Charlotte wholesaling cash buyers

[Scott L.]

Hi all,

I'm a new investor in Charlotte and am building out a lead generating system. I have two questions:

1) What is the average rehab cost/sqft  (cosmetic, light rehab, and full gut) in the Charlotte market?

2) Who are the biggest cash buyers of properties? Would really appreciate it if anyone can connect me to buyers for properties which may not fit my investment strategy.

Thanks BP community!

Scott

[Kai Kopsch]

I never use average rehab cost/sqft because every building is different from what I have rehabbed so far in the past 15 years, but here are some general estimates for you

Cosmetic rehab: $11 - $25 per square foot
Light rehab: $26 - $50 per square foot
Full gut rehab: $51 - $90+ per square foot

The biggest cash buyers of properties in the CLT include:

• iBuyers (instant buyers) such as Opendoor, Offerpad, and RedfinNow
• Institutional investors like Invitation Homes, American Homes 4 Rent, and Tricon Residential
• Real estate investment trusts (REITs) like Equity Residential and AvalonBay Communities
• Private equity firms and hedge funds like Blackstone and Cerberus Capital Management
• Local and regional real estate investors and investment groups