Investing in Charlotte, NC

[Kelly Arthur]

I am a new investor based in NJ with thoughts of possibly investing in the Charlotte, NC area. The job market appears to have growth and the real estate market appears to be seeing the benefits of the job market.  I also have close friends in the Charlotte area that could look in on my investment. My concern is that rents seem low (vs NJ) and multi families (which I like to hedge against vacancies) seem to be in low demand.  So as an out of state investor looking at investing in North NJ (NY Metro area) vs Charlotte, where do you believe I'd have the better return on my investment? I realize that NJ is very expensive but I'm looking at the cash flows from multi-families in NJ vs single families in NC.  I'm interested in what the community has to say. Let me know your thoughts.

[Nick E.]

Hi Kelly,

I'm in a similar situation as a new investor in Brooklyn looking to get in to Charlotte. I also have close friends there which isn't the primary motivation, but it certainly helps to have an additional reason when you have to travel.

So far I've found areas around Plaza Shamrock and Briar Creek to have some good opportunities. There's also a lot happening on the West Side.

All in all I think there's some great deals to be had, especially compared to our crazy-overpriced corner of the country.