All Forum Posts by: Levi Bennett

The problem is with Gastonia is this: (it's not the commute, because it's not far from the international airport, and you can be in Charlotte in the same amount of time it takes from Rock Hill or Lake Norman (two exploding areas)..) the problem with Gastonia is taxes and mismanagement of infrastructure funds. Gaston county has the highest taxes in the state, even more than Mecklenburg (Charlotte proper) and some of the worst schools, and inefficient government. Yes, it's gotten better, but mainly because the surrounding areas that have done a good job of trying to accomodate the massive growth in the region have gotten so expensive. You're better off investing in Kannapolis, or Waxhaw/Marvin area. These towns have focused heavily in defining themselves as towns, have low taxes, and you get a lot more for your money in those areas. 

Kannapolis has a totally revitalized town square, and a massive research park downtown that is establishing themselves as a medical research authority in the region with very low prices to accommodate investment.

Waxhaw has some of the best (if not the best) public schools in the Southeast. They teach Mandarin Chinese from Kindergarten through High School for example. I met an investor who moved from Scotland recently and chose Waxhaw over everywhere else in the country because of the economy of Charlotte and the public schools. 

My company works with a lot of investors (we manage their property) and the brokers that they use are our partners and this seems to be the sentiment across the board. Gaston is lagging. If you want to invest in that area Lincolnton would be a better bet because of the new Hwy 16, lower taxes, better schools, and not far from the West side of Lake Norman. 

That's just my .02

Also, I know Ronald Logan on BP is starting a new meetup in Mooresville. 

There are several real estate investment meetups, none are themed or geared for bigger pockets people. I'm going to one tonight: https://www.meetup.com/Charlotte-Real-Estate-Deal-Maker-Sessions/

Boy this is a loaded question. I would really start by narrowing down your long term goals. Are you trying to make a quick buck or are you in it for the long haul? That one question alone should narrow down considerably the types of markets you want to be invested in. There is a market for everybody in real estate, it really depends on you. 

Hey man, just saw this.. I guess I'm interested in finding out more about it? Do you have a summary or something on this? 

@Chris Martin I wish we met earlier. I did buy a franchise, however, I got it at insane price and had a limited time to make a decision. I could probably still sell it if I needed to. 

To clarify one thing here, it was my understanding that in NC there was no limit to the amount of companies that a BIC can manage, as long as they're registered at the same address. NC seems to have this antiquated brick-and-mortar model, but they do not cap the number of brokerages that can be registered at that address. So, for instance, my company is going to focus on management, the BIC has a buy/sell enterprise, and they're both based in the same office. We're basically the Property Management extension of her existing agent business. It's not a conflict of interest for the BIC since they operate two different areas of real estate business. I think I've covered my bases here.. 

never say never @Account Closed ;)

If you're willing to buy an older townhome or condo, and deal with the maintenance, you can get better than 1%. I manage a townhome in my company right now that was purchased 8 months ago in Charlotte (Steele Creek area) for $90,000 and makes $1200/mo. Granted, he spends more money on repairs, but.. his tenant is a good tenant.

People can't buy houses anymore hardly anywhere in the Charlotte and Lake Norman area, so qualified people are waiting and just renting expensive homes. Prices are outrageous because inventory is so low.. so if you can buy a rehab for cheap, and do it up right, it would be an amazing buy/hold opportunity. The trick is finding one. Maybe connect with some wholesalers in the area. 

Thank you @Jiri B. Very helpful.. What's the difference between a qualifying broker and BIC?