Apart from Durham and Raleigh what other areas are good for investment for rental? I heard from a few people about Knightdale, Pittsboro and Holly Springs. Is it true and why? Does anyone have experience in these areas?
Also, we bought our first investment property (all cash) in Raleigh last week. Hoping to explore other areas around.
We are from Spring Lake, close to Fort Bragg, and have lived here most of our lives. Our first rental was in the Sanford area(had a Broadway address though). It always stayed rented with no gaps in between tenants, always had another one lined up. It was a single story 1600sq ft 3 bed 2 bath that rented for $1300 a month. The Cameron area is growing. Within the last 10 years we have seen new housing, restaurants, a walmart and other shops continuously popping up. All of our tenants were military and signed 1 year or 2 year leases. We recently moved into it after having our first child but we are planning on staying in this area for all of our future rentals. We have another one in Spring lake and Fayetteville but our quality of tenants and cash flow have been better in Cameron. We are even flipping in the Cameron area as well now because of the demand we are seeing. I believe Sanford will be great for long term rentals, it will be where the growth expands to next. Hope this helps.
Hi Niti. My sister has a long term rental in Angier that was in high demand and one in Fuquay Varina in high demand. She just converted the one in Fuquay to Airbnb and is doing well with it.
@Chalie Parker thank you for your detailed reply. That does help!!
@Patricia Taveras thanks Patricia, I will look in to those too.