Buying an Investment Property? Are people still doing this?

Buying an investment home used to be a "normal" call I would receive several times a week. I've noticed lately that no one is calling with that request anymore. Hmmm...could it be that the first time home buyers snatched up all the inexpensive homes in the Wake County, NC

I know that Knightdale, Wendell, Zebulon and Garner are usually great towns to find starter homes for sale. The typical home you'll see available has 3 bedroom, 2 baths and is less than 1500 sq ft. The home prices range from$80,000-$140k That seems to be the sweet spot for first time home buyers and investors searching for rentals. Maybe the supply has dried up?!

My team has assisted on over 200+ investment purchases over the past several years. I still search daily for deals, foreclosures and distressed homes for sale.

I know my usual pool of investors here in Wake county has changed their strategies. Instead of planning to flip homes, they now purchase with a longer term focus.

HOLD, Rent, Update and Resale...its a 5 year plan not a 5 month rush! I personally think now is a great time to consider investing. You'll need at least 10% down payment and solid credit. If you don't have those two requirements in place...start preparing now. There will be some killer deals in 2010!

If you'd like FREE Daily Foreclosure email with every home in the Greater Raleigh/Durham area...drop Erica McClenny a call at 919-389-8702.