Author Topic: Any landlords in Raleigh/Durham NC?  (Read 1138 times)

Fyzbo

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Any landlords in Raleigh/Durham NC?
« on: October 07, 2013, 09:44:53 AM »
I've been contemplating buying an investment property, but have some concerns with this area.  I'd like the property to be close as I can handle a lot of the work myself from experience working with my father on his properties.  His properties were on Long Island which is a VERY different market.

My concern is the high availability of inexpensive new construction for purchase and  town houses/apartment complexes for rent.   The rentals often come with great amenities like a gym, pool, tennis courts, etc. and many complexes offer incentives such as first and last month free with no security deposit.  It seems like it would make the market for single family homes and duplexes rentals much more difficult.  I'm hoping there is someone with experience in this area that could help guide me.

geekette

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Re: Any landlords in Raleigh/Durham NC?
« Reply #1 on: October 07, 2013, 10:28:29 AM »
Of limited help - we were reluctant landlords with a townhouse near NCSU.  HATED being a landlord, and was ever so glad to be rid of it.  Even though our second tenants were pretty good (stayed 17 years and paid off the mortgage for us, TYVM), I never got over being used by the first set, who were there less than a year.  It didn't help that we were living out of state at the time and using an incompetent property management company.  I still say stay out of student areas if you value your mental health.

My sis-in-law recently moved to the area (Cary) and found that townhouses and duplexes around here move pretty quickly.  She's in one half of a duplex.  The other half was vacant about a month recently for refurb, and was quickly rented.

Once he met her (and her SO), and she saw the apartment, her landlord suggested that they put in the application ASAP, as he had to take the first one who qualified, and he wanted them to get the apartment.  You can't just pick the one you like the best of those who apply.  (Second hand info, so take that for what it's worth)