Home Buying in Greensboro>Question Details

kinne_a, Both Buyer and Seller in Raleigh, NC

Im in the process of buying my first home. I am looking to do so in the Greensboro/Summerfield area within the next 3 -4 months.

Asked by kinne_a, Raleigh, NC Mon Oct 28, 2013

I am looking for an area and house that is also an area with high demand for renters as I will rent out towards end of year. Can anyone recommend a few areas that are good for this. I am somewhat new to the area so any advice would be appreciated. Thanks Aaron

Help the community by answering this question:

Answers

12
Best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit http://www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.

I've had a book published on Amazon called Buying a Home: Don't Let Them Make a Monkey Out of You. It will teach you how to buy a home without getting ripped off, and will be the best $6 you've ever spent. Follow the link below.

Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.helpubuyamerica.com
0 votes Thank Flag Link Sun Nov 17, 2013
Hello Aaron
Thank you for your question. I like your approach for your first home as I recommend clients to purchase their first home with the intention of keeping it for a future rental when they move.
I have assisted numerous clients execute this same plan. As for areas to look at, it would depend on what your price range is going to be. With the current low interest rates, it is hard for a home not to cash flow within a reasonable purchase price. I would suggest that your requirements include at least 3 bedrooms and 2 bathrooms. If you can purchase a home with a garage then that is a bonus. I invite you to contact me and we can discuss more particulars. As I currently manage approximately 60 properties for my clients, I have a very good "feel" for what you a home would lease for given certain specifications. I invite you to contact me on my cell at 336-338-6012
0 votes Thank Flag Link Sun Nov 17, 2013
Best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit http://www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.

I've had a book published on Amazon called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll be the best $6 you've ever spent. Follow the link below.

Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.helpubuyamerica.com
0 votes Thank Flag Link Mon Nov 4, 2013
Good evening, Aaron:
If you want to purchase as an owner occupant, then rent, you need to make sure that you disclose your intentions to your lender so you don't violate the terms of your loan. Generally, if you get an owner occupant loan, you need to move in within 60 days and make it your personal residence for at least a year. Capital gains on the sale will be lowest if you live there for two of the last five years.
0 votes Thank Flag Link Mon Nov 4, 2013
Hello Aaron
So far there is pretty good information that has been given to you. So much will depend on your price range and ability/ affordability to qualify for a mortgage. Then given your loan amount, you can move into a price range that will ultimately dictate some of the areas. I have been selling real estate investment properties for over 30 years and currently manage properties for my clients as well. Just about any reasonable property price range will return a rent that should be either equal or greater than the mortgage payment. This is a great situation. I believe in creating wealth through real estate investments. i would be glad to share some strategies with you and make some recommendations.
Good luck! You are on the right track.
Kelly Marks
0 votes Thank Flag Link Mon Oct 28, 2013
Aaron,

As many have mentioned before me the northern area of Greensboro / Guilford County is a desirable area for many. We actually have low inventory on homes for sale and for rental homes in those areas as well. Of course a lot will depend on your price range and the size of the home you are looking for. Be prepared of course that as you venture into a more desirable area the prices will be higher. So a long term plan should be refined. You mentioned that you are going to live there for a little while and then rent the home out near the end of the year. Of course no one has a crystal ball as to the markets pattern (especially after the last downturn we had). But, if we keep going in the direction we are on that would be a wise strategy. I would advise that if you are going to keep to that path you look in the Northern School district and even Northwest. Now that is only if you are going to get the right size home.

If you have any questions feel free to contact me through my profile here on Trulia,


Hope this helps,
0 votes Thank Flag Link Mon Oct 28, 2013
Hi
I would be delighted to assist you in finding a home to fill your needs! I have alisting in northern Greensboro in very desireable school dist.
Danny Hazelwood, agent
336-613-4932
0 votes Thank Flag Link Mon Oct 28, 2013
In my humble opinion, around the major universities would be a rental market worth looking at. If you are not so keen on the idea of renting to college students, then it really comes down to the rental market trends in the particular area you are looking for. As a REALTOR, I legally cannot give you any recommendations on what "good" areas are, so the best idea is to drive around, see about what areas you would be willing to take a look at, and then have an agent check into the prices in those areas.
A good idea would be to find an agent to work with. If you don't have an agent yet, give me a call and we can talk more in depth about the process and the markets right now.
If you have anymore questions at all, please don't hesitate to call.
My cell number is 336-464-2447, give me a call anytime, or email me at AlexVercheski@kwrealty.com, I respond very quickly.
0 votes Thank Flag Link Mon Oct 28, 2013
Aaron,
I am a buyer specialist with 10+ professional years and 30+ years of personal relocation. I would love the opportunity to talk further with you regarding your move to our area. We can meet at my office for a buyer consultation where I will review the entire home buying process with you. We have a property management company in house as well when you are ready to rent out your home. Please email me at your earliest convenience to discuss this process further. I hope to hear from you.

Bobbi McEntee
Bobbi@TeamTriad.com
Team Triad Realty
3225 Battleground Avenue
Greensboro, NC 27408
0 votes Thank Flag Link Mon Oct 28, 2013
Hi Aaron,

I would love to help you find your first home. I work for Keller Williams, and know the Summerfield area, please contact me (336) 314-8828...so I can give you more information,,
0 votes Thank Flag Link Mon Oct 28, 2013
Hi Aaron.............................my name is Arnold Rogers and I am a Broker with Berkshire Hathaway Yost & Little. Please feel free to call me at 336-698-5166. I have lived here 45 years and will be glad to answer any questions you may have.

Hope your day is great!
0 votes Thank Flag Link Mon Oct 28, 2013
Anything in the Northwest High School district will rent quickly and easily. I have a property management company as well so I get requests for that area all the time. So just verify that you are in the Northwest School district and you should be fine. Closer to town is better but schools are most important.
0 votes Thank Flag Link Mon Oct 28, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer