North Carolina Markets for Investing

[Shaun Palmer]

Hey BP'ers,

I am looking to start investing in the North Carolina market and wanted to get everyone's thoughts on the current markets there.  I am from Raleigh originally and one of the reasons the area intrigues me for long-term investing strategies is that the market seems to perform well in a down and up market.  The economy continues to grow whether it is at a slow or fast pace (fast at the moment).  

I am interested in all parts of the state but am currently reaching out to my fellow BP'ers to gauge the markets in the state.  

Any thoughts or suggestions would be appreciated.  

Thanks! Shaun

[Bob Smith]

I am in Charlotte.  It is a very dynamic marketplace.

During the height of the recession, when we thought we might lose one of our two large banks, things were pretty stagnant.  Today, we see a vibrant and expanding downtown which is helping to convert older neighborhoods into walkable, trendy residential areas.

All that said, it really depends on you cash position and patience in the marketplace.  Deals are out there for buy and hold, rehab and hold as well as some flips.  The important thing is to decide what you want to do prior to jumping in.  Remember, if Charlotte is a great opportunity, your competitors will probably think the same thing.  By focusing on one strategy, you will be able to see and react quicker than a generalist.

for me, the hard part has always been to slow down and focus so that I could accomplish more.