Durham multifamily - How much cash flow?

[Chris May]

I'm currently active in Bay Area, CA real estate investing, but prices have risen to a point where there's not any money to be made anymore following my usual MO.

My family has the opportunity to relocate to Durham, NC and I'd like to get going again there. In California, investing is usually focused on price appreciation, and cash flow is a secondary concern (and usually not possible). I think I need to change my approach in NC to align with the different market, but not sure what to expect.

What does a typical property cash flow? What percentage should I be expecting? For example, mortgage, taxes, and insurance are in the $1,000 range, how much should I cash flow for it to be a good investment?

Obviously this is a very generic question and property specific so I'm just looking for general thoughts from folks involved in the area.

[Heather Hopkins]

Hey Chris May ! My husband and I moved from the East Bay (Walnut Creek) to Raleigh-Durham last year. There are certainly opportunities in Durham (at a much more reasonable price point!) especially for long term appreciation, but you may want to consider other markets nearby for better cash flow. Have you and your wife visited before or are you familiar with the triangle? I'd be happy to answer any questions or connect you with some folks here that may be useful. Best of luck!