Wake County Apartment Association

As we do the first Thursday of every month, members and guests of the Wake County Apartment Association (WCAA) gathered last night at the Golden Coral on Glenwood Ave. to network, learn and share some laughs. This meeting marked the 29th anniversary of the group which began in March of 1981 (the year I was born).

As the current leader of the group, I was honored that Mr. John Schrader, the original founder, agreed to speak last night. John shared a lot of great tips for those who already manage apartments and also provided some inspiration for those looking to get started. For anyone wanting to learn more about investing in real estate or managing apartments, I encourage you to visit the WCAA web site and check out one of our upcoming meetings.

Housing Shortage at NCCU

North Carolina Central University, located just south of Downtown Durham, has been in the process of redeveloping and adding on-campus housing over the past couple of years. However, the process has left the campus with a severe shortage of housing for students. As this article from the Herald Sun states, almost all upper classmen are being forced to live off campus.

While this might not be ideal for the students or the administration, this certainly offers apartment owners in the surrounding neighborhood an opportunity to capture some well qualified tenants. And it doesn't look like the problem is going to be fixed anytime soon. Current building timelines estimate there could be a shortage for another 7 years or more.