All Forum Posts by: John Patterson

 Hoping I can make that next event! Had to work through this one sadly. Still thinking about and looking around for my first property. Feeling a bit of analysis paralysis -- but I feel I need more of an information foundation before I make any purchase decisions.

Thank you for the input -- any idea on rental rates for either place at certain retail values - Still feeling the rental market rates out on craigslist.

I'm going to be looking into joining a REIA in the area within the month, I found one that meets monthly, its ~ $150/year membership, but quite worth it for the connections if its legitimate

Bump

Bump - Found a retail priced house at a reasonable price that would likely cash flow -- not sure how I feel about it (Costs about $60k, will cash flow  $100/month). Not sure if I'm ready to pull the trigger.

Would you mind giving me your take on that report?

 Interesting -- so even at these high price levels demand seems to be increasing for rentals and apartments (even older units). Would you mind explaining the $430 affordability gap to me?

I'm going to post a zillow link I apologize if its frowned upon, please delete if so (of the shoddy triplex I mentioned earlier). I did a drive-by last week and it seemed like it had 1-2 tenants and the third vacant, but the shades were pretty jambled and the street was pretty class D looking tenant wise). If anyone has the time -- give it a click and let me know what you think about the property. Thanks!

https://www.zillow.com/homes/for_sale/Charlotte-NC/house,apartment_duplex_type/6179378_zpid/24043_rid/22222-197222_price/86-767_mp/6m_days/triplex_att/pricea_sort/35.533902,-80.351944,34.876355,-81.310502_rect/9_zm/

I'm certainly not opposed to buying on the SC side, really just using Charlotte as the location to invest around as its where I have some family outside of NY and seems to be growing (and cheap enough to afford a few SFH).

Great advice with the REIA -- I wasn't even familiar with them prior to you mentioning that. Thank you

BUMP

I'm still on the hunt for a sub $85,000 SFH that will rent/cash flow in the greater Charlotte area!

Yeah, there certainly seems to be tons of new developments and MF complexes all over. What do you think will cause the next housing price drop in Charlotte area? I really just want to acquire my first rental but i'm scared to buy at the 'peak' -- but I suppose if the deal is good enough it wont matter long term.

BUMP! :)

 So you kind of thing the fringe of Charlotte areas are stuck where they are in terms of appreciation? What would you do if you found a C- or more likely D very small triplex or duplex in pretty much in the heart of Charlotte? I think the rate for the triplex was ~ $150k with work needed (wasn't the most ideal setup/condition , and the duplex was ~ $120k with the same conditions). 

Thanks for your advice on Salisbury, I'm going to keep checking Zillow daily to feel out the retail market. Do better deals pop up on MLS a lot? I also noticed there were seemingly 'deals' to be had on craigslist.

Also like anyone hindsight 20/20 -- Wish I had purchased everything in sight ~ 2012 lol -- I just hope I dont buy and recieve another 2008 tier crash.

I appreciate all the responses. Thank you!

Gastonia seems to be emerging for sure as a cheaper area to commute to Charlotte. I'm still getting my bearings but the properties seem to be a bit expensive in the area from what they are, but I certainly think theres meat on the bone there. As long as Charlotte keeps growing that area will likely remain interesting. I'll look into Fayetteville as well!

Originally posted by @Dan Handford:

 I'm looking for cheaper SF Homes (Sub 65,000?) and MF units that would likely cashflow (seen a few duplexes on CL, driving around, one of which was unlisted in a seemingly great spot in Charlotte for commute time and being forced to be sold via court order ;) )-- Still need to call the number associated with that one (didn't have a price).

I sort of get that feeling as well for a lot of Greater charlotte areas -- but man if you drive around in I77 or other main highways the roads feel busier than Metro NYC ones at times. Will PM when I get better bearings or additional opinion. Thanks!

~ ~ ~Looking for more general thoughts or experience. Thanks again all!