Looking for Fayetteville Hope Mills NC investors

[Cherie Tormey]

Newbie investor here.  I have gotten excited with opportunity in NC particularly the Fayetteville/Hope Mills area the home to Ft. Bragg.  Any suggestions of where not to buy as well as where to buy are welcome.  Curious to learn of success stories in this area.  I am positioned to pay cash.  Hoping to spend 100k to 200k and rent for cash flow.  Kind Regards,  Cherie 

[Don-Carlos Moniz]

Cherie,

Fayetteville/Hope Mills is a good area for investing.  Other areas to consider are Raeford, Sanford, and Cameron (all part of the Fayetteville MSA).  I recommend reaching out to @Dan DiFilippo; he is a local agent that works with investors.  The firm he is with also does property management.  Spoat, Jackson, and Browne is another local property management group I like - they work with investors and host a local meetup.

@Robert Shortsleeves is a local wholesaler that is always sending out properties.  You can reach out to him and get on his mailing list.  You can probably find a decent property through a wholesaler as a cash buyer.

North Carolina is an attorney state, so all property closings have to be handled by a licensed attorney.  I have worked with several in the area and have had no issues.  You don't have to use an attorney local to Fayetteville - they just have to be licensed in NC.

If you plan to purchase cash, that opens up several options, but most investors will encourage you to leverage your funds. At a 75% LTV, you could pick up 2 or 3 single-family properties that need light work, and still have a healthy reserve. Of course, you can use the BRRR method - always a popular topic on BP.

If you have any questions, don't hesitate to ask.

Don