Starting in Raleigh Submarkets - Garner/Clayton Area

[Jason Williams]

Hi all, my wife and I want to purchase our first rental property in the Raleigh submarkets. I want to see who (here) owns rental properties in Garner/Clayton and their success with those properties. I'd like to learn about your experience.

Background on our strategy: Currently looking into a couple of different new townhouse communities off of hwy70 - near restaurants, shopping, and gyms. New construction floor plans are 1400 to 1600 sqft with 3b/2.5ba and 1 car garage. Initial cash investment $60K. Estimated monthly expenses $1250 to 1300. That is mortgage, HOA, tax, and insurance without factoring vacancy and repairs. Projected monthly rent $1500 to 1600 starting out. Not looking for fixer upper or multi-family homes as first investment property. Hoping to see home value appreciation over time.