Where to buy my first rental property?

[Aaron Bammert]

Hello BP family! I am currently trying to make the move into purchasing my first investment property to then turn into a rental. I currently live in Raleigh, NC and the market is very hot right now in the metro area. I have been looking in this market just for the fact of the amount of growth we have experienced over the last few years and the future plans for development. Currently living in the city, I have felt that this will be a great place to purchased rentals because it is so close to everything. However, I mentioned before that this is my first one and I dont have the budget yet to purchase some properties in this area. What are your thoughts about investing in townhomes or single-family on the outskirts of a city where it is more affordable? 

I am excited to finally be able to move forward on this journey and thank you in advance for any advice you may have!

- Aaron 

[Mitch Miller]

@Aaron Bammert first off welcome to the bigger pockets community! The wonderful thing about real estate is that you can be successful at it in so many different ways. The first thing you want to do is define your goals in what you want out of your real estate investments. Do you want cash flow or appreciation. Do you want SFH or multis. That will help you determine where the best place to invest is. But to answer your question at the surface level I would say it's 100% ok to start with any of the units or locations you stated. Just know what you invest in and the nuance of those different investments. I personally invest for cash flow so I invest in places that make sense not necessarily places that are close.