Considering an off market investment property in Gastonia, NC

[William Hughes]

My wife an and I have six rental properties in the Charlotte area that cash flow. We are currently considering an off market deal in Gastonia North Carolina. It’s about 20% under market and needs a new deck, fresh paint, and roof. After that, we’d be about 12% under market - conservatively. Based on the comps, we should be able to break even and possibly make a few dollars. We may offload it in a few years if there’s significant appreciation. We see Gastonia as an emerging market within 25 minutes from Charlotte. With the increasing prices in Charlotte, more people are looking for affordability in outlying cities within the MSA which is driving up the prices in those areas as well. We've been gaining information about the economy and the happenings going on in Gastonia with their new Fuse District (the property is 2.5 miles south of downtown) and wanted to see if anyone has a perspective about investing right now in the Gastonia market. Thank you.