Hey Guys!
My name is Matt and I recently got into real estate investing and over the past few months have I've done a lot of research. I won't bore you with all of the details about that, however, it has helped me narrow down my criteria quite a bit, and I'm hoping to get some help/advice.
I currently live in Rock Hill, SC which is about 25-30 mins from Charlotte, NC. I originally was looking to invest in SC since I live in SC, but after reading a bunch of forums and talking to a few others, it seems like it might be a better idea to look in NC. From what I can see, NC is a more landlord-friendly state and I've seen quite a few people talk about how they're losing a lot of cash flow in SC due to the owner-occupant tax situation here.
With that being said, Charlotte isn't somewhere I'm interested in investing. I'm looking at places more affordable like Greensboro, Winston Salem, High Point, and Fayetteville. I'm going for cash flow, and not something too far away because id rather not have to hire a property management company for just one property and because again-- trying to maximize cash flow.
I plan on going for a conventional loan for my first place and am looking at houses a little below the median price ranger in their area and something that is more rent-ready. Not turnkey, but not a fixer-upper either. I'm looking for SFH for under $100,000. Probably closer to the $80,000 range, but am also curious to know if there are any decent properties in decent areas closer to the $70,000 mark. I know that might be a long shot, but can't hurt to ask.
So I was wondering...
1.) Are my above reasons justifiable for wanting to invest in NC instead of SC? Am I missing anything like any cons in NC that maybe im not aware of?
2.) Are the places I've listed in NC that I'm looking at investing in, good for cash flow, and could I get something that I'm looking for in my price range there? (I look at the MLS, but am directing this more at people who live/invest in those areas.)
3.) Are there any other suggestions on other cities in NC where I can get something in my price range that could generate a decent cash flow?
4.) Should I continue saving/learning until I have more saved up?
5.) This is how I've narrowed it down currently to help me from staying in the analyst paralysis stage. I'm not opposed to things like seller financing or/or getting a MFH, in fact, I do plan on doing that in the future, but this, from what I can see, makes sense for me right now. Again, I'm open to advice and feedback about this too.
That was kinda long, so thanks in advance if you got to the end of it haha!
P.S. I know there have been discussions about NC vs SC in here before and I've read most of them, but some of them were older, and they only answered some of my questions.
