thank for the info. I never thought about talking to the lawyer or title agency. That's an awesome idea.

Finding a good property manager is key. I'm in the military as well stationed in Okinawa, Japan. I only have one property but am going to be getting more. The biggest stress relief has been having a property manager who knows what they are doing. Listen to podcast #163. Bill Allen, who commented above, has a lot of great points.

By the way, if you're interested in getting into the onslow county area, I have a good property management company I've been using for the last year in that area.

Welcome to BP. I'm new as well. Good luck and stay positive.

Hope this finds everyone doing well. This question comes from my ignorance to the subjects and my overall ignorance to real estate investing. I am trying to educate myself as much as possible so that is why I am asking these questions.

1) How do you find the right network of people who you can buy a property from in order to make it a good rental income property? Of course, i could keep searching the typical websites like zillow and trulia and such but I am looking to connect with people who I could do business with. 

2) What are some key factors to look for when conducting market research in a certain area? I am currently stationed with the military in Okinawa, Japan so my research is limited to the internet right now. I would like to stick to the area around Camp Lejeune, NC as that is where I already own a property (my former primary residence when i was stationed there.

Any advice or links to information is greatly appreciated. Of course, as I learn more and get the ball rolling and buy some rental properties, I may be able to offer something in the future in return. I am all about offering something in return, unfortunately, my skills right now are not transferable to the civilian world. Thank you in advance.

Respectfully,

Sam

Priti Donnelly thank you for reaching out. That may be an option down the road but right now I'm get started in a market I know. It does sound enticing once I get a little more established back in the states. Again, thank you for reaching out and I will seriously consider it down the road.