First Time Investor Researching Durham/Raleigh NC vs. Columbus OH

[Nick Sokoloff]

I'm new to investing in real estate and am about ready to make my first purchase in an investment property. I was steered towards Columbus OH by an agent I met here on BP. Then, another trusted colleague told me to look in Raleigh and Durham NC. I have been speaking with agents in both places. Before being told to look in Raleigh I was pretty sold on the amount of growth Columbus is showing and all the Tech happening in the surrounding areas. But after speaking with an agent in NC, I'm equally as sold on options in the Durham/Raleigh area. 

The agent in Columbus was encouraging of buying long term rentals in C neighborhoods while the agent in Raleigh was promoting short term rentals in B areas in Raleigh and Durham. Both options seemed to have listings in similar price ranges (250-400k range).

Maybe there isn't a right or wrong here. But I wanted to get more thoughts on these two options from other investors to see if anyone had been looking in these areas as well. The agent in Raleigh pointed out that the jobs coming into Columbus, in particular at the 20B chip plant would likely be more blue collar jobs vs. the higher paid tech work that is entering into Raleigh, which I believe she said was growing by 5,000 residents per...month? 

My goals are appreciation over everything. However, cash flow is always great and having both would be incredible (duh). Hoping to start in a market and really get to know it so that I can buy more over the next few years. 

Any insight welcome. 

Thanks!

[Mike Paolucci]

@Nick Sokoloff

I can't speak much about Raleigh, but as someone who started off OOS investing in Columbus, I can't complain at all when it comes to the appreciation I've experienced. 

Here's an example why:
2021 - purchased a duplex for $145k in C class. Fast forward couple of years, sold it for $195k about 8 months ago and 1031 into an A class duplex. 

The timing was perfect with the A class duplex, but that's the kind of appreciation I've experienced for most of my portfolio in Columbus on top of the cash flow getting better as the years have progressed and rents and increased. 

Happy to answer any questions you might have.