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.

[Drew Sygit]

@Warren Beatty How much time do you have and how fast do you want to grow?

SFR is easiest as only one tenant.

2-4 unit is next on the list and as you will typically owner-occupy a unit, it's still relatively easy to manage. You can also increase cashflow via experimenting with MTR & STR in the other units - even in the other bedrooms in your unit.

5+ MFR is where you need commercial loan and often you won't occupy, but will hire a PMC.

Make sure you understand the challenges of each Property Class A-D. If you apply Class A assumptions to a Class C or D property - disaster!