All Forum Posts by: Clayton Kelley

Hi BP community,

I am in the process of buying my first property and I have narrowed the search down to about 5 properties in the Raleigh area. 3 are town homes and 2 are sfh. My plan is to live in the property while renting out a room to my current roommate,  live there for a year, and then rent it out to college students. 

My question is town house or house? Which would be more profitable to rent out if I can get either for a round the same price, but the houses are on average 10-12 years older than the town-homes? 

I know there are many other variables to consider, but any advise?

Thanks so much!

Clayton

Hey BP Community,

I have saved up, chosen an area in Raleigh, have a couple properties in mind, and ready to purchase my first property. My plan is to live there the first year and rent out a room to my current room to hack my cost of living and save for my next investment. 

My question to the community is when do I need to be putting down offers on the places I like if our current lease does not run out until January? I don't want to be stuck with a few months of double payments, but I don't want to be homeless for a couple months either... Any advise?

Thanks!

Thanks for the help guys!

@Ryan Fitzgerald and @Eric F. Thanks for the input. You are definitely right about there being slim pickings of Multi's in Raleigh. I currently live in Brier Creek so my target area as of now is south Durham, Morrisville, and west Apex. I still might have to consider SFR's depending on the market.

@Michael Jobe I currently live in Brier Creek and my target area as of now is south Durham, Morrisville, and west Apex. I will email you sometime this week with a quick synopsis of what I am looking for, and if you think one of your agents could help, that would be great!

Hey BP Community!

My name is Clayton and I am currently a financial analyst living in Raleigh, NC. After reading many books, blogs, and listening to almost all of the BP podcasts, I have realized REI is the way I want to build wealth through passive income. What I have learned so far is that there is still SO much out there to learn, but I have developed a vision of what I want to achieve over the next five years. (Long story short: purchase 5 multi-family properties over the next 5 years while working full time)

Currently I am renting an apartment through the end of January. My goal is to purchase my first multi-family property when my lease runs out and "hack my housing" (@Brandon Turner ) by renting out one of my rooms to my current roommate and renting out the other units. 

I am looking for an investor friendly real estate agent in my area to sit down and discuss my business plan and financing options (FHA loans in particular). Any advice on how to find the right agent or any referrals?

Any and all advice welcome! I am here to learn!

Thanks everyone for your time!