Need a REALTOR® for your
Raleigh area investment property?
OutofTownLandLord connects you with Raleigh’s very best property investment specialists. A licensed, experienced, dedicated REALTOR® who will deliver stunning results and stellar service. Learn about the REALTOR® and the Raleigh area market below.
Tiffany Elder, REALTOR®
Raleigh Investment Specialist
State: North Carolina
Counties: Wake, Durham, Orange, AlamanceCities and Towns: Chapel Hill, Carrboro, Durham, Raleigh, Apex, Cary, Morrisville, Hillsborough (I also cover Wake Forest, Holly Springs, and the other townships surrounding the Triangle [Raleigh-Durham-Chapel Hill area], but most of the activity I’ve seen in recent years has been concentrated closer to the city centers in the main cities listed above.)
Real Estate Experience: 12 years
Company: Paradigm Properties
About Tiffany Elder
Tiffany launched her real estate career as an investor, and is very familiar with the investing landscape in North Carolina. This has transferred over quite well into her brokerage activities, as she is able to provide her buyers and sellers with the same care and diligence that she uses during her personal investing activities. Whether you are looking for a home for your family, want to buy and hold investment properties for passive income, or rehab and resell single-family homes to increase cashflow, Tiffany is your resource to get it done.
Number-crunching is second-nature for Tiffany. As a former software engineer in the financial services industry, and a UNC MBA graduate, she is well-equipped to help you understand and navigate your real estate financing options. Her goal is to make the buying and selling process a pleasant experience for her clients. Over the years, she has translated her learnings into successful real estate investing and brokerage businesses, and she would love to work with you to promote your best interest in your real estate transactions.
These are just a few of the reasons why Tiffany has become one of the most sought-after real estate professionals in the Triangle area. Clients know that Tiffany is the right person to assist them on their journey in real estate, and to help them reach their personal home-buying, selling, and investing goals.
Tiffany is/has a(n):
- Realtor® and active real estate investor the Triangle area of North Carolina.
- North Carolina Licensed General Contractor. Licensed and insured residential and commercial builder.
- EPA and NC Certified (RRP) Lead Paint Renovator/Remodeling Professional
- NAHB Green Certified Builder/Remodeler
- Top Producing Broker (regionally ranked 100% Club Award Winner, Gold Award Winner and Silver Award Winner)
- Master of Business Administration - from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. Tiffany completed the MBA curriculum in only 3 semesters, and as a member of the Beta Gamma Sigma International Honor Society.
- Bachelor of Science in Computer Science/ Engineering - from the University of Illinois at Urbana-Champaign.
- Durham Historic Preservation Commission- Former City Council Appointee
- Former software engineer in the financial services industry.
- Past President - North Carolina Coalition of Real Estate Investors - The Coalition represents over 3000 professional real estate investors across North Carolina in supporting responsible legislation affecting the real estate investing industry.
- Former Executive Board Member / Community Outreach Chair of the Triangle Real Estate Investors Association (TREIA), a 400+ member Triangle-area non-profit organization devoted to educating both novice and seasoned investors on the ethical practice of real estate investing.
About the Raleigh Area Market
The Triangle market (Raleigh, Durham, Chapel Hill, and surrounding areas) provides investment opportunities for a broad range of investors. Cashflow properties, and those with prospects for solid appreciation are available. Although I do not encourage investors to purchase property solely based on assumed appreciation, historically, this area has fared well, even during national real estate downturns. This is due, in part, to the broad range of industries that support a solid local economy.
The Triangle is unique in that it is home to a 10+ colleges and universities within a 50 mile radius. These include Duke, the University of North Caroline at Chapel Hill, North Carolina State, and several other familiar names. Our industries are diverse, and include biotech, IT, healthcare (Duke Hospitals, the UNC Hospital systems, and the VA hospital system), and Government (Raleigh is the state capital). Between 2010 and 2015, job growth in Wake County, where Raleigh is located, was a whopping 20%. Raleigh has a strong employment base of its own, anchored by government jobs, and many residents commute to nearby Research Triangle Park, in Durham, which is home to more than 200 companies, including Cisco, IBM, and Fidelity. Durham is also home to Duke, and the Duke Hospital System, with is one of the largest employers in the state. Durham is presently undergoing a large-scale revitalization in the downtown and surrounding areas.
Raleigh, Durham and the Research Triangle Park consistently rank among the nation's best economies year after year. Unemployment remains low, education levels are higher, and per capita income is high, hence the strong real estate markets, and the solid housing demand. The area is repeatedly ranked by Forbes, US News, and other reputable sources as a desirable area for families and professionals. Recent rankings have placed it high on the list of “Best Place to Live”, “Best Cities for Young Professionals” (Forbes), “Best Big City in the Southeast” (Money), and “Best Places for Business and Careers” (Forbes), among others.
Investment Price Points in the Raleigh Area
Entry Level: $75,000 to $150,000
At present, entry level price-points for starter-home rentals are available in the $75,000 to $150,000 price range. At this price, you can find small starter-homes and townhomes as rentals. Occasional duplexes as well. Much of the local inventory consists of older homes, especially in the downtown areas, so be aware that new/newer construction will carry a premium. Above all else, LOCATION is key, regardless of property type.
Mid Level: $200,000
Mid-range rentals fall in the $200,000 price point. Many of these properties are located in desirable areas, with plenty of nearby conveniences and amenities. This price-point will often provide for a detached 3-4 bedroom home or townhome with attached garage. Similar pricing for a 2-4 unit rental property.
Upper Level: $275,000+
Upper-end and luxury rentals can be found in the $275,000+ price range. A broad range of multifamily property property is available as well. Given the wealth of industries (hospital, biotech, university/college, government, start-ups, etc…), there is quite a bit of activity in the market for executive rental homes, and for individuals and families moving to the area for work and higher-level educational opportunities. (i.e. graduate school, medical residencies, etc…) These tenants often look for more appealing housing options for their families, and the Triangle has plenty to offer for these types of tenants.
Raleigh Area Sample Properties
These recently settled homes are examples of what you can find in our market.
The sale prices are the actual sold prices, and the rents are what these types of homes could rent for in today’s market.
All of the properties in the tables were purchased by my clients. I included one of my properties as an example.
|Sample 1||Sample 2||Sample 3||Sample 4|
|Type (SF, TH, Condo, Multi)||TH||Condo||Condo||Duplex|
|Est. Sale Price||$89,750||$118,500||$150,000||$155,000|
|Est. Taxes (Monthly)||$132||$87||$231||$177|
|Est. Insurance (Monthly)||$55||$50||$0||$70|
|Est. HOA and/or Condo Fee (Monthly)||$74||$169||$324||$0|
|Est. Rent (Monthly)||$975||$1,660||$1,400||$1,500|
|Bedrooms/Full Baths/Half Baths||3/2/1||4/4/0||3/2/0||(2) 2-bed units|
|Lot Size||.03 acre||N/A||N/A||.3 acre|
Mid Level Price Points
|Sample 1||Sample 2||Sample 3|
|Type (SF, TH, Condo, Multi)||SF||SF||SF|
|Est. Sale Price||$225,000||$200,000 (Shortsale)
Undervalued by $30k+
|$260,000 (Historic Restoration)
Price includes $125k in renovations.
Owner received $50k in tax credits
|Est. Taxes (Monthly)||$247||$268||$120|
|Est. Insurance (Monthly)||$75||$50||$90|
|Est. HOA and/or Condo Fee (Monthly)||$17||$24||$0|
|Est. Rent (Monthly)||$1,500||$1,700||$2,150|
|Bedrooms/Full Baths/Half Baths||3/2/1||3/2/1||4/3/0|
|Lot Size||.3 acre||.2 acre||.2 acre|
Upper Level Price Points
|Sample 1||Sample 2||Sample 3|
|Type (SF, TH, Condo, Multi)||SF||SF||15-units (condos)
|Est. Sale Price||$375,000||$373,000||$780,000|
|Est. Taxes (Monthly)||$410||$400 (estimate),
|Est. Insurance (Monthly)||$110||$124||Incl. in HOA fee|
|Est. HOA and/or Condo Fee (Monthly)||$75||$67||$2,400|
|Est. Rent (Monthly)||$2,500||$2,700||$9,450|
(~670 per unit)
|Bedrooms/Full Baths/Half Baths||4/2/1||4/3/0||(15) 1-bed
|Lot Size||.227 acre||.183||N/A|