Grace, Home Owner in Saratoga, CA

Hi, I am looking for investment property in or near Raleigh (triangle area) for 400k. Growth in value for the long term is important, thank you,

Asked by Grace, Saratoga, CA Tue Feb 4, 2014

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Hi Grace,

The investment market in or area is strong. I work with many investors including a Wall St. Hedge Fund that has been investing millions of dollars in our area for the better part of 3 years now. The rental market is strong with a 4.2% increase year over year, also median home prices and sales have been increasing.

As an investment advisor, I can help you find the property that makes the most sense for your objective. It's all in the numbers when investing in real estate. I run investment reports with detailed numbers with cap rate, vacancy rate, etc...

When you are ready, please give me a call, text or email me @Ken@SellingRaleigh.com. SellingRaleigh.com. I would be happy to speak to you about your options in our market.
0 votes Thank Flag Link Sat Feb 8, 2014
Hi Grace,

You have a lot of good options here. I am a REALTOR and an investor myself. I think it is wise to work with someone who also invests her own money in real estate. It is easier to spend someone else's money than one's own, so the way I look at it is to think about whether I would invest my money in a particular project assuming that my goals were similar to yours...and they are. For most real estate decisions, location is the most important criterion. Do you want secure areas or more transitional areas that are poised to take off? If they will take off, is that in 3 yrs, 8 yrs, 15 yrs? Are you aiming for particular kinds of tenants? (Absolutely no undergrads!) How much renovation do you want to tackle?

Most definitely I would recommend leveraging your money so that you can own more properties. Again, that does depend on your situation and what you need in terms of cash flow and tax breaks.

I am from the Palo Alto/Stanford area, love Saratoga--that whole area is not affordable for investing. I assume that is why you are looking at NC which has had great press recently.

Whether you work with me or not, I'd be happy to talk with you.

Vivian Olkin, aka CrazyViv
Web Reference: http://crazyvivhomes.com
0 votes Thank Flag Link Wed Feb 5, 2014
I have a great opportunity. Please feel free to call me at 919-697-5320. My track record with investors speaks for itself. Make it a great day!
0 votes Thank Flag Link Wed Feb 5, 2014
Hi there Grace,

As the others may have suggested have you considered more than one property or perhaps a multi-unit property? I would be glad to talk further about this with you. I can also direct you to some financial people to discuss the different scenarios to get you the best ROI.

Have a great day and good luck.

Dawn Anderson
Danderskn@advantagecb.com
919-452-9379
0 votes Thank Flag Link Wed Feb 5, 2014
As suggested by otters here, have you thought about putting your $400,000 into more than one property?

But instead of paying cash for the properties, you finance them, using your cash for the downpayment??

If you think about it from appreciation point of view, by financing the properties you can leverage your money into controlling a lot more real estate (that will likely appreciate) and you're diversifying your holdings so that all of your eggs aren't in one home!

Anyway, if you would like to find out more and/or have me crunch some numbers, give me a call.

Bob

919-289-9611
0 votes Thank Flag Link Wed Feb 5, 2014
Grace...first off, my aunt lives in Plano so if you recognize my last name you may know her. There are many properties available here in Raleigh and I would probably suggest trying to be within a short commute to RTP (Research Triangle Park). Reason being is that area has one of the largest populations of white collar workers in the area and attracts people here from all over the world, many who come in on 1 or 2 year assignments and make a pretty good dollar. I am assuming by saying this you are looking to be able to rent your property to qualified renters. I like Tom's suggestion also about 2 properties and that may free you up for a larger population. For example, I currently have a couple with 2 children who are relocating here from New Jersey in April and wish to rent for a year before establishing themselves in a permanent residence. They could well afford a rental of a home in the $200K range but probably not in the $400K range.
As an FYI, you will probably require someone to manage your property for you and while I don't do property management myself , know of several companies and individuals who that is all they do, so could assist you there as well. If I can be of any personal assistance to you, please contact me via the link under my picture and I also would like to reference my website below.
Best wishes,
Ernie
Northside Realty
0 votes Thank Flag Link Wed Feb 5, 2014
Hi Grace.. areas that came off the top of my head would be the Brier Creek area between Raleigh and RTP; Morrisville; northwestern area of Raleigh. If you'll contact me personally with an email address, I could send you some examples of potential homes. Thanks
Flag Wed Feb 5, 2014
Hi Ernie, thanks for your reply. I'm actually from CA, not sure why my zip shows up as Plano with Trulia (you'd think they should at least get the zip correct in real estate biz!). I'm interested in a rental property of up to 400K but it's not all cash. I do want this to be in a decent neighborhood, what area/city would you suggest? Thanks.
Flag Wed Feb 5, 2014
Many in our area. May I suggest two at $200k each vs one at $400k for better growth potential?

I have over 20 years working with investors and own many myself
0 votes Thank Flag Link Wed Feb 5, 2014
Hi Tom, I do want the rental to be in a decent neighborhood. With 200K, what city were you thinking about? Thanks.
Flag Wed Feb 5, 2014
Great I can help you! There are several more questions I have please reach out to me at epulis@weichert.com. On a side note I worked and sold in Texas for many years. Also there is a home in Cary that just went on the market yesterday for 249,000 needs TLC but homes sell in the same neighborhood for high 300's to 700's
0 votes Thank Flag Link Wed Feb 5, 2014
Hi Grace,

What type of property are you looking for? Give me a call to discuss your needs. I'm happy to help. 919-964-0732.
0 votes Thank Flag Link Wed Feb 5, 2014
I would love to help you out! Give me a call to chat. 919-538-6477 or angie@acolerealty.com

Angie Cole
A Cole Realty
Keller Williams Preferred Realty
Top "30 Under 30" Realtor in the Country by Realtor Magazine in 2013
Featured on HGTV House Hunters
Web Reference: http://Www.acolerealty.com
0 votes Thank Flag Link Tue Feb 4, 2014
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