Hi I'm looking to invest in NC and I would love to hear your advice on if it's a good market for rentals. and the areas that may be good cash flow for a purchase under 150k. Thanks in advance. Any recommendations would be great!
I have a duplex in SC. The duplex is in a small low income town. Honestly, it's a cashcow, it stays occupied, requires very little maintenance and the tenants always pay on time. I'd suggest you try to find a multifamily in a similar market but in NC. I know there are a lot of "booming" towns were renting has gotten ridiculously expensive. Maybe look at surrounding towns, 1 hr commute, the people who cannot afford to live in the "booming" markets will still work there and rent were you invest.
@Kim Snyder what type of property are you looking for? SF? MF? Land? MHP? Commercial? Also a simple Google search of best markets in the US will yield you many results of people’s Top markets, Raleigh and Charlotte tend to be on most. But ultimately it’s up to you on what makes a market “good”
@Jeremy Wirths thank you so much. I am looking for a SF right now to get my feet wet and down the road a MF. How about you are you invested in NC and if so what town.
I have a duplex in SC. The duplex is in a small low income town. Honestly, it's a cashcow, it stays occupied, requires very little maintenance and the tenants always pay on time. I'd suggest you try to find a multifamily in a similar market but in NC. I know there are a lot of "booming" towns were renting has gotten ridiculously expensive. Maybe look at surrounding towns, 1 hr commute, the people who cannot afford to live in the "booming" markets will still work there and rent were you invest.
@Angelica M Garzon YES! love your advice. I was just actually doing some perusing and I was thinking exactly what you just said! Where is your dup in SC?
@Angelica M Garzon YES! love your advice. I was just actually doing some perusing and I was thinking exactly what you just said! Where is your dup in SC?
It's in Varnville, SC.
Super small town ! But, it's an hour from Savannah, GA and Charleston, SC. It's also behind the only hospital in the town. If you like the location, I know of another duplex, exactly the same that's for sale.
North Carolina is a good area to buy a property. I am not well aware of property in NC as I am a resident of NJ. But the professionals of Century21 can help you buy or sell a property in Passaic County NJ if you will contact them.
When I was actively selling real estate in Wilmington NC I would consistently find cash flowing SFR. MF was few and far between as far as cashflow was concerned. Most required significant rehab budgets.
Surf City/Topsail Bech were also areas I was able to find cash flowing short term vacation rentals for clients.
@Roni E. Cities near/outside of military installations are also promising (unless we go to war...) However, one factor to consider is BAH rates when investing in those markets.
@Kim Snyder I invest in Fayetteville NC . This market is stable very good for cash flow because of the military base Fort Bragg. You can so many properties under 150 k. You can hit me up for information.
I invest in Greensboro as well as Wilmington NC. Both are solid markets with food cashflow. Houses are generally higher priced in Wilmington but the short term rental game is strong. Greensboro provides great cashflow with a better price point. Feel free to connect. Happy hunting!
Hey! So I have a property manager, she does everything and when we need to communicate I email her. She charges 10% of rents collected and deposit my check every month in my account.
The good thing about SC is that grass cutting is for only half the year, so that saves me a lot of money.
@Kim Snyder we buy multi family property in Raleigh, NC and Charlotte, NC as well as a few other markets in the southeast us. We like our two markets in North Carolina because they have strong economic fundamentals like job growth and population growth both historically and projected for the next five years. These two factors paired with the volume of people for nice apartments means rental demand should remain strong.