All Forum Posts by: Account Closed

Congrats! I heard that Ashville is pretty strict now with Short Term Rentals. How did this affect your search for a property like this? Did you get this property close to the city center? 

Look at it this way as long as the FED is keeping rates low and they are still printing money, then for the foreseeable future unless a major market catalyst happens you will be seeing low rates for the rest of 2021. 

I would like to see out-of-state investors on the Charlotte NC market compared to Austin and Huston Texas. I have been active in the NC market but here is a basic take on the CLT market 

Charlotte, NC is a great investment market. It has a major airport, lots of city amenities, strong rental, and real estate market. The city itself is very nice, with lots of options for outdoor activities, restaurants, shopping, etc. There's a diverse economy with banking, manufacturing, healthcare, tech, real estate, along with other industries, which means the local economy is more robust than what you would find in other parts of the country.

CLT has had constant population growth for quite a while, which means continual demand growth for housing. Within the city limits has some pretty expensive (and increasingly so) areas, some pockets of the town and the suburbs (Concord, Huntersville, Belmont, etc) are far more affordable and offer better long-term rental ROI. Within the city, you will find strong appreciation and solid ROIs for flips/new-builds and short-term rentals. Overall, we are experiencing appreciation from 10% to 16% year over year (depending on location).

@Harry Standafer What area of NC are you looking to purchase in?

Terminate and water damage are the #1 things to look for out here. Especially with older tenant-occupied residences that have not been touched in 20 years and the tenant does not report any leaks. Other than that there is not much to look out for other than what would be already included in routine inspections. 

Have you looked at Charlotte, NC? It is a great investment market. 

CLT has had constant population growth for quite a while, which means continual demand growth for housing. Within the city limits has some pretty expensive (and increasingly so) areas, some pockets of the town and the suburbs (Concord, Huntersville, Belmont, etc) are far more affordable and offer better long term rental ROI. Within the city, you will find strong appreciation and solid ROIs for flips/new-builds and short-term rentals. Overall, we are experiencing appreciation from 10% to 16% year over year (depending on location).

I can help if you have any CLT-specific questions, feel free to DM me. I can help with any questions you might have about the market as I have investment experience with everything from large multifamily portfolios (250 units) to SFR'S with first time investors in NC and San Diego.

Great job on the deal! I in a previous REI job and I was in charge of managing similar projects and making the most out of a property that needed a lot more than TLC. Love the fact that you did a complete renovation to the property and added HLA. Did you keep the property vacant prior to the sale? How long was the reno period?

Thanks for sharing glad to see my market (Charlotte NC) is moving on up! 

@Pieter T Van Zyl

Congrats on the house hack! What renovations did you focus on while you were living on the property? Did you rent out the rooms while reno was in progress?

Hey Lee! I wish I knew about Bigger Pockets when I got started, it definitely would have sped up my investing. Wish you the best and hope you find what you need here!

@Lee Rensch have you ever invested in the Charlotte market? I can send some market info over and would love to chat as the CLT market is great for SFR's! Unfortunately, we do not have an abundance of smaller multifamily family deals.