Long Term Rentals in North Carolina

[Alyssa Lewis]

Hello! *Newbie Investor 

I’m currently looking to buy a long term rental with minimal renovations in North Carolina and chose Fayetteville as my main area of interest. However, I’m really struggling with finding deals that cash flow. Is anybody currently investing here with success? I’m trying to stick to a market with properties less than 200k. Also, with being an out of state investor, picking a property that needs renovations seems really intimidating for my first rental. 

Any help and advice would be greatly appreciated! 

[Pat Lulewicz]

Take a look at areas such as Burlington, Mebane and Graham (Alamance), and Greensboro, High Point and Winston-Salem (Triad). These markets are very large in NC (comparable and larger than Fayetteville) providing for great economics as well as a more diverse employment base.

Doing a renovation is not as intimidating if you have the right team that can provide you comfort with before-and-after's of other projects they've done, plus accurate $s surrounding those projects. You just have to decide if Purchase + Reno still meets your investment return goals.