Updated about 5 years ago on . Most recent reply
Fayetteville, NC Out of state
Hello, Im an real estate investor that is venturing out of state particularly Fayetteville. If anyone knows the area and could offer some tips or advice please let me know! Thanks in advance.
Most Popular Reply
Hey Tony, I have been investing here for about 6 years. I've done a few different strategies in the area.
Right now it's a really hot market here. Competition is up, margins are thinning, but there are still lots of deals to be had. This is primarily a cash flow market and seeing any appreciation is unlikely. I've lived in the area for ~15 years and home prices fluctuate slightly with the larger market forces but ultimately have stayed stagnant, and some areas actually see depreciation due to sprawl. A nearby military base keeps the area stable and recession resistant, but it also prevents any real job or production growth here. I say all this to say, in this market you make money when you buy because any deal you get will be it's best on the day you close. If it's a skinny deal, it'll be a skinny deal forever.
People @Justin Tahilramani and @Carli Cummins are local investors who will give you good info with nothing to gain for it, be weary of opportunists of which are plentiful in the area. I recommend learning from the people who have been here a while, and never brokers.
Overall, it's a very forgiving market and a great place to learn or get started.