Out of state investor (Investing in North Carolina)

[Michael A.]

Hi BP Community,

I just joined BP and would like to start out by buying my first property (preferably less than a $100 grand) for repair and rent out  for long-term passive income. Is anyone familiar with the NC market and the areas with growth potential, that could be of great opportunity for my price range. Any advice would appreciated. 

Thanks,

MA

[Trevor Fleck]

@Michael A. investor here living in Raleigh. I actually chose to invest in other markets in others states. You'll have to really focus either on perimeter or rural markets to get under $100k for a house anymore. You could also focus on manufactured homes which get a bad name, but can be very lucrative investments. Out of curiosity, if you're out of state why focus exclusively on NC? It's certainly great for appreciation, a beautiful place to live, and has a strong economy in many parts, but all things being equal, I think there might be other markets better suited for an investment under $100k to get started. However, take a look at Fayetteville, NC where Fort Bragg is located. It's historically more of a cash flow market, but you might be able to find homes in your price range there. Also, Eastern NC in areas like Greenville or Goldsboro might be worth a look.