North Carolina rental investment RTP area or Charlotte

[Kiran Yella]

Hi All,

We are considering a rental property as new as possible either in Research Triangle park proximity or Charlotte. The goal is to be able to hold it for atleast 10 years and see what happens. So rentability is a factor for investment as well has potential to build good equity. The idea is eventually the rental income to supplement retirement. Thinking a townhome with atleast 2 bed and no more than 3 bed with 2- 2.5 bath.

So, with these factors is RTP area work? What areas near RTP would be best. I am not NC resident , I guess that complicates some things. I understand Charlotte is Finance industry area and looks quite expensive. Any advice on what area to choose ?

1. In and around RTP

2. In and around Charlotte

Always have the feeling of being late in the game....

[Evans Wright]

I can't speak much for the RTP area but I do know a big tech presence is starting to take fold in that area. I am located in the Charlotte area and would agree about the presence of our financial sector but also medical is a huge industry as well.

If your outlook is 10 years then going with either option will prove fruitful. There are strong macro factors to include migration, job increase, and quality of life that will be bringing people into the area for years to come. I would also add that it may seem expensive in CLT area from your point of view but for many of our new transplants it is much more affordable. It seems like 3/5 people you meet are from NY or CA and have moved here in the past 5 years. That trend will more than likely continue.