Raleigh Real Estate Investor Alert
July 23rd, 2008 Categories: Investing in Real Estate
Are you a seasoned real estate investor looking for a low risk property to buy? Are you someone who has been thinking about investing in real estate in the Raleigh area, but has never found a property that made sense? I just might have the solution for either of you.
There is a condo community called University Woods which is located very near North Carolina State University (NCSU). As you might expect, it is full of NCSU students looking for an off campus place to stay that is near enough to be practical. It also contains the sons and daughters of smart parents who recognize that owning the place their kids stay while attending NCSU makes much more financial sense than paying rent for them. Why finance someone else’s path to wealth when you could fund your own?
University Woods makes sense as a real estate investment in Raleigh for lots of reasons. Here are just a few.
- Very reasonable cost. There are 3 bedroom condos that average about $112,000 and 4 bedroom condos that average around $120,000.
- Easy to rent. The vacancy rate seems to be very low at University Woods. The students know about this place and seek it out. There are several low cost places to advertise a vacancy around campus.
- Many of the current listings are fully leased for one year! This is the best reason of all. Your investment should cash flow from day one.
The condos I researched, which are currently leased, have monthly rents of $1,065 to $1,290 per condo. It doesn’t get much better that that on a real estate investment under $120,000.
Here is the current inventory:
4 - 3 bedroom condos for sale between $112,500 - $117,000
5 - 4 bedroom condos for sale between $122,900 - $124,900
If you are interested, just give me a call at 919-602-7000, or send me an email and it will be my pleasure to schedule a showing for you.
