Anyone imvesting in Gastonia?

[Felipe Pinto]

Is anyone investing in Gastonia, NC? I am out of state (NY) but looking to buy a property in cash for rental income. The only reason I will buy cash is to try to get a better deal, and then right after, I can refinance to take advantage of the interest rates.

I am trying to figure out what makes more sense in Gastonia? 1br, 2br or 3br houses? Condos? Any specific area within Gastonia that makes more sense than others? Lastly, anyone knows any wholesalers that focus in the area?

Thanks a lot

[Samara Huntley]

Hi Felipe! 

Gastonia is actually the primary market I work in with all of my investors and with the revitalization plans for the city I am quite bullish on the Gastonia market. We also always try and use the delayed financing approach if possible as we can recycle that capital as soon as we close and sink it back into another deal. Mainly we invest in 2/1-3/1s (if they have 2 baths that's a plus but not a deal breaker). Purchase price averages at about 75-110k around 15k in rehab and an ARV of 120k++ depending on location, size, level of rehab etc. etc. The specific areas I suggest to invest in is the North East-West areas and if possible, anywhere near the New FUSE district that is home to a 5,000 seat multi-use stadium that's also a part of a 16 acre revitalization plan that is set to get going as soon as the stadium is set to be completed in March. The Loray Mills district, which is right beside the FUSE district appreciated 11% last year. If you have any questions about the Gastonia market feel free to reach out, happy to share my insights.

Check out this link to see the plans for the Fuse District! All I see is potential. 

 Fuse District Development Plan