Any suggestions on which cities to invest/ look at, Im interested in North Carolina, only problem is that I live in California but properties are a lot cheaper than in California so I've become open to the idea of investing out of state. Any tips on how to start the process from here?
While the book really is great... What specifically are you looking for? SFH, Multiunit, mobile homes? Are you looking for cash flow or appreciation or a blend. How much rehab do you want to do? What type of tenant are you looking to attract?
I believe before anyone here can help you, we would need you to refine your ask a bit. Then more specific guidance could be offered.
Hey @Chad W. , so Im looking for a multifamily unit that would get me some cashflow and a possible blend with appreciation within the area. I'm think maybe around the 10-15k In rehab, and a tenant that would be able to care for the other units, since I'd be in California and wouldn't travel for minor cases.
@Edwin Revolorio Hi Edwin. Awesome to hear you’re looking into NC. I’m an agent and investor working primarily with investors. We work in all of the Charlotte sub markets like Concord, Kannapolis, Gastonia etc. to get the best returns. If you’re still looking to get started I’ve got a great team that helps out of state investors from all over from start to finish! Feel free to reach out.
Hey @Edwin Revolorio , as @Samara Huntley said above, Concord, Kannapolis, and Gastonia are where we're finding the best deals for our clients as well. The homebuilding market around here is going absolutely wild, so contractors & materials are in short supply which is driving rehab costs and timelines up substantially. If you're investing out of state, I'd highly recommend that you hire a reputable property manager for your property. In North Carolina, you have to be a licensed real estate agent to handle leasing for others (unless you're the owner and in a few other cases). You more than likely won't want to travel from California every time you have a vacancy. Shoot me a message if you have any questions!
I am interested as well. My goals are long term buy and hold (A/B neighborhoods), so appreciation in growth areas with good schools, longer term tenants, even if it means lower cash flow in the beginning. Also, are there any new build open to investors? Sold PM with reasonable rates. Thanks!