All Forum Posts by: Elyse G.

@Jake Wosick really appreciate it! I'll be sure to reach out if I need anything!

@Nathan Faucett awesome, thanks for the tips! I can see that market is very hot right now and MF properties are already more rare than SF. It's good to know though that the areas close by are considered hot markets to people outside the area too, makes me excited to get started!

@Caleb Griffin thanks for offering to help. Yes, the local market is pretty crazy but I am looking forward to finding the good opportunities nearby. I'll reach out if I decide to go the Greensboro route!

@Stone Jin thanks for the advice! I am still nailing down my strategy but you make some good points about considering short term in my local market.

@Cameron Braig thanks for the info as well! As I said to JD I grew up in Greensboro so I am familiar with the area. You make some great points about growing job markets and other factors that could be promising. Only an hour away is quite manageable for a first property, so I'll start looking into it. Do you have any properties in the Greensboro/Winston area? Thanks again for the tips and the warm welcome!

@JD Martin thanks for the suggestions! I actually grew up in Greensboro so I am familiar with the area. I hadn't thought about Winston-Salem though but that's a great option too. Thanks again, I'll definitely be looking into those.

Hi, BP community! New investor here hoping to gain some insight into different strategies for my first deal.

I currently reside in Durham, NC (bought first home in 2020) and have been interested in buying my first rental property in the Durham area or more broadly the Triangle of NC. Although having my first property within 30 minutes would be ideal, home prices are expensive and the market is still very competitive in this area. I am reading Brandon's book Rental Property Investing and just finished the chapter on local vs. long-distance investing so I wanted to post the question here.

Here's my general hope for the first deal

-under $200k

-small multi-family

-open to a small amount of rehab needed to get it rent-ready

If I chose to invest long-distance, it would hopefully be within a 3-hr radius (Southern VA, other cities in NC, etc).

Any advice for first time investors in the Triangle of NC in the current market? I am also interested to hear arguments for long-distance (but still within driving distance) investing and if that has a high barrier to entry for first time investors.

Thanks!