All Forum Posts by: Austin Hegele

Hey Anne--

It certainly can be difficult navigating the real estate investment market alone for your first time.  If you fear making a wrong move, I'd look into your network & see if there are any mentors or investors that you could potentially partner up with on your first deal!  Not only would you benefit from having a partner's input on the deal, but you would also have an experienced individual to work alongside with as you navigate the project.

It's also important to make sure you have identified your "team" ie; contractors / realtors / lenders / insurance agents / title company / etc.  By doing so, you'll be able to use accurate assumptions when underwriting deals with strong levels of confidence!

Sounds like a good problem to have... Personally, if you don't need to use that equity as a down payment towards a new primary home, I'd suggest keeping it as a rental!

Once you're all moved out & settled in your new primary, you could always explore DSCR rental loan options to take capital out of the rental property if seen fit-- which would also remove the current loan from self encumbrance & free up your DTI.

It's never a bad idea to hold onto assets in an appreciating market!

Welcome to the community--

Long-term rentals are a dime a dozen in the Charlotte market... I've only been able to find properties with positive cash flow potential in either pocket listings or from BRRR projects over the past year or so. Rents aren't quite keeping up with the property value growth!

Let's connect, would love to connect you with some realtors in my network!

Great post, thanks for sharing, Kevin--

I would also add that the Lower South End area into Madison Park is also a great area to relocated to if you want to be in close proximity to Uptown without being in the hustle & bustle of the city!  Not as walkable, however, as some of the neighborhoods that you have referenced here.  USNWC is a favorite of mine as well!