Charmaine Holden A Newbie investor

[Charmaine Holden]

My goal is to purchase properties in Kernersville, Winston-Salem, Charlotte, Greensboro , Raleigh-Durham areas.I would like to do the BRRRR strategy to increase ARV. I have read BP recommended RE books by B Turner and J. Scott, listened to several webinars/podcasts, and presently using the BP calculators to analyze deals. I would like to gain passive income towards my retirement also.I am seeking advice from RE agents, PM and investors in these areas for guidance. Advise also needed for financing the deals. Are these market areas good/bad for investing? any advise would be appreciated. Thanks !

[Corby Goade]

Personally- I think people get too caught up in timing the market and whether or not the market is "good" or "bad." If you are buying and selling in the same market, it's all relative, so it doesn't matter what kind of market it is- the only variable that will affect you is the barrier to entry and availability of money. 

Think of it this way- there are many owner occupants in my market who want to sell right now because we are at an all time high for pricing. When they do sell, all of the sudden they realize that they have to use the proceeds to buy a new house in the same market and are disappointed with what they can get for their money. They forget very quickly that they just made a huge premium on their sale for the exact same reason. It's the same for investors- you can make a great premium in a hot market, but you'll have to cough up more cash up front for that privileged. In a buyer's market, the barrier to entry is much lower, but the rewards will be relative to acquisition costs as well. They key, if you are wholesaling or flipping, is the speed of the turn around so that you can ensure you are buying and selling in as close to the same market conditions as possible. 

If you are buying and holding- as long as the cash flow and vacancy rates serve your needs, the rest is irrelevant. We'll save the lecture on leverage for another day!

Best of luck!