New to Real Estate · Member since 2022 · 3 posts · 2 votes
Greetings BiggerPockets Community,
I hope to be a first time home buyer within the next year.
I'm a recent grad who is single and looking to start my journey into real estate investing. I'm looking for a SFH that I can live in and rent out a couple of bedrooms near a metro area.
The Raleigh - Durham - Chapel Hill area stood out to me after I visited it a couple of times last year. However, I know it has become increasingly competitive in the past few years. Does anyone here have any suggestions in terms of neighborhoods to look around or should I expand my search within the state?
I hope to be a first time home buyer within the next year.
I'm a recent grad who is single and looking to start my journey into real estate investing. I'm looking for a SFH that I can live in and rent out a couple of bedrooms near a metro area.
The Raleigh - Durham - Chapel Hill area stood out to me after I visited it a couple of times last year. However, I know it has become increasingly competitive in the past few years. Does anyone here have any suggestions in terms of neighborhoods to look around or should I expand my search within the state?
It would help to know a few additional bits of information. Do you intend to get a job in RTP and how do you feel about commuting? Do you want to rent rooms out on long-term leases or short-term rentals? What is your budget for purchase? How do you feel about renovations? Do you intend to purchase and then move, or are you going to move first and then purchase?
The RDU/RTP market is incredibly dynamic due to low inventory for both sales and rentals, increasing costs and inflation, and increasing migration, so it might be good to hone in on some of these details to further narrow the answer on where you may want to be searching.
New to Real Estate · Member since 2022 · 3 posts · 2 votes
4y
Thanks for the feedback, Will Kaufmann.
I have a budget of $350k.
I intend to work remotely for a majority of the year so commuting won't be an issue as my employer is out of state. I intend to purchase and then move.
I would prefer long term leases however the proximity to colleges led me to believe that short term rentals to grad students could be an option.
I am open to minimal renovations as I am not experienced and would be relying on others as I learn.