Newbie starting out in Charlotte market!

[Ronak Choksi]

Hey everyone, hope y'all are doing fine! I am looking for building a good network and looking for a good RE agent who is familiar with BRRRR strategy and has good contacts with the entire BRRRR team. Also, who can help me to buy my first property. I am planning to buy my first property in 2nd quarter of 2021. Before that I would like to be familiar with Charlotte area.

Since I am a Newbie, any tips regarding this would be really appreciated. Hope to hear back from y'all.

Ronak Choksi

[Samara Huntley]

Hey Ronak. 

First, I want to say congratulations on taking the first steps to buying your first investment property! I am an agent and investor in the Charlotte area that primarily works with investors utilizing the BRRRR strategy. I have a great "BRRRR team" of contractors, property managers, lenders, attorneys etc. that can take the property from start to finish. Best sub markets I'm seeing BRRRR's workout in are Gastonia, Concord and Kannapolis. However, primarily Gastonia as the returns can hardly be beat. These BRRRR's are working out at around a 75-100k purchase price 15k+ rehab and a ARV of around 120k++ depending on size, location and rehab level. Most will hit the 1% rule. Why I suggest Gastonia, however, is not only due to the returns. It is also due to the future growth/potential Gastonia holds as it is rapidly growing. For instance, the new FUSE District that hosts a $26 million, 5,000-seat multi-use sports stadium is well underway construction and is set to open in March. Then, right after completion there is going to be a revitalization plan spanning a 16 acre radius of the stadium. The Loray Mills district, which connects to the Fuse District, appreciated a generous 11% last year. Feel free to reach out with any questions. Happy to help.

Check out this link to learn a little more about the FUSE District. 

FUSE District

Samara