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Welcome to Target Market Insights. A podcast to help real estate investors navigate neighborhoods through the lens of local experts. In each episode, we speak to local specialists to learn about their market, useful tips, and the latest trends and developments. This show is designed to help you with the insights you need to win your target market.

Mar 27, 2018

Nathan Tabor has operated more than two-dozen businesses since 1999, grossing over $150 million in sales. He was introduced to real estate when a man came to his used car lot with a building he needed to sell. Since then Nathan has successfully flipped 26 properties in 9 years, grossing over $52 million in sales and has consulted on deals worth over $200 million. He’s had amazing successes and epic failures, and is the author of "How to Find, Finance, Fix and Flip Apartments." Today, he shares his take on the Winston-Salem market and his best due diligence tips when acquiring apartments.

Key Market Insights

  • Ran a “buy here, pay here” car lot when a guy walked in and said he had an 18-unit complex to sell
  • After having multiple issues securing financing was told to meet with someone who gentleman and received 100% financing
  • Had $500k in debt, sold it for $850k and netted $253k in profits
  • Second seller saw him doing the work and offered to sell his property and paid the same price per unit
  • Second deal had a setback issue that ended up costing $150k more than planned
  • Focus market is Winston-Salem and Greensboro
  • 11th year investing in real estate and has seen 4 peaks and valleys
  • Sees big city investors coming into Winston-Salem
  • Gets almost sidelined in a timeframe like this when properties that should sell for $15k/door start selling for $30k-$35k/door
  • If market is maxed out at $900/mo for rent, you’re not getting more than that no matter what you do to the unit.
  • Focus on Class C or D+ properties with high issues, runs his number backwards, like a flip property
  • Cap rate determines value for the area based on what has been sold
  • In Winston-Salem properties have sold at 2%-3% cap rate, and others that have sold at a 24% cap rate
  • Look at Loopnet, CoStar or brokerage firm to help determine cap rate
  • Cap Rate = Net Operating Income / Sales Price
  • Most properties are in 7.5-9% cap rate
  • Found opportunities in rural areas, 15 minutes from downtown, off MLK,
  • Seeking an owner in distress or ready to exit
  • Pulls police records, city complaints, housing authority from last two years and looks for patterns
  • 80% of people don’t have a business plan for their business

Bull’s Eye Tips:

Winning Your Market: The answer is no until you ask

Tracking Market Changes: Educate – read, talk to building inspectors and leverage a team

Daily Habit: Reads Proverbs daily



How to Find, Finance, Fix and Flip Apartments by Nathan Tabor   

Best Business Books:

21 Irrefutable Laws of Leadership by John Maxwell 


Digital Resources

Loan Calculator Pro 


Tweet This:

"Business is simply how much you can make versus how much you can lose"

"You can not rely on someone else’s information – go direct and ask the source"

"You make your money whether you hold it or flip it"

"Rent rolls are worth nothing, get bank statements"


Places to Grab a Bite in Winston-Salem:

Prissy Polly’s

Clark’s BBQ 


Connect with Nathan:


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Midwest Real Estate Networking Summit

Best Ever Show 


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