All Forum Posts by: Dwayne Hunter

Hey Curtis Waters, someone else suggested Gaston county. Initially, I was hesitant b/c I was surprise to find out that the property taxes where higher than Charlotte's but due to the over saturation of investors in Charlotte for local & out of state investors I think you may be on to something.  Thanks again for the suggestion.

Thanks everyone for taking time to respond.  So Jason Smith it is even harder to find multi-family in Charlotte NC without feeling like you are over paying, or it selling extremely fast.  So the situation I am looking at is buying a small new construction for about $123,500.  After I put 20% down the total mortgage payments will be around $695 a month.  Based on what 3 bedrooms 2 bath homes are renting for, it should rent for about $1100 a month.  So with it being new, I shouldn't have any repair expenses (unless the tenant vandalizes the place which I hope to avoid with good tenant screening). So the profit would be about $400 a month if I manage myself or just $300 if I pay a property management company a 9% management fee. Is there anything else anyone can recommend or suggest? This would only be my 2nd investment home.

I'm Charlotte, North Carolina & the inventory is low and competitive especially for homes under $150,000 often times resulting in multiple offers.  Would anyone recommend me still buying & paying market price for the home since prices, interest rates are still going up? If I put down 20% I can still clear about $300-$400 a month after or with no rehab. Especially since the rental amounts are climbing fast here as well.