Cash flowing properties in Charlotte

[Casey Nordendale]

Hello everyone. My wife and I are re-locating from St. Paul, MN to North Carolina sometime around Q1 2017. The plan is to move to Asheville but the plan is also to start investing in residential buy and hold real estate. From the homework we have done so far, the two goals may not mix as well as we had hoped. The inventory in Asheville is so low that it is very hard to find properties that will cash flow. For this reason, we are looking at neighboring towns and cities to invest in as an alternative. As the largest city in the area, Charlotte is definitely in consideration. We could potentially move to Charlotte for a couple years and house hack, while we establish ourselves and build a local team before moving on to Asheville.

I would love to hear from some local investors in Charlotte on any or all of the items below:

What is your opinion of the market? Can you find properties that meet and maybe exceed the 1% rule?

Are there particularly good middle class family neighborhoods that I should look at?

Does anyone have an agent that they like doing business with that I could connect with?

Or anything words of wisdom that you would like to pass on.

We are going to be in town in July and plan to attend a CRIA meeting when we are there. We also plan to research neighborhoods.

Best, 

Casey

[Jessica Baez]

It is certainly more of a seller's market these days. I've had experiences with listings going within a few hours at full price. Tons of buyers, not many selling or inventory. At least in the areas I specialize in (top school districts) S. Charlotte, union county, fort mill etc. You'd have more luck in the more metropolitan areas Curtis mentioned 28208 & 28216. There's a lot for you to learn when you're here!