Beginner Investor Long Term

[Julie Stevens]

Hello everyone, I am new to BiggerPockets and I am looking for advice to purchasing long term rentals north of Greensboro in the Madison/Mayodan area. I currently own one rental in the area that was my family home. I am now interested in using the cash out method to purchase another. Any advice on what to look for and price range to maximize return would be helpful. 

[Jayme Currie]

Hi Julie,

What size home is your current rental (beds/baths)? Have you seen high demand when you list it for rent? How much money do you expect to be able to pull out of the current rental and still have it cash flow? Price range is going to depend on what you can afford, your appetite for doing repairs, and the rent rates you can expect in your market.

Jayme