New Out Of State Investor Looking into Raleigh
I bought my first townhouse last year in Northern Virginia. The market up here is pretty hot and it is hard to find an affordable multi-family commercial property that will also meet the 50% and 2% rule. I am interested in investing in Raleigh, NC because it is a 4.5 drive away (might be too far) and I have noticed that properties in Raleigh might meet my criteria. I am interested in a 6-20 unit complex that would cash flow around $200 per unit in a C+ or B neighborhood. I plan to put 20% down myself. Does anyone have some suggestions on zip codes, property management, lenders, commercial brokers, or suggestions if I should partner with an experienced local investor? I appreciate your feedback.