A newbie from CA looking to invest in NC

23 Replies

Hi would love to hear about investing in rentals in NC. Good areas vs bad.  Prop under $150. Are there any teams out there willing to work with an out of state investor. I'm from Ca. Thank you.

Kim - it seems like you probably need some more clarity of exactly where and how you want to invest in NC. While we aren't quite as big as California, there are major cities scattered all over the state: Raleigh/Durham/Chapel Hill (The Triangle), Greensboro/Winston-Salem/High Point (The Triad), Wilmington (Major Beach City), Greenville (College/Medical City), Charlotte, Asheville, Boone...just to mention a few.

These cities are all unique but many of them are considered to be in the top 100 cities for home buyers in the US (This was based on another article that I found on BiggerPockets, although I am having a tough time putting my hands on it).

Ultimately you have to decide what is your strategy, which will be more than just knowing a price point that you are interested in.

As far teams of people that could help an out of state investor go, I think that you might start with other out of state investors and see if they have any recommendations. @Johnny Hoang may be able to help you. Someone you should definitely know if you decide to invest in the Triad/Wilmington is @Jason Coleman who is both a real estate investor and a real estate agent.

Decide on a strategy, connect with some more folks on BP, and become financially free!

Happy Hunting!

@Kim Snyder I’m also from CA working w a realtor in NC. I would suggest learning the cities and the market there. There are deals to be made but right now the comps are all over thE place in the areas I’m looking

@Nathan Faucett do you or do you know anyone working in the triangle or Charlotte? I’m working with one realtor in Raleigh but I’m curious to see what another agent can find me 

I have been doing my research on NC areas. I am already working with jason but im open to meeting other investors and RE in other big cities or PM out there as well. If anyone has a referral please let me know.

Thank you all for the advice 

I've bought 19 SFHs ($80K to $140K) over the past 10 years in the Charlotte metro area. 2007 - 2013 was too easy. Currently, there are no investor deals on the MLS due to low inventory and the fact that owner occupants will outbid investors. The only decent deals I'm finding are auctions and foreclosures and self PM. Even those are ok deals, not great deals. I've bought a few from OOS investors that apparently could not make the #s work and had to sell. Best, Terrell

Originally posted by @Kim Snyder :

Hi would love to hear about investing in rentals in NC. Good areas vs bad.  Prop under $150. Are there any teams out there willing to work with an out of state investor. I'm from Ca. Thank you.

 Investing OOS when you live in CA is a great idea. Stick to mid-markets possibly in the Midwest where the prices are low bt rent is high! 

@Terrell Garren I think it just depends on what your criteria is as an investment. Charlotte may not be a great area based on the criteria that you have, but it does fit some investors. I currently work with several investors who are happily finding properties that work for them. I also work with a lot of first time homebuyers who are, ironically, being out bid by investors, so it's all about what you're looking for. Of course comparing it to the market after the crash when people were being foreclosed on right and left is no comparison. To each his own, and I'm glad you're still finding things at auction! Just my two cents :)

East Greensboro has the most cash sales so it's a great area to flip. From what I've read, Jamestown is becoming a place where people are flipping a lot because of good school districts. Buy and hold rental properties I'm looking into are in any of the college areas surrounding UNCG or Greensboro College, University if A&T. Route of student rentals in Greensboro has been the place for me as there are 7 colleges and universities in the city. South Chapman are good for short term rental as it is a short walk to the Greensboro Coliseum. I believe Greensboro to be tremendously undervalued. Greensboro has been coming up slowly; college areas, Moses cone hospital to name a few. At this price point, I think the floor is around 30-40K in most areas and there's sustainability there. And if it follows the same growth as Raleigh, Charlotte, Durham, Asheville (surrounding areas of Greensboro), I think in the next 5 years most of these gentrified areas of Greensboro will yield a nice return. And at that point from cash flow saved and loan pay down, you should have a strong equity position in each unit and that's when the fun part begins.

Don’t have a crystal ball of course but this is my opinion.


I like what Johnny said about Greensboro. I am a Durham investor, and Greensboro has gotten my attention lately. Also worth noting that Durham has recently passed code changes allowing increased density in Durham. If you have an appetite for new construction or buying existing with a deep lot and adding an ADU, that might be a good play.

I am looking at getting into the Greensboro, Triad area and buying around 50 single family homes within the next two years. We are going to take the lease option model that we've used in Arizona and apply it in North Carolina. Doing so should create $1.5 million of equity during that time and around 10k a month in cash flow. I am looking to build a team out there and I'm looking for a rockstar assistant.

Was in North Carolina last month. IMO Greensboro is poised for continued growth. Look right outside the city limits to avoid higher taxes but still have all the amenities. Winston-Salem looks to be up and coming as well, plus a great hospital. For suburbs, we are giving Jamestown and Clemmons a hard look. And then there is Statesville, which I believe is part of the Iredell County school district and also within striking distance of Charlotte - at least on paper. Lastly Newton is now touting faster access to Charlotte due to highway improvement. There is much potential in NC depending on your investment strategy and the strength of your on the ground team. I am grateful we are moving to NC in the near future. You have a lot of courage to do this long distance - best of luck.

I am an investor with a realtor wife, born and raised in the Winston-Salem/Greensboro area. As others have said, tons of options in NC for multiple investment strategies. As an FYI small MF (2-10 units) are hard to come by as we don't have many to begin with and of course even less available for sale. There are several good markets for flip/LTR/STR so figuring out your goals is important.

Happy to provide feedback or boots on the ground for someone looking to invest near the triad. 



Nc is great state to be buying in currently. Being born & raised here, I can tell you this state is growing leaps & bounds. Most main metros, small to med Multi-family are best value adds plays. Unless new construction is your thing. For SFH the better school district are almost always the smaller towns & city's neighboring the metros here. You may have heard by others, Nc & Sc are still Good Old Boys states. That includes banks & most all local sellers. I advise contacting locals for each market here you wish to invest in.

 Lucky for me 9-5 job has let me be able to work every market in Nc. Anyone can PM me and I’ll be glad to answer any questions to my best ability. And Barbara Harrison, if you have children. Clemmons Nc would be the better choice, the have several 9/10 schools & high equality area. Look into Bermuda Run, Pfafftown & Bethania. Good luck on the move & good luck to everyone on your investments!

Cheers!

The Triad especially near the I-85 corridor is my focus. I like the stable and diversified employer mix and the location in the middle between the booming metros of Triangle and Charlotte. Properties still largely cash flow positive. Like anywhere, avoid crime ridden neighborhoods and the Class D stuff, but generally I think the Greensboro and Winston Salem metro markets are good bets.