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Kiran, Home Buyer in San Jose, CA

Single family home with rental income ?

Asked by Kiran, San Jose, CA Mon May 6, 2013

I am looking to buy a single family home in good school district of NC. Any idea if there are SFH available in $100K range for a rental income of around $800?
Any suggestions/pointers from property manager/Realtors' greatly appreciated.

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4
There are a lot of great properties seeking your returns on a single family home.
I can email you personally on specific areas and properties that would meet your criteria.
The best area is iin and around the Research triangle park area.
Let me know how i can help you out.
0 votes Thank Flag Link Thu Oct 17, 2013
Hi Kiran,
Investors outside of the Triangle often think they can get a SFH for very little money, and $100k is very little money. That is before one even looks at school districts. If the school district is one of the better ones, then the price is higher. Most houses in that price range need significant updates/renovations. Jose is right about the areas where you'd be looking.

I've been looking in parts of Durham, buying SFH that need a lot of work, then either selling them or renting them out. My standards are high--the houses need to be renovated so that my daughter or I would live there. That is true for the location also. However, I think you could get a SFH there that will bring in $800+/mo.

Are you paying cash or planning to finance it with a loan? As an investor, that would be 25% down. If you are paying cash or putting down significantly more than 25%, I have a place for you in Chapel Hill (excellent schools) though it is a condo.

Call me if I can help you.

Vivian, aka CrazyViv
919-624-5479
0 votes Thank Flag Link Tue May 7, 2013
3 beds, 2 baths, for $100K-ish puts you in Knightdale/Wendell, Garner areas. Unless you are looking to buy a fixer upper. Schools are pretty decent in Wake County (those towns are in Wake County) The rentals for 3/2 are going to be just under $800 in those areas. If you come in close to downtown Raleigh, the rentals go up a bit to $850-ish. Raleigh housing authority (I hear) is now paying about $900 for a 3/2. There's one in Wake Forest that I've had my eye on for a while... it's an older home, 3/1.5 and it's currently rented for $750 and they are asking only about $80K.
0 votes Thank Flag Link Tue May 7, 2013
Thanks Jose. So in the Wake county area - how much would a decent SFH cost? I am fine with REO/Short sale.
Also do u provide property management services as well?
Flag Tue May 7, 2013
Hi Kiran

There a certainly a few choices out there depending on where you want tomove in NC which county, etc. Do you have an idea of where/what you need to e near for work or how many bedrooms, you need? I'd love to help you give me a call or email andersond@hpw.com / 919-950-6321

Talk soon!
Dawn
0 votes Thank Flag Link Tue May 7, 2013
Hi Dawn - just to clarify - I am not planning to move in NC. I am in the west coast and looking for an investment SFH which would rental income of atleast $800.
I am fine with REO/Short sale as long as the property is in good school district and can create a rental income. Let me know if you or anyone you know who provides property management along with buying homes in these areas
Flag Tue May 7, 2013
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