Chapel HIll, NC Market Info

[Victor Olowu]

I recently got accepted to UNC's grad program in Chapel Hill, so I will be moving out there in the fall. I hate paying rent so I was thinking about having some tenants pay it for me.  I am looking at buying a 2/3/4 multi-family building and living in one of the units.

Does anyone know any good finance companies in the Raleigh, Chapel HIll, Durham area that work with real estate investors?  Maybe some credit unions? Ones that you can actually talk to in-person vs just filling out an online application that gets an automatic yes or no.  

[Dawn Brenengen]

@Victor Olowu There isn't a ton of multi-family in the area, but Chapel Hill does have some.  My dad offered to buy me a house when I started my undergrad program there.  I was too reluctant to be a landlord over my roommates, so I didn't take him up on that.  Now I really regret it, and it was just about the dumbest decision I've ever made.  Don't be dumb.  :)

I wouldn't live in Durham.  I would find a place that is walkable/bikeable to campus.  While the commute from Durham wouldn't be totally terrible, parking on campus really sucks, and the TTA doesn't run often enough to make it easy and reliable. My husband actually works on Franklin Street and lives in Raleigh, and the bus from here only goes in the morning and the evening.  He has to drive if he is working a half day or has to do anything off campus that day.  It's annoying, but since his works schedule is generally 9-5, it's not so bad.  If you are in school, your schedule will probably be much more sporadic.  

To answer your actual question - I use Bobby Tidrick with Raleigh Mortgage Group.