Things to Remember When Buying Investment Properties in the Triangle

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My experience as a real estate investor has taught me a lot. Here are some of my observations that will help you as you make your investment decisions:

50% of Durham rents; the rents range from $275 to $2000 per month, depending on the rental unit, location, and number of renters.
Durham values are rising. The city is going through a renaissance. In the transitional areas that are changing quickly, prices are jumping and houses move quickly.
Durham is a hotspot for young professionals – more than Raleigh.
There are many problem areas in Durham – but there are some amazing homes. The rents are low, but so are the prices.
The City of Durham is committed to making Durham a safe and attractive place to live. They are putting money into the city, and are partnering with private investors who are doing the same. There is a city wide effort that has resulted in a block by block reduction of crime.
Chapel Hill/Carrboro is an ideal area for long term investment. University towns tend to be very stable, even in a bad economy. Rents are stable, and renters easy to find.
Public schools in Carrboro and Chapel Hill make it an attractive place for families to rent. UNC Chapel Hill naturally appeals to university students and faculty. Carrboro has become a sort of mecca to those who appreciate its artsy, funky flavor.
Hillsborough and Orange County are less expensive than Carrboro or Chapel Hill. The public schools are very good so there are always a lot of Duke and UNC staff, faculty and students who live there.
Both UNC Hospital and Duke Hospital have huge numbers of staff who can’t afford Chapel Hill/Carrboro. They live primarily in Orange and Durham counties.

Every area has people who rent. There will always be renters. The key is finding a location and/or house that is desirable enough to keep long-term tenants. Some of my best tenants are Section 8.

Whether you are already an investor, or this is your first real estate investment, I’d love to help you find the property that is right for you. Contact me today!