All Forum Posts by: Mary Olynick

I love seeing this amazing transformation!  You rocked this renovation!

@Brenna Wood Check out this article on whether to buy or rent in expensive areas. It makes a lot of sense to me. I’m considering selling my Bay Area home and renting to drastically reduce my expenses for a much quicker route to financial Independence: https://www.financialsamurai.com/real-estate-investing-rule-rent-luxury-buy-utility/

@Greg Fitch It is a small world!  When I went to NCSSM, Watts building was an empty abandoned & scary building (we snuck in for Halloween!). Thanks for PM lead for High Point. That’s where I’ll be staying over Xmas & will likely start my search. 

Mary

@Karen Rittenhouse, Oh good! I'm glad to meet you and connect! I thought your name seemed familiar and now I know why. I listened to your podcast & even made a note to contact you later. I love how Greensboro is getting all fancy (I ate at this fancy, amazing taco place during my last visit).

Hi Greg, I am so glad to meet a fellow Triad investor on here! Congrats on your first two properties! I see you're from Chapel Hill (UNC was our enemy - I went to NC State). I also went to NCSSM in Durham for high school, which was one of the best experiences. I checked out the area for RE, but it looks to pricey.

I am relieved to learn more about the property management issue as a factor in the vacancy issue. I'm hoping to find a great property manager when I visit next time (probably in next couple of months). If I find one, I'll let you know. Are you going to manage your properties yourself?

Thanks for the tip on investing near I-85 and economy insights. I was also looking for neighborhoods with the big hospitals, universities (not sure about renting to students - maybe only grad students :-) ), and good elementary schools (for young families, just starting out), but there seems to not be many (NC, what happened!?).

I really appreciate you reaching out. I'd love to keep in touch and hear about how your journey in Triad RE. I'm excited to start.

Mary Olynick

Hi Investors, I’m thinking of investing in Triad region in NC (Winston Salem, Greensboro, High Point) out of state because most of my extended lives there and I can combine my hunt with family visits. I’m researching local economy (incomes, employment, population growth, etc.), vacancy rates & rental averages in various neighborhoods, and the numbers look promising though all over the place per micro-region. For instance, some neighborhoods have <5% vacant, while others have 20%+. Do any of you smart people have any personal knowledge on InvestIng In area or other advice on analyzing the area. I’m looking to cash flow as high as possible combined with some BRRR’ing.

Thanks, @Account Closed! 

I'm straight-up putting all your resources in my research list. I'm so fascinated by learning all I can right now. 

The money-side will definitely be at the top of my list of research - I love all your money-finance-type resources. I'm guessing that I'll need different finance strategies in my tool chest to help with scaling once I get my first properties going (or maybe even for these too).  The tax stuff will probably be necessary to consider (though probably a bit boring) especially in view of the new tax laws and how they affect RE investments. 

I'm also beginning to take a lot of notes on building systems for each stage of process - selecting/assessing, financing, fixing/renovating, managing, etc. I like that there is a lot of BP info shared on here by generous contributors such as yourself, which will help me build my own personalized systems and which I look forward to sharing when I'm no longer a newbie.

Anyways, I'm off to delving into all this info.

Cheers!

Mary

@Alex Deacon thanks for your thoughts! I’m diving into the BiggerPockets podcasts and AffordAnything podcasts by Paula Pant (I like her perspective & has simlar values & she’s a math nerd like me). I’m taking notes on all kinds of stuff for my business plan for doing RE investment while minimizing risk as much as possible.

Hi Everyone, I'm excited to be starting on this new path to financial freedom.  I live in Bay Area and am interested in NC (triad region) for buy-and-hold (rental) because that's where my extended family resides and Bay Area is too expensive to make numbers work out for me. I am currently in research mode - listening to podcasts, reading forum and other info on this site, etc.  One question that I have as I find myself listening to a great 5 year old podcast for education purposes is "have things changed significantly over the last 5 years" to make this research obsolete?  Thanks so much!