Aspiring Investor, Just Moved to Raleigh, NC

Aspiring Investor, Just Moved to Raleigh, NC

Rental Property Investor · Raleigh, NC · Member since 2019 · 16 posts · 4 votes

Hi All!

I am a new investor and just relocated to Raleigh, NC from New York. I hadn’t had the opportunity to explore the area before moving so I look forward to learning more about it and meeting other Raleigh-Durham investors!

The goal is to close on my first rental property before March 2020!

Over time, I hope to grow a portfolio of SFH and small multiplexes via house hacking and BRRRR. My passion is traveling and I am going to work for the freedom to not be tied to the American standard of two weeks of vacation time (which typically must be approved by a superior, no less!).

I am currently in the education phase of my real estate journey. While I have the funds for a reasonable down-payment, my income from teaching English online will not excite many standard lenders! Fortunately, there has been so much information available about creative financing.

At the moment I am deep diving into the mechanics of seller financing. I suspect that not many sellers outside of the investment community are aware or familiar with it. What are some of the most effective ways to bring a seller financing option to the table?

Thank you for your time, I look forward to connecting with you!

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    Rental Property Investor · Raleigh-Durham, NC · Member since 2019 · 21 posts · 12 votes
    7y

    @Rachel Smith Welcome!  I moved to Raleigh from LI, NY about 16 years ago.  The area is still in BOOM mode.  There is a meetup hosted at Hickory Tavern in Cary the 2nd Wednesday ( I believe) of every month. Lots of great folks and a wealth of knowledge.  You should plan on a visit! And of course, do feel free to reach out with any questions.

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    • Pat LulewiczBusiness Member
      Realtor · Raleigh NC and Greensboro, NC · Member since 2019 · 393 posts · 392 votes
      7y

      Welcome to Raleigh, Rachel! I just moved here in November, 2018, so feel free to PM me with any questions or advice on the area! I knew the market was intense here, but you're definitely moving into one of the most competitive markets possible.

      To your point on seller financing, there are generally so many offers on any reasonably priced property that seller financing is generally never an option. Off-market deals would probably be your best bet if you want to go the seller finance route, and would have to be a strong deal at that as sellers know the strength of the position they have in this market.

      A suggestion - look over next door to Durham, or even a little farther over to the Triad (Winston-Salem, Greensboro and High Point). This is one of the few places left in NC where you'll be able to find deals that give you the cash flow you probably desire.

    • Real Estate Agent · Oak Ridge, NC · Member since 2017 · 76 posts · 39 votes
      7y

      @Rachel Smith welcome to NC. I am sure you will come to love all the south and NC have to offer. As you adjust to your new home and learn your market, I'd recommend joining local meetups and FB REI groups. I am in the triad area that @Pat Lulewicz mentioned. I have lived in RDU area also. Please don't hesitate to reach out with questions and enjoy the journey. 

    • Rental Property Investor · Raleigh-Durham, NC · Member since 2019 · 21 posts · 12 votes
      7y

      @Rachel Smith Welcome!  I moved to Raleigh from LI, NY about 16 years ago.  The area is still in BOOM mode.  There is a meetup hosted at Hickory Tavern in Cary the 2nd Wednesday ( I believe) of every month. Lots of great folks and a wealth of knowledge.  You should plan on a visit! And of course, do feel free to reach out with any questions.

    • Rental Property Investor · Raleigh, NC · Member since 2019 · 16 posts · 4 votes
      7y

      @Pat Lulewicz

      Thank you Pat! I’ll definitely have to look closer into the places you mentioned. I have noticed, in the research I’ve done so far, that Raleigh would be a challenging market to get started in. Fortunately, I’m not tied to any area in particular so I am open to exploring wherever the numbers lead me!

    • Rental Property Investor · Raleigh, NC · Member since 2019 · 16 posts · 4 votes
      7y

      @Justin Craver I’m sure I will, the area seems beautiful so far. Thank you for recommendation, I am glad to know that there is an active investor community. I look forward to becoming a part of it! 

    • Rental Property Investor · Raleigh, NC · Member since 2019 · 16 posts · 4 votes
      7y

      @Aris Mantalvanos I am from Long Island as well! I will definitely be making my way to Hickory Tavern for a meetup. Thank you!

    • Cary, NC · Member since 2011 · 34 posts · 16 votes
      7y

      @Rachel Smith highly recommend the Meetup in Cary. Great group of folks looking to help each other out!

    • Rental Property Investor · Raleigh, NC · Member since 2019 · 16 posts · 4 votes
      7y

      @Matt Burns 

      Thank you! Would scheduled meetups appear under "Real Estate Events and Happenings" or should I look elsewhere for details on the exact time and place?

    • Cary, NC · Member since 2011 · 34 posts · 16 votes
      7y
      Yep! 

      https://www.biggerpockets.com/forums/521-events-and-happenings



      Originally posted by @Rachel Smith:

      @Matt Burns 

      Thank you! Would scheduled meetups appear under "Real Estate Events and Happenings" or should I look elsewhere for details on the exact time and place?

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