Looking to make my first purchase in NC. Any advice?

[Elijah Householder]

Hello all, 

I have been saving for about a year now and am finally in a solid position to buy my first property. I have always planned to house hack my first property in California (Where I live) but I am starting to really like the idea of purchasing a SFH out of state and in NC specifically. After a little research it seems like a growing area and the company I work for actually has a branch there. Although I do not plan to move I can always go there for a bit at a time and still work if need be.

I am looking for ANY advice you all may have since you are the pros!! I will be going to Tennessee in about two weeks to check out the RE there and hope to visit NC in the next month or two. This will be my first property and want to do everything I can to get prepared and make the best decision possible. I am currently looking in Charlotte because that is where the company I work for is located but am totally open to any other areas in a reasonable distance. 

Any advice would be greatly appreciated! Whether it be advice on NC, Charlotte, buying a first property, how to meet people there. I need all help I can get:)

Best,

Elijah

[Stone Jin]

@Elijah Householder

The housing market is hot everywhere and people are buying. There is no indication that the market will be slowing down while interest rates are low and more dollars are being printed. By holding off a year or two, the prices may be even higher and you would lose 1-2 years of debt pay down and cash flow.

Since you work in the mortgage industry, you know that the loans being given out now is not like what was being lent out in 2006. The forbearance is an unknown but I suspects the banks will not foreclose rapidly as they saw how much the prices in 2008 dropped due to them doing so.

Have a plan and execute. Real estate investing is not a sprint and it’s also very forgiving the longer you hold it.