Looking to build Cash FLow

[Seth Ricketts]

I am trying to learn and get into small multi family/single family real estate investing. My primary goal is to generate enough cash flow to be able to leave my current job and do real estate full time. The area that I live in is more of a long term appreciation style of investing since the price of houses vs the rent you can receive isn't that great. My question is, are their any markets in North Carolina that are better with producing cash flow?

[Brandon Plombon]

Quote from @Pat Lulewicz:

The Triad (Winston, High Point and Greensboro), Fayetteville, and STRs in most larger or touristy markets if you find the right property for the need in that market.

Unless you strike a couple gold mines with STR's, buying a few LTRs in cash flowing markets really won't let you leave your current job...its of course dependent on the amount of income you're trying to replace. If you jump into RE full time and do other activities to supplement your income (wholesale, birddog, flip, realtor), then you create another job; though you might find more enjoyment in that than the current job like I did.

Although there are a lot of DSCR lenders out there, one cautionary point is that without a track record or consistent results over a couple years in RE, banks will still see you as a debt risk without a regular W2 income when you make the jump. Definitely recommend doing both for a year or 2 (preferably 2+ for tax return purposes) so that you can better guarantee financing opportunities.

Please keep your W2 and do not jump in full time as you won't have 2 years of history on your Schedule E and no experience. You will be able to qualify much easier with a W2 income and a small track record vs no W2 income and no track record.