Bought some homes in 07 looking at getting back into market

[Chad Baird]

Hi there BP- I'm looking for some insight. I purchased a few properties in the Charlotte area in 07-08 and I'm now in a position where I'm looking to buy some more. I live in San Diego, CA so I'm not familiar with the area outside of my current properties so I'm hoping for some insight on how the market is looking?

What is the best area to be looking in and what kind of cap rate should I be shooting for?

It seems prices are about the same now as they were went I purchased back then (finally recovered) and it seems like some areas are experiencing quite a bit of new development. Any investors care to share their thoughts on good areas to be investing now. Two of my properties are a bit north of Charlotte (Lake Norman area) and the other is a bit east.

My goal in the Charlotte area for investments would be getting properties for Cash flow.

[Michael Bowman]

Good morning Chad! 

We would be glad to assist you with purchasing some more rentals. I am the team leader of one of the top teams in the MSA, and we are geared towards helping investors. We manage 420 rentals and help investors flip as well. 

Some of my favorite areas to invest in around Charlotte are 28214 and 28216. The cash flow in those zip codes is great, and the demand is high. I also like some of the outlining counties like Cabarrus (Concord and Kannapolis), Gaston (Bessemer City, Gastonia, and Belmont), and Union (Monroe, Matthews, and Indian Trail). 

Let me know when a good time to connect is!