All Forum Posts by: Glenn R.

Hello,

I live near Boone & also spend a lot of time in Cornelius.  I'm here to learn about real estate because it seems like a tangible investment that I can understand.  Real estate is a very big part of the local economies of both Boone & Cornelius.   I have seen family and friends benefit from both long term holdings on the lake, and from income generating rentals in the mountains.  

I built our home in the mountains, and enjoy the hands on projects that increase the charm and value of a home.  So, I can see myself flipping some properties if I run across the right deals, or perhaps building some homes on the lake.   I like the cash flow aspect of owning rentals.

I'm not in the position to act on anything today, but have some time read and learn.  I want to get a general understanding about the various way to invest in real estate, so when I am ready I will have a number of options to choose from depending on the market, my assets, and what I find appealing then.

If you're local to Boone or LKN maybe we'll meet over a deal, or a beer sometime.  ;)

I live near Boone too.  I have no experience, but if you are looking for rentals within an hour or so of Boone there are a number of other towns to consider.

Hickory, Morganton, & Statesville all have decent sized populations.   Since you mentioned Hwy 421, you might consider Wilkesboro too.  Hwy 321 between Lenoir & Hickory is a very busy area.

I'm just thinking the more areas that you consider the more likely you are to find profitable opportunities.  Smaller towns also seem to have more affordable property.

I'm new, like you, and wouldn't feel comfortable buying property too far from home.  

I agree that Boone is an expensive area, but there are a lot of realtors & property management companies here.  I have a couple of buddies with rental experience that I'm planning to approach as mentors.  I spoke to one last week that said "right now is a very good time to buy property if you have the funds available".   Maybe you can find a local mentor too.  

I also asked him about buying raw land, and he warned me that from a cash flow aspect rentals are a much safer investment.  

I'm glad I discovered BiggerPockets.  There's a wealth of info & experienced folks here to help.

Good luck,