The investment market in or area is strong. I work with many investors including a Wall St. Hedge Fund that has been investing millions of dollars in our area for the better part of 3 years now. The rental market is strong with a 4.2% increase year over year, also median home prices and sales have been increasing.
As an investment advisor, I can help you find the property that makes the most sense for your objective. It's all in the numbers when investing in real estate. I run investment reports with detailed numbers with cap rate, vacancy rate, etc...
When you are ready, please give me a call, text or email me @Ken@SellingRaleigh.com. SellingRaleigh.com. I would be happy to speak to you about your options in our market.
You have a lot of good options here. I am a REALTOR and an investor myself. I think it is wise to work with someone who also invests her own money in real estate. It is easier to spend someone else's money than one's own, so the way I look at it is to think about whether I would invest my money in a particular project assuming that my goals were similar to yours...and they are. For most real estate decisions, location is the most important criterion. Do you want secure areas or more transitional areas that are poised to take off? If they will take off, is that in 3 yrs, 8 yrs, 15 yrs? Are you aiming for particular kinds of tenants? (Absolutely no undergrads!) How much renovation do you want to tackle?
Most definitely I would recommend leveraging your money so that you can own more properties. Again, that does depend on your situation and what you need in terms of cash flow and tax breaks.
I am from the Palo Alto/Stanford area, love Saratoga--that whole area is not affordable for investing. I assume that is why you are looking at NC which has had great press recently.
Whether you work with me or not, I'd be happy to talk with you.
Vivian Olkin, aka CrazyViv
As the others may have suggested have you considered more than one property or perhaps a multi-unit property? I would be glad to talk further about this with you. I can also direct you to some financial people to discuss the different scenarios to get you the best ROI.
Have a great day and good luck.
But instead of paying cash for the properties, you finance them, using your cash for the downpayment??
If you think about it from appreciation point of view, by financing the properties you can leverage your money into controlling a lot more real estate (that will likely appreciate) and you're diversifying your holdings so that all of your eggs aren't in one home!
Anyway, if you would like to find out more and/or have me crunch some numbers, give me a call.
As an FYI, you will probably require someone to manage your property for you and while I don't do property management myself , know of several companies and individuals who that is all they do, so could assist you there as well. If I can be of any personal assistance to you, please contact me via the link under my picture and I also would like to reference my website below.
A Cole Realty
Keller Williams Preferred Realty
Top "30 Under 30" Realtor in the Country by Realtor Magazine in 2013
Featured on HGTV House Hunters