Beginner Out Of State Investing in NC

[Wayson Lee]

Hi everyone, my name is Wayson and I currently live in the Washington DC area, but looking to invest out of state due to how expensive real estate is in the area I live in. I'm starting to learn more and more about real estate investing through podcasts and books and am wanting to invest right outside the Charlotte, NC market in Gastonia or Concord. Would love to connect with some local real estate investors/contractors/agents in those areas to hear Pros and Cons as well as potentially start looking for some deals! Looking forward to hearing from everyone.

Thanks,

Wayson

[Anthony Davis]

@Wayson Lee Hi!

Are you planning to build a rental portfolio, or start a flipping business?

Both Gastonia and Concord are good choices. Concord Mills Boulevard has seen substantial growth during the last ten years. The mall in this area has seen improvements and businesses have sprouted up around the area...as well as apartment communities. This growth has produced jobs within the retail and restaurant industry. Concord has the Hendricks family of car dealerships on this same strip. There are hotels across from the car dealership brands on the boulevard. Concord also has a race track that brings in an influx of traffic and revenue during the year. Concord also has an amphitheater that creates an increase in vehicle traffic and revenue. Plenty of job opportunities abound that are under $50k/year.

Gastonia seems to have a larger land mass which includes many areas of trees; curvy country roads; mountainous terrain in parts of town; several town Burroughs with a country feel; and scenic views that depict a historic past and city improvements that suggests a progressive future.

North Carolina has an extensive health system that consists of urgent care facilities in certain parts of both cities. If buying rental portfolios, be sure to inquire about rent rolls and discuss payment histories. Jobs abound, but eviction restrictions may be in effect, until December of this year.

In short, both cities are great. If you are planning to fix and flip homes, Gastonia may serve you slightly better with a greater variety of homes, floor plans, and price ranges. Traffic congestion will appear in both cities; however, with entertainment venues, new businesses sprouting up, and a smaller land mass, Concord will experience traffic congestion more often.

Wayson, I hope this information gives you a good picture of everyday living here.