North Carolina Real Estate Investing

[Andres Ruiz]

Is it possible to get cash flowing properties in North Carolina? How have people gone about building their team for out to state investing. I am Californian looking to invest in North Carolina (particularly Greensboro or Charlotte), is there anyone willing to network and any recommendation for realtors and property managers? Thanks

[Evans Wright]

@Andres Ruiz it is definitely possible to get cash flowing properties in NC. I am an investor and realtor in the Charlotte area so my whole focus is growing wealth for myself and others. As any savvy real estate investor will attest to, you must be able to pivot your strategies and adapt to the market you are interested in. What I mean by this - In the Charlotte market it is difficult to find properties that will cash flow when taking a traditional Long Term Rental approach outside of you doing a BRRRR. Low inventory, increasing property values and interest rates are the biggest detriment to cash flow for LTR at this moment. Market rents have increased in Charlotte and surrounding areas by as much as 20% year over year but it still isn't high enough to cash flow once you factor property management and other operating expenses.

So what's the solution?? 

I advise all of my clients that if you want to cash flow you have to get creative i.e. rent by room or furnish a place and try to target traveling professionals.  These type of ideas will potentially help increase your GOI until you can refinance to a lower rate or market rents have increased enough. Additionally, when you see the migration trend to the Charlotte area continuing to increase as many people from bigger cities seek to find more affordable housing and better quality of life then you realize where this place is going to go in the near future and I am excited for it.

I am more than happy to have a conversation with you about the area and investing here.  I will send you a PM!