Advice Requested - Making the First Purchase

4 Replies | Raleigh, North Carolina

Hey Family,

We're moving to Raleigh within the next 6-10 months, and I'm looking to live in my first rental property for the first year.  We have family that live in Cary and Holly Springs and have heard that Cary and Holly Springs schools are both solid.  

That being said, from a rental perspective - my main focus is to take care of my family, investment value second.  

Where would you begin looking?  

Holly Springs - although great schools, it's pricing is already up there.

Apex - again, great schools, maybe better investment opportunities?

Garner - Maybe no longer the hidden gem, but schools aren't where we would prefer them?  (maybe this is bad feedback)

I'd appreciate any advice on where the first property should be...  My goal is to purchase something before the end of the year.

@Brandon Smith congrats on the upcoming move. You and your family will like NC.

I would recommend talking with @Tiffany Alexy . She is the realtor I use for all my deals. We also have a JV together, and she has her own investments. Her team also does property management. Her and the folks on her team can take great care of you.

@Brandon Smith maybe coming from CA it’ll be better but most of the Raleigh area is very hot and finding rentals that work are getting tougher.

Feel free to PM me if you relocate!

@Brandon Smith   Apex is actually a little more expensive that Holly Springs.  Both are excellent places to live and own investment property.  What price point do you want to stay under?  Price point will be a big factor in determining best locations for you.

Thank you @Andrew Kerr !

@Brandon Smith , welcome to NC :) As far as where you should look.. it largely depends on your goals.  Are you looking for cash flow? Appreciation? A mix of both? Some areas are better for cash flow while others are better for (potential) appreciation.  So it really just depends.

For something that you are going to live in... that can be tough.  Most homes that people would live in don't make the greatest investment properties.  Note that I say MOST and not ALL, but buying to live in versus buying to invest require two completely separate metrics.

Are you looking specifically for a single family, or would you also consider a townhome? The reason I ask is because generally the lower price point of a townhome can make them more attractive investments, while still providing a decent place to live the first year or two.

Anyway, just some initial thoughts... happy to chat more if you have more questions!