All Forum Posts by: Curtis Waters

Eric Little at mycaroinacpa.com is a great CPA. He is also a real estate investor

Don't miss the impact that the world economy would have on the US.  IMF transactions can now happen in other currencies than the dollar, Italian Banks are in trouble, India has restructured their currency.  Our media doesn't report on the world economic situation.  

Any drop in the world economic situation would impact Charlotte.  Those who have fix & flip inventory would see a negative impact.  Those with available cash could get rentals at great returns.

Ballantyne meeting every Monday @ 7pm at Gusto's in Ballantyne Village.

There is a meeting every Tuesday at Noon at Greystone Restaurant (3039 South Blvd) in a room in the back left of the restaurant.

Always buy based on financials!  As for Gastonia - plenty of value & growth -shoud see most of the region's value growth over the next few years.

Other investors are getting $800-850/month in West Charlotte.

I recommend you attend the Hobby Millionaire Charlotte meetings (held multiple times each week) - find on meetup.com.  You will find other local investors who can assist you in finding the data you need plus local analysis.  I attend or facilitate many of these meetings.

Those costs seem reasonable.  Also consider some mortgage companies are afraid of the liability & require this to be solved prior to closing.  Even if you remove the tank make sure you get a soil test to ensure no leakage.  NC has a grant program for underground tanks but it is poorly funded.

If you are making $100/mo and you have one month with no tenant - the $2100 loss equates to 21 montha to make back that vacancy loss - almost 2 years.

Charlotte has a strong market.  If this is your primary residence your profit might be tax free if you bought another home equal or higher value.  Take your profit and buy a rental unit.

You could get a much better return on lower value property.  One month vacancy would put you behind for almost 2 years!

I like your 1031 tax free exchange idea.  7% return is low.  The lower priced properties should provide a higher return (9-11%).  I personally don't ever count on appreciation - cash flow should be steady no matter the economic climate.  If the housing market takes a dip (yes- that would impact Charlotte), those who can't qualify to buy homes become renters, which continues your cash flow.   

Let me know if I can assist you.