All Forum Posts by: Lamar Lamont

Do you think the surrounding areas of Charlotte will appreciate? I was thinking of finding something around 20k to flip and hold, renting it out until I’m ready to sell. 

Me and my mom have 95k in savings and inheritance, and have been preapproved for a loan of 192,000. I’ve been making offers on duplexes that are around 200k, but keep losing out to cash buyers. The market here in Charlotte is very hot. I haven’t given up my search for a multi family unit, but have been thinking about flips. Would it be lucrative to by a property in a city like concord or Gastonia for around 20-40k cash with the intent to flip or hold? I have a close relative here in Charlotte that owns many properties and has a lot of real estate investing experience. Also, any good meet ups in Charlotte for someone in my position? Thanks

 My original plan was a mfh to buy and hold and cash flow. I am preapproved for an fha loan right now. Purchasing a mfh in Charlotte seems to be very difficult at the moment, hence my consideration of other options. I will continue to search for an mfh, but I will continue to study up on flips in the meantime.

 Mfu’s or sfu’s. Whichever is more profitable. As a newbie, I’m just trying to figure out a direction for me to start with. My original plan was a mfu near downtown to house hack, but after a few offers with no luck, I’m starting to consider looking a little outside of Charlotte. 

I’m also interested in options outside of house-hacking ie flips.

Me and my mom have around 95k in savings/inheritance. I was also approved for a loan of $192k. I’ve been making offers on duplexes at around the 200k price range, but have been losing to cash deals. I’m not going to give up hope yet, but I’m curious about other options. I was thinking of buying properties in surrounding areas like Concord or Gastonia for 20k or so to flip. Should I keep up my search for a multi-family in this hot market or go for flips? Also, are there any good meet ups for a newbie like me to find deals? Thank you.

 Thanks. Looks like I have a lot more research to do.

 What is the best way to find off market properties. Any websites you recommend? 

 Where should I be looking? Help a brotha out lol.

Me and my mom currently rent an apartment here in Charlotte. With $95k in savings and my mom’s 830 credit score, we are looking to finance a distressed duplex, renovate, live in one unit and put the other unit on Airbnb. During our search, we have been discouraged by the opinions of many who say that we missed the boat on the Charlotte market. We both work in Charlotte and would like to live here. Did we miss the boat, or is finding a gem that we can cashflow still possible?

Okay so it isn’t me, but my mom. We are interested in purchasing a multi-unit property in Charlotte, NC and live in one of the units, and plan to rent out the other rooms or list them on Airbnb. She currently has a a very low-paying job, but has $95,000 in savings and an 830 credit score. She was approved for $115,000 from a big bank, but she is not allowed to use it for investment purposes. Are there any specific banks or loans we should be looking for? I have been researching multi-family fha’s and 203k loans. Also, I was wondering where I can find off-market deals from wholesalers. A four-unit building would be ideal, but I have not found many in the Charlotte area online. Are we looking in the right direction for our first investment property? Any input would be greatly appreciated, I don’t want to steer my mom in the wrong direction.