All Forum Posts by: Tiffany Alexy

 I was in your same shoes about 5-6 years ago.  I owned a couple units at University Woods, which are a similar lay out and set up as the units at Lake Park.  I ended up selling both my units and did a 1031 exchange into a townhome and office building.  Managing the by-the-room rentals does take up a lot of time.  

There's no right or wrong answer to this.  A lot of it will depend on your long term financial goals, as well as personal goals.  

I'm not familiar with the San Antonio market, can only speak to the Raleigh/Triangle area market but here's my take: 

1) I'm currently invested in Raleigh, Cary, Smithfield, Selma, and Lake Lure NC
2) I would consider other cities in NC, but not in TX just due to proximity.  
2) SFH vs multi... there are a lot of factors, so depends on how you define "less headache". Speaking in generalizations as it really depends on the deal, but SFHs won't have as much cash flow as a multi typically. You may have more options on the back end as far as resale, though, because you can sell it to an owner occupant OR investor. As far as a multi, personally if all things were equal I'd go for the multi for a few reasons. 1) Added diversification.. if one tenant doesn't pay, you can still cover property expenses with the other tenants 2) Shared capex... typically, one roof and one property to maintain but multiple streams of income 3) Less vacancy.. usually multi's rent for lower, for example one of mine is the sweet spot of 3 bedrooms for $1300. These are usually easier to fill because it's perceived as "better value" versus a 3 bed SFH that is renting for $1800-$2000. There are going to be more people who can afford $1300 so vacancy is less of an issue.
3) This is a broad question, and it really depends on so many factors.  As a newbie, I would probably start with one property, and see how that goes.  

Welcome @Yiyi Zhang! I've lived in the Triangle my whole life, and have been investing here since 2011.  I am an agent and mortgage broker also.  It's a great area to live and invest.  Just sent you a connection request, hope to meet you soon! 

Hey Ryan,

Your post caught my eye because I feel like I've been in this situation numerous times, lol.  I wouldn't sell.  As others have said, your 3% interest rate is an asset making you money.  Can you rent out your office space? Just go bare bones for a year? 

What's your car loan rate at? Just curious if you should be aggressively paying that down or just paying the minimums and using the delta toward living expenses/your business.

I would do a HELOC as well. If you have an investment portfolio (stocks, bonds, mutual funds etc), depending on the amount you could also look into a securities based loan. I have used both to fund cash flow needs, invest in more real estate etc. It acts similar to margin but it's not margin, so you can't buy more stocks with it (that's super risky anyway).

You are welcome to PM me! I'm an agent as well, and happy to brainstorm more ways to make it work. 

Hi @Winnie Mak,

Do you mean RTP - Research Triangle Park? 

Yes, you are correct, there are some communities that have impose investor/rental restrictions. Some HOAs don't allow rentals at all, while others have % caps. Some only allow 12 month rentals, while others allow 30+ day rentals, etc. Every HOA is different and there really isn't a way to "filter" for that with an MLS search but typically you can ask the seller/listing agent if its not disclosed in the listing paperwork to get an initial feel. Depending on their answer, I would recommend doing a deeper dive into the HOA bylaws which will give you a clear picture on any rental restrictions imposed.

Hi @Randy Tran,

Welcome to Raleigh.  What brings you to the area? Are you relocating here eventually or plan to build an out-of-state portfolio? What do you hope to accomplish through real estate?

Sorry for the twenty questions! Happy to provide some guidance on the market here, I've been investing in the Triangle area since 2011... but would be helpful to know your goals first :) 

I have an STR in Wilmington NC I'm considering selling. Feel free to message me if you'd like more info.

Hey @Ross M.! 

Somehow I missed this original post but welcome. I'm in Raleigh, and I own rentals all over NC. Mix of long and short term, residential and commercial. STR in Lake Lure as well as an STR in Wilmington. Are you still looking to acquire an STR at the coast? I've considered selling mine, so let me know if you're interested and I can send you more details.

Every agent is going to say they're investor friendly lol.. because why not, it's another client!? 

To stand out, highlight your own investing experience.  Even better if you or your family members own investment properties.  There's no better substitute for experience IMO.  Know the lingo, know what they're looking for, know how to walk them through analyzing an investment property.  Know the regulations of the area (for example are STRs allowed etc).

You've gotten some great info here! Cash flow is pretty much non existent in Raleigh.  Are you open to other submarkets? I've found some decent opportunities in Johnston County. I've found that while the two (cash flow and appreciation) are not mutually exclusive per se, usually a property leans in favor of one or the other.  Raleigh is a better appreciation play at this point (though I would caution with a long time horizon).  Gone are the days of 19% YoY growth, at least for now.

Also, 10% down is going to make it even tougher.  Do you already have a lender lined up that will do that? The lowest I've seen is 15% and that's a rarity.