I just started learning real estate investment. My goal is to buy and hold for cash flow. And hopefully one day I will be able to achieve financial independence.
I'm currently living in Raleigh. I found it's pretty hard to achieve even 1% rule of rental properties. Because of that, I started looking into flips as well.I'm looking for realtors who know NC well and I also want to know more investors who have already done what I want to do.
Thank you so much.
Hey @Karen Wu I've come across a couple of real estate agents who know this lovely area of NC well. I met a couple of them through TREIA meetings and one while shopping for a primary residence.
However, I don't believe I can post their info here or I may catch a beat down from the mods! However, I will PM you their contact numbers & email so you can use them accordingly.
Hey Michael. I'm in the same position as Karen and I would appreciate the same info. Thanks.
Karen, I'm more than happy to get together and share notes if you're interested. I've been doing a lot of studying and decided to buy & hold in this area while my best friend is selling his first flip right now. I've also attended my first TREIA meeting last week and met a lot of helpful people there.
Shoot me a PM or email if you're interested in getting together.
Welcome to BP Karen and Mark.
It's hard to find property following the 2% rule in Cary. In a seller's market like we are in, it is a lot harder. I've been at 1.5% with condos... but I would generally not recommend that kind of investment as B/H.
You can find 2% rule properties here in Wake county, but it is a lot more difficult now that a few years ago. Example: purchase 3/1.5 SFR for $37K, add $8K in repairs/improvements (~$45K basis), and rent for $850-$900. That was in 2011 on a property off Sanderford Rd in SE Raleigh. Most will have some impairment that needs to be corrected (e.g. new kitchen in the above case.)
A broker will feed you MLS listings and that (IMO) is not where you find >>1% deals in a seller's market. If you get sucked in to their 'gotta buy now before prices go up' you will become a motivated buyer and your RE career will end before it gets started.
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