Buy and Hol investment in Raleigh

[Axel De Stabenrath]

Hello,

A friend and I are planning to buy a property in Raleigh Q1 2018 and from there build a Buy & Hold portfolio if things go well.

For our first purchase we are looking at buying a 3/4 bedrooms condo close to NCSU to rent to college students. Since we are not local (live in SoCal), we would hire a property manager and we are thinking of putting the property under a LLC structure and we would split 50/50 the purchase (my friend would pay cash and I am taking a loan). We are targeting the $100k to $150K price range.

This is my first purchase and I am still educating myself and could and will probably find the answer as I dig deeper into BP website. Anyhow, I would be interested in having feedback from experienced investors:

- Is the LLC structure the best way to go?

- Is the idea of renting to university students good for this kind of buy and hold investment?

- Are there any BP members who have invested in Raleigh and would recommend a real estate agent and a property manager?

- Any advice on the type of loan and maybe a recommendation for a loan broker?

There are probably many things that I am not thinking of right now and any advice is welcome.

Regards,

Axel