James Jordan Wilkinson Triad Realty
States: North Carolina
Counties: Alamance, Guilford, Forsyth, Randolph, Rockingham
Cities and Towns: Greensboro, High Point, Kernersville, Whitsett, Brown Summit, Pleasant Garden, Randleman, Asheboro, Colfax, McCleansville
Licensed Since: 2004 | NC License # 221472
About James Jordan
Our family has been involved with investment real estate ownership since the 1970's. We own properties mostly in the Triangle area of North Carolina, and I am an active REALTOR in the Triad area since 2004. I came up through the well-respected Triad Real Estate School and the original Coldwell Banker, Triad, Realtors. I served as a CARTUS Corporate relocation agent, assisting a wide variety of corporate clients as well as my own local transactions. During these years, I have personally renovated two homes, including electrical, plumbing, HVAC, and other systems as well as cosmetic work and cabinetry installation. I am described as a natural “buyer's agent” because of my propensity to quickly see needed repairs, potential money pits, hidden problems, and ongoing ownership costs. I look at every home as an investment, as a “deal.” When investors work with me, they understand the impact and return on unavoidable bottom line expenses specific to their prospective investment. If you are looking for truthful consultation without the fluff then you will enjoy having me work for you.
Market Overview
The Triad area is a great place for residential real estate investing because of the expansive diversity of attractive locations and home types over a large area. With preparation and patience it is possible to make very solid buy and hold purchases and to find long term tenants. The rental market is increasing, but there is some pressure on single family rents due to the construction of multiple corporate owned apartment complexes with upscale amenities. In my experience however many families would still choose a well-maintained single family home over multi-housing units any day. Over time our area is acquiring a burgeoning logistics industry, with multiple distribution centers under construction. Employment has been strong and I have a positive outlook for future stability due to the wide range of industry and entrepreneurship along with many new roads and water/sewer expansion projects.
Investment Price Points
I have worked with investors who deal in <$75k properties, and the associated costs and quick decline of these properties create short and long term expenses that more than offset the low purchase price. This lower range has become a cash rental market, and many of these old homes are being replaced. Investors should expect to find the price of even a habitable 2 bedroom condominium to exceed $110k. In general investors can expect to find properties in need of cosmetic rehabilitation, and often aging HVAC systems, that offer a good potential between $135-200k or so. I believe this is the sweet spot for single family residential investors, but there are many potential hazards to look for, such as aging and neglected septic systems. In my markets many of these homes are being purchased with cash, and are sought after by i-buyers as well, so preparation and decisiveness is key. Investors can expect a good rate of return in the price range up to 275k, but greatly depending upon the location. Beyond that price range the homes are very much in urgent demand and are quite easy to sell as owner occupied for top prices.
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