Trying to get a feel for North Carolina Real Estate

[Mark W.]

Hi everyone, I have been trying to get a general feel for the real estate in NC. I am looking at picking up a lower end property to fix and flip or fix and rent.

I have been looking at the North Charlotte area including up to Concord, Huntersville, Winston Salem, and Greensboro. Anyone have any insight into those areas?

Thanks!

[Kama Ward]

Do you know your long term goals yet? Do you have the ability desire to move? Are you just looking to get your feet wet?

Nothing wrong with N. Wilkesboro. Try one close to home first.
You really need to be there almost all the time during your first rehab. Even if you get lucky and get a good contractor- you need to learn. Then if you rent- lots of surprises and urgent needs crop up while you are getting your system down.

If I was looking over NC, I'd choose based on long term health of economy:
1. Triangle (raleigh, durham, chapel hill etc. )
2. Charlotte
3. Triad (gboro, winston, highpoint etc.)
4. Mid-sized towns Hickory, Boone (college kids), Statesville, Fayetteville (military) Salisbury yes Concord too. etc.
5. Toursity regional centers: Wilmington, Asheville
6. Rural
7. Rural touristy

Even though Asheville is just about the lowest on my list, I still invest here-- and make money-- as are plenty of other people. It more than meets my needs (for now and likely forever).

ps. Every city has places that look like detroit (some bad areas are bigger than others). Local knowledge keeps the fear down and confidence up. I would invest in Concord- but then again I know Concord. You should see parts of Durham if you think Concord is bad-- yet it's high on my list. Investing is not just local- it's hyper-local.