OOO investing in North Carolina

[Chow Ahmed]

Hello BP!

I am planning on finding property in North Carolina. I would be an OOO investor and this would be my first property. Can you give me advice or a heads-up on what to keep in mind going into this? Is there something in my blind spot in terms taxes and law. I understand it is landlord friendly so as far as OOO goes, it is probably a good choice as far as I can tell.

I am specifically looking in the research triangle (e.g., Raleigh / Durham) and Charlotte.

Thanks a lot!

[Sophia Griffies]

Hey Chow, It’s a crazy seller’s market right now with multiple offers and homes selling over listing price with high non refundable due diligence deposits. However, most housing experts don’t believe we’ll ever have a recession like 2008 because people generally have more equity in their homes and there are much tighter lending standards. Banks were giving loans to people without even verifying their income. So right now may not be a good time to buy, but I wouldn’t sit out for several years waiting for the bottom to fall. You may want to use this time to increase your savings so you can make a larger down payment and have reserves on hand.