Aspiring Real Estate Investor for Rental Properties

[Warren Beatty]

I am a aspiring real estate investor living in Raleigh, NC. I was able to to save a decent amount of capital and I really want to tap into the housing market as an investor. I am looking for properties that I can rent in NC or VA and I am hoping to gain some insight in this forum on where I should start. I watch videos all the time so I have some ideas but I was hoping this forum can give me even more information that can help me make an even more confident decision.

So where should I start? Is single family or multifamily the way to go? What is the best way to find properties at a decent amount even if it needs some rehab work? (I kind of prefer a property that needs some work but its ok to find something that doesn't) 

Any information would definitely help me on my journey. And if you are living in VA or NC and are already doing real estate, I would also be interested in possibly investing in your portfolio.

[Andrew Chase]

I am no expert, but I do own a SFH in Richmond. You are in a good part of the country to invest.

What should you do?  That depends on your goals, capabilities, risk tolerance and opportunities.  

Want high quality tenants, relatively easy management and long-term appreciation? Buy SFH.

Want cashflow, and you're okay with low quality tenants and difficult management? Invest in class C small multi-family.  

In the research triangle you could use a student housing focused approach.  I knew an investor who did very well doing that, and the rent was always paid on time by the parents, but the constant turnover and damage from college kids was time consuming and expensive.

Like all investment, the riskier or more volatile or high effort the investment, the higher the return.  You could buy a McDonald's building on a 30-year lease where McDonald's handles all maintenance, taxes and insurance (triple net) and get a very slow and steady return.  On the other hand, you could rent a low-end Air BnB with huge profit potential, huge loss potential and requires tons of hands-on effort.

You need to figure out where in that spectrum you want to be.

There is a lot of great information on the internet, and obviously there's a lot of junk.  The problem with learning about any type of business/investing on Youtube, books, etc. is that many of them don't know what they're talking about and are not real estate investors, they're online course peddlers.  

    I am not trying to discourage you from learning and reading!  Just be careful who you learn from.  Many online personalities recommend very risky strategies.  If they want to push you straight into a 3 to 5 figure course, run away.

    Personally, I've had far more success with books than YouTube for this subject matter.  Books have the same problem, but it's not as bad.  If you go read or listen to a dozen real estate books, you'll see the overlapping ideas and those are the key concepts.  

    If an author is putting in all this effort to write a book, they want to make money.  Are they really a successful real estate investor who is looking for another business to teach you about real estate?  Great!  Is it a 25-year-old on Youtube who talks about the value of his assets without talking about his equity?  Run.

Paying for knowledge is fine, but I wouldn't pay more than $30.  IMHO $15 for a book is a steal and I happily pay it, but I will never sign up for their $1,000 course...

Highly recommended books, in order of importance:

Real Estate Investing For Dummies

Property Management For Dummies

ABCs of Real Estate Investment

Building Wealth One House At A Time

The Small and Mighty Real Estate Investor

As far as real estate data, look at population trends and free real estate reports.  Copilot recommended the following:  

1. HUD Comprehensive Housing Market Analysis (CHMA) Reports
   • Deep dives into local housing markets with 3-year forecasts.
   • Covers economic, demographic, and housing trends.
   • View NC CHMA Reports [www.huduser.gov]

2. NC REALTORS® Monthly Market Reports

   • Statewide and county-level data on listings, sales, prices, and inventory.
   • Access NC REALTORS® Market Data [www.ncrealtors.org]

3. NC Chamber Housing Supply Gap Report (2025)

   • Quantifies a 764,000-unit housing shortfall through 2029.
   • Includes economic impact projections and county-level data.
   • Read the NC Housing Supply Gap Report [ncchamber.com]

4. NC Commerce: Housing Cost Trends

   • Analysis of price appreciation, rent trends, and supply constraints using FHFA and Zillow data.
   • Explore NC Housing Cost Trends [www.commerce.nc.gov]

5. North Carolina Association of County Commissioners (NCACC)

   • Publishes the County Map Book and County Data Fact Sheets with housing, tax, and demographic data.
   • View NCACC County Data [www.ncacc.org]

🏠 Virginia Real Estate & Housing Reports

1. Federal Reserve Bank of St. Louis – House Price Index (FHFA)

   • Tracks quarterly home price changes in Virginia since 1975.
   • View VA House Price Index [fred.stlouisfed.org]

2. Weldon Cooper Center for Public Service (UVA)

   • Offers economic forecasts, housing-related research, and demographic data.
   • Visit Cooper Center [www.coopercenter.org]

3. Virginia Property Tax and Assessment Data

   • County-level property tax rates, home values, and income comparisons.
   • View VA Property Tax Data [www.proper...tax101.org]

4. GIS Property Maps by County

   • Interactive maps showing parcel boundaries, zoning, and ownership.
   • Explore VA GIS Maps [www.gismaps.org]

For most new real estate investors, house hacking is the best way to start.  Buy a 4plex, live in 1 unit, save more, repeat.  I'd look into that if I were you, and that is my personal strategy.  Finally, take this all with a grain of salt because I'm just some 29-year-old guy who reads books and has 1 rental house.