All Forum Posts by: Janna Rubright

Charlotte, NC, Duplex, 600 sq ft per side.  Each unit has 2bdrm, 1bath, kitchen but no laundry.  Offering $59,900.  Both units are currently rented for 1 year. Unit 1 rented for $445, Unit 2 rented for $390 so total rental income is $835.   New homes being built all around the neighborhood and it's close to uptown Charlotte.  

Monthly expenses including, mortage $234.35, taxes $883, insurance $892, money put aside for monthly maintenance $41.75, money put aside for vacancy contigency $83.50, property manager fee (estimated high) $91.85.  Total monthly costs $599.90.

Looking to hold for about 4 years and then renovate.  

Thoughts?

Looking to purchase first investment property in Charlotte, NC.  Home isn't in a bad area 3bd /1 bath, built in 1951 and has oil heat.  Average rentals in the area are about $850.  

Oil heat isn't the average in Charlotte, NC so can I expect a problem renting?  Any other landlords currently renting in 28212 ever have the same issue?

What's the general opinion of zip 28212, close to the old Eastland Mall location?  Looking to purchase my first investment property and would like to know what's the consensus of the area.  Anyone currently successfully renting in there?

Does anyone know of a foreclosure site for NC & SC that's free of charge?