Real Estate Beginner

[Bar Steinberger]

Hi Everyone,

My name is Bar, and I am new to real estate want to invest in North Carolina. I Did my research and decided to invest in Charlotte.

My plan is to start out by purchasing SFHs, in a B class (and above) areas with a budget of 150K(All in),

Can anyone provide some tips for me?

Any special or unusual RE rules that I should be aware of at North Carolina?

What are the best neighborhoods to invest in for buy&hold?

What are the worst (high crime areas)that I should stay away from ?

I would love to connect with agents and wholesalers that work with investors.

Thank you for your help

[Adam Schneider]

Quote from @Bonnie Low:

One of the things you should know about North Carolina is that it's one of the states where your earnest money deposit (EMD) goes "hard" as soon as your offer is accepted. This means you don't get that back if you pull out of the deal. There is also a due diligence deposit, which you can get back. This is VERY important to understand both in terms of risk management and your strategy for making offers.

Hi Bonnie. Your statement about your EMD going hard in NC as soon as your offer is accepted, is incorrect. You flip-flopped how the EMD and the DD (due diligence) work. The DD is the non-refundable deposit, and the EMD converts from refundable to non-refundable (hard) at the expiration of the DD period. But--I'm glad you jumped in with the heads up that you did, because out-of-state investors are almost always confused about this peculiar deposit process in NC.