All Forum Posts by: Kaitlyn Chami

Hi KC, excited for you on your out of state journey. I have several out of state and am currently seeing Charlotte, NC (where I now live full time) taking off from a long term growth perspective and fitting your metrics. Going 10-20 minutes outside of city center Charlotte there are tons of single family rental opportunities. I'd be happy to chat more if you're interested DM me!

Would stay away from TX - have a few friends that were burned on the Dallas and also Austin markets... 

Curious for anyone that currently owns in Ft. Myers with a long term buy and hold strategy, are you considering getting out of this market? If not, who are you finding for good flood insurance and home insurance on your rentals? 

Hi Brian - sorry for being late to the game on your post here, I'm an investor myself and also a real estate agent licensed in NC. I specialize in the city of Charlotte though, but I'd love to refer you to a good contact in Raleigh if you are interested please PM me!

Investment Info:

Single-family residence buy & hold investment.

While rates were near all time lows, we bought a home that we could reside in and rent out the backyard detached living garage space. We love that our guests are almost always repeat visitors, making the AirBnB feel like an extension of our home versus a true commercial business.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $242,500
Cash invested: $49,000

This is an older house, built well on concrete block, that is next door to multi-million dollar houses on the water. It felt like a no-brainer for the value of the land, but being able to utilize a traditional mortgage because there was a clean yet simple 3 bed 2 bath house on the lot made the deal even sweeter!

Investment Info:

Condo buy & hold investment.

Purchase price: $260,000
Cash invested: $52,000

This gem of a condo caught my eye, despite the fact that I traditionally believed condos weren't as great an investment as single family homes.

What made you interested in investing in this type of deal?

This condo is in the heart of a prime neighborhood in Charlotte surrounded by multi million dollar single family homes. I wanted to have a spot to rent out and cover the monthly mortgage payments while securing a small spot to have for myself in the next 30 years for when I no longer reside in Charlotte but want to visit friends, or downsize.

How did you find this deal and how did you negotiate it?

I found this opportunity through a detailed Zillow search I had pinpointed the specific streets in the neighborhood I liked. I negotiated using my background in real estate investing. I'd love to help you and represent you as a licensed agent in NC, should you be looking for a similar investment property.

How did you finance this deal?

Traditional mortgage, 30 year fixed

How did you add value to the deal?

I provided a strategic offer to win in a multiple bidding scenario using discernment around the due diligence fee and length of timing.

What was the outcome?

My offer to purchase was successfully accepted in a competitive market, and I immediately found a tenant to rent out the space for a 12 month lease. I love the area, and I'm very happy to have this condo for the long term buy and hold strategy.

Lessons learned? Challenges?

While my insurance charges are relatively low each year given this is a condo, I learned to better assess who is behind budget planning at the HOA level for all of the units for roof, cleaning costs, basement improvements (shared by all units), given this was run well by one individual. As unit owners, we have since created a plan to bring in a property manager for the building's insurance needs.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a licensed REALTOR / Broker in the state of North Carolina and I'd love to help you find your next investment!