looking to invest in NC from MA for first time. tips?

[Nicholas Mitrano]

Hi all, I'm a Boston investor and I have an immediate family member moving to Fayetteville NC. I'll be down for a weekend in Dec. helping him get situated. This accessibility is sparking a thought of my first time investing out of state. here in my market a mediocre midsize single family is easily $500k+ and 2/3 family gets up between $700-900k+ so when i decided to browse the market down there i was blown away with the potential. to put this in further perspective the cost of the home seems to be almost 300% more up here, but the rent amount is only about 150-200% more.

what were your experiences on your very first out of state deal? 

do you live or invest in NC now? I'd love to chat or meet with anyone while i'm down there next month.

[Dan DiFilippo]

@Nicholas Mitrano they call Fayetteville a playground market for a reason. It enjoys the low property values/taxes of the south, while the tremendous need for rentals and constant turnover (not to mention foreclosures) makes it an opportune market for both flips and cash-flow (although market conditions have been a bit abnormal lately). And the general reality of rents being regressive pretty much everywhere means that the lower value markets are better cash-flowing. I have a thesis that supposes that Fayetteville and the south broadly will benefit from inordinate price appreciation over the next 5-10 years. It can be surmised by reading my diatribes in my post history here. Alternatively, I enjoying a good private discussion as well, and always welcome a PM!