Buying new Townhome around Charlotte area

[Ankit Desai]

Since this market has been really hot right now, I am looking to buy my first townhome for rental investment. Is it a good idea to do so? I understand price has gone up so much. I am thinking outskirts of Charlotte area with new townhome development in (Matthews, Gastonia, Concord etc)

Any advice?

[Jordan Thompson]

I was literally on my way about 2 months ago to make an offer on a townhome when my agent called to inform me that the local HOA was no longer allowing renters in that community. Best advice is to talk to any HOA of the community you're looking at and ask them about this. I would have been left with a property I couldn't rent as my first investment which would have been bad.

Charlotte is very hot right now so outskirts are a better idea IMHO if you're looking at the MLS. I just put a duplex under contract in Hickory so keep going; there are still good properties out there.

Jordan