All Forum Posts by: Colin M.

Hey there!

Myself and my fiance are NYC based first time buyers / investors who are looking to purchase some rental properties in the Charlotte NC area.

We dont know where to start though, should we reach out to RE Agents and have them advise us? What neighborhoods should we look in, what online data websites should we research, etc etc..

Appreciate any help on what you guys think our first steps should be to at least get ourselves up and running on the Rental Property game!

Regards

Colin

Hi -

Im in a similar situation only im based out of state (NYC)... as a first time buyer/investor im in the process of reviewing local Real Estate Agents now..

However the one thing i seem to be having trouble with is where to find a lender? Any help with this folks?

Who do you typically approach? A local bank, a national bank, a credit union... or someone totally different? Or who should i be looking at? 

ALso i find from talking to RE Agents, they all ask how much have i been approved for, should i have a pre-approved mortage in hand before i approach a RE Agent or does it matter?

Hi there!

I'm a NYC based "investor" looking to make my first ever Real Estate purchase. The local market here in NYC is just ridiculously over priced and the standard of apartments is extremely low considering the price you pay.

With this, I've been looking at buying my first property in another city and am drawn to Charlotte given its growing, young, lively and affordably rates.

Unfortunately i dont know where to start! I'm looking to connect with any locals on here who could offer some advise, what neighborhoods to aim for, to avoid, whats the norm -1 bedroom apartments or 2 bedroom apartments, what Real Estate Agents/companies to reach out to, whats the standard Mortgage rate someone like me should be expecting, whos the best mortgage lenders locally.... etc etc.

I'm torn between aiming near UNC giving the constant number of students who will always need a place to live.... or another neighborhood aimed at the local workforce, near big businesses, higher rents etc.

Looking forward to an educational discussion with you!

Im in the process of searching to buy my first property... This will be an investment property (apartment)

Im told by friends that its best to buy as a "first time home buyer" instead of setting up an LLC and buying as "an investor" - for tax purposes? Does this make sense?

Also, if i were to set up an LLC and buy through that, are there any issues with transferring my personal savings/money into the LLC and buying with this? Do i need to look out for any tax hits for doing such a move? Both personally and as a business owner!

Thanks

Hi there!

Im a NYC based first time buyer/investor looking to purchase an investment property in Charlotte NC, attracted by its low prices, good rents, growing status.... Im looking for a reputable RE Agent in the area but dont know where to look. Google sends me to "HomeLight" or "Topagentsranked" to find an agent. Anyone familiar with these websites, do they put you in touch with the right people or just randomers?

Or where would you guys recommend i begin my search? Simply just reach out to the big guys, Coldwell Banker, Remax etc?

Appreciate any help you can offer....

Hi there!

I'm a NYC based "investor" looking to make my first ever Real Estate purchase. The local market here in NYC is just ridiculously over priced and the standard of apartments is extremely low considering the price you pay.

With this, I've been looking at buying my first property in another city and am drawn to Charlotte given its growing, young, lively and affordably rates.

Unfortunately i dont know where to start! I'm looking to connect with any locals on here who could offer some advise, what neighborhoods to aim for, to avoid, whats the norm -1 bedroom apartments or 2 bedroom apartments, what Real Estate Agents/companies to reach out to, whats the standard Mortgage rate someone like me should be expecting, whos the best mortgage lenders locally.... etc etc.

I'm torn between aiming near UNC giving the constant number of students who will always need a place to live.... or another neighborhood aimed at the local workforce, near big businesses, higher rents etc.

Looking forward to an educational discussion with you!

Hey there!

Im a NYC based investor, looking to get into the Charlotte, NC market to purchase my first ever rental property! As you can imagine, being an out-of-state investor brings many concerns on top of the normal! I'm looking for any advise offered on areas that are hot for rental incomes, good value for money, better local real estate agents to approach, etc.

Also - i have a dilemma where i want to get pre-approved so when i do reach out to my Agent, i can tell them that i am pre-approved for X amount and they can they see whats on the market within my budget.... However, when i reach out to mortage lenders, they ask to see the price of the property im purchasing!!! i dont have it! i havent looked as i dont know what i can afford! Is this a catch 22 or am i missing something obvious?

Appreciate the help BP!

Colin

HI there!

So I am a NYC based investor in a similar situation. I am looking to make my first rental property purchase in the Charlotte area as you seem to get better value for money down south. I've never been to Charlotte but hope to get there before the years end. Looking to buy a 1 or 2 bedroom apartment in a high rent positive area - from my research i see Dilworth, Plaza Midwood, South Park ar ethe main hot spots? Would you guys agree?

What are your thoughts on buying rental property near UNC? Im sure its a safe area in terms of finding renters but i assume the rates would be low to suit the students who live here!

My range is 100-150k.

Appreciate any advise or feedback also.