All Forum Posts by: Sophia Griffies

Hey Albert! Have you talked to a commercial realtor yet? Please PM me if you would like a recommendation.

Hi Natalie! I would start by building your team. Connect with a good realtor who is accustomed to working with out of state investors. Visit the area and have the realtor show you their recommended neighborhoods and tell you what median rents are there, what costs you can expect, any rental restrictions, etc. Have the realtor recommend property managers for you to interview. Talk to the property manager before you make any offers to get their views on the property and its rentability.  And always do your own research so you can ask the right questions and give your team direction so they can best help you meet your investment goals. Good luck!

I second Steve Lowry. Also Travis Barkley. Both are in the Triangle.

Hey Mel, I don’t have a crystal ball, but future appreciation of 3-6% would not surprise me at all given high demand and the influx of people and businesses to the Raleigh/Durham area.

Hi Phuong, You might want to consider Hillsborough. Charming, growing town near Chapel Hill. Feel free to let me know if you have any questions.

Gina Amaxopulos at Allen Tate Insurance

Hi Vikram,

Congrats for getting started with your rental! I recommend Elizabeth Boyette at Jackson Law for your LLC questions.

Sophia 

Hey Chow,

Some communities do have rental restrictions.  It varies by community/builder.  Given the intense seller's market here and increasing construction costs, $400,000's for a new, larger, well located 3 bedroom townhome is not out of line.  $2.2 million rent is on the higher side, but not unreasonable. Feel free to DM me.  

Sophia

Hi Chow,

Yes, It’s possible that if you wait until the summer, prices will be even higher.  If you want to buy now and can get a property, you need to make sure the numbers work for you and that you’re taking into account all your expenses. The BP calculator is a great resource.

Hi Ben,

You can’t go wrong with either the Raleigh/Triangle area or Wilmington. it depends on what you are looking for… a larger city within driving distance of the beach (and mountains) or a beach town. Raleigh has plenty of restaurants and breweries (as do neighboring towns such as Durham), as well as greenways and hiking. You should probably come down and take a look!

Sophia