Home Buying in Durham>Question Details

embasierra, Home Buyer in Akron, OH

what areas of NC are best to buy residential properties and to rent them out?

Asked by embasierra, Akron, OH Sat Jun 22, 2013

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3
Areas within walking or bike commute to colleges and universities. I am constantly helping students find housing away from campus (Raleigh, Durham, Chapel Hill). So if you are open to working with students then there is a need for student housing. If you are looking in the Triangle I would be glad to send some your way that have an incredible cash flow history. I also work with a couple of investors who buy a home here and there and have several rehab teams I use so that there is little time lost between closing the home, doing the renovations if needed and having it occupied. I just placed 6 students in housing so this is the time students will be returning shortly and there is time to pick up a few properties, rehab and meet the fall semester move in. The triangle has a healthy rental market for single family homes whether you are near the colleges or in small subdivisions. Let me know if I can assist you further.

Deborah Rigsbee Miller,Broker
Coldwell Banker Advantage
919-491-2826
1 vote Thank Flag Link Sun Jun 23, 2013
I live in Chapel Hill, own property that I rent out in Carrboro, Chapel Hill and Durham. Most areas of the Triangle are good for investing though a lot depends on how much money you want to invest and of that, how much is cash. Are you looking for primarily long term appreciation or cash flow?

Right now I'm investing in Durham in areas that are transitional, always looking for houses to fix up and rent out. I have a contractor with whom I work so that I know the total cost going in.

Email any other questions you have, especially more specific questions. I'm in Turkey right now for vacation.

Vivian
1 vote Thank Flag Link Sat Jun 22, 2013
Thanks very much for answering from as far as Turkey.

GS
Flag Sun Jun 23, 2013
To best answer this question, think about the geography of North Carolina. It is nearly 500 miles wide and ranges from the Outer Banks to the Blue Ridge Mountains. Depending upon the region, you will have a wide choice of the residential property market. Deborah gave a great answer about rentals in the center of the state.

The best place will be the one that works with the amount of funds you have to invest, the cost of property management, and the need and demand for rentals. The rental market in northeastern North Carolina varies from community to community. In some counties, the Coast Guard personnel are looking for rentals. Travel toward the Outer Banks, and the rental is vacation oriented with very different prices and seasonal.

So think about the amount you want to invest, the costs involved (insurance for a beach property is very different) and then you can find the best place for your needs in NC.
0 votes Thank Flag Link Sun Jun 23, 2013
Thanks very much for taking the time to answer my question.

Regards,

GS
Flag Sun Jun 23, 2013
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