Rental Property Investor · New England · Member since 2024 · 2 posts · 2 votes
Hello my name is Markus. I am here looking for some guidance. I currently live in New England, but looking to relocate my family to NC. I just sold my multi unit about 6 months ago. Now that I'm sitting on a lump sum of money I'm ready to invest again. I'm just not sure which route I should take to start building an empire. I'm currently looking for another muliy family using an FHA loan, but starting to realize this may not be the best use of my money if I want to build a bigger portfolio. I've herd about the BRRRR method, Fix and flips and wholesaling. Which all sound appealing to me. My question is how to find the right market? Where do I start looking for a good deal and good contractors. Should I buy this multi family here in NE even though I'm looking to move out of state? I'm willing to follow in someone's steps who's already proficient in these areas of investing. I'm just ready to get the ball rolling and figure what better place to start than BP.
Lender · Orlando, FL · Member since 2023 · 220 posts · 183 votes
2y
Hey Markus,
Considering your relocation to NC, I strongly recommend joining the NCREIA. As a member myself, I've found it invaluable for honing business strategies in the local market. Leveraging the insights of seasoned members can help you develop a realistic plan tailored to the region. If you're interested, I'd be glad to connect you with the NCREIA and provide further guidance. Don't hesitate to reach out if you have any questions or need assistance.
Lender · Charlotte, NC · Member since 2019 · 467 posts · 279 votes
2y
Hey Markus!
I would suggest learning the markets and networking first. If Charlotte is your target market, great, its my backyard. But I definitely would network first. You don't want to overpay, and you want to be in the best areas.
Lender · Orlando, FL · Member since 2023 · 220 posts · 183 votes
2y
Hey Markus,
Considering your relocation to NC, I strongly recommend joining the NCREIA. As a member myself, I've found it invaluable for honing business strategies in the local market. Leveraging the insights of seasoned members can help you develop a realistic plan tailored to the region. If you're interested, I'd be glad to connect you with the NCREIA and provide further guidance. Don't hesitate to reach out if you have any questions or need assistance.
Hey Markus - You may want to look AirDNA. While it is mainly used for short-term rentals, it may give you some analytics about specific markets such as investability, rental demand, competition, etc. Also, I can help get you in touch with someone I know who may help you increase your network. Let me know.