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Updated 6 months ago on . Most recent reply

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Need advice on buying my first rental property

Vamseedhar Vuppu
Posted

I'm planning to buy my first rental property. Below is my budget.

$$ Range = max 350k

Down payment = max 25%

Goal = Positive cash flow and appreciation(if possible)

I'm thinking about 2 options. 1. Buying rental in southern California(I live here) 2. Out of state in Raleigh,NC(Have a friend here)

In southern California(orange county) not able to find any thing affordable in our budget. If we find anything, no cashflow and only thing I'm banking on is home appreciation in future. Thats a lot of risk for first rental.

In Raleigh, NC. I could find property that is in my budget. I have contacted couple of real estate agents, they want me to fly in to look at properties.  Is that how it works for out of state investment? do you guys has to fly in to checkout the properties 

What are the areas I should look around Raleigh for good rental property?

Most Popular Reply

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Benjamin Carver
  • Real Estate Agent
  • Raleigh, NC
272
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280
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Benjamin Carver
  • Real Estate Agent
  • Raleigh, NC
Replied

Honestly I've never met out of state investors in person. Easily done from a distance. As an agent, my value is boots on the ground w video tours, comps, rental data, and everything else needed to invest from afar. 

In Raleigh, I have my investors focus near RTP as that is our economical hub and where the appreciation historically is highest (and easiest to rent). Assuming you want long term renters, then staying around $400k or less is where you need to be anyways. Townhomes are a viable option, as sing family houses in the best areas can easily get in the mid 400s and up real quick.


I focus on North Raleigh, Brier Creek, Bethesda (durham county) to name a few spots. Raleigh investing is my bread and butter, so please feel free to reach out and I'm happy to answer any questions you have about the area

  • Benjamin Carver
  • Podcast Guest on Show #30
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