All Forum Posts by: Lily Rodriguez

Bubba,

I remembered helping my client sell his house a month after his son graduted from college. He said it was the best move he made as he walked away with a big check from the appreciation from the house his son lived in for free. 

I recomend getting the lowest price new construction house near the college your sons are going to. A 4+ bedroom will be great so they can rent the rooms to other college students in the area. There are websites where you can list the share rooms for rent.

If you can't find a new construction house try to get a house built 2000+ year to avoid repairs as much as possible. I will also take out all carpet if any and replace it with LVP floorings that way when you are ready to sell it you will only have to paint the house and minor repairs to put it on the market for sale.

I hope that helps.

Best regard,

Lily Rodriguez - Investor friendly Broker

Marcus,

If you want more exposure you can list it on the MLS, and you will have to pay a fee to the agent that brings you the tenant then you will have to do a credit check and background check yourself for each applicant however for my clients I prefer to list it on Zillow rentals only, because I can manage the applications directly from there and the prospective tenant only pays $35 application fee once and can apply for different properties with the same application fee. It's a win win for everyone.

I don't do property managment, we do free tenant placement for all our investor clients that purchase a house with us.

Also you can put it on Facebook Market place for more exposure and then redirect them to the zillow link for more information and application process.

I hope that helps.

Best Regards,

Lily Rodriguez - Investor friendly Broker

Quote from @John McDonald:

@Lily Rodriguez Charlotte is in deed a great market. We're showing more than 250 undervalued properties and the Charlotte market is experiencing strong growth. 

A Flip or BRRR strategy for finding an undervalued property for LTR would be ideal in this market.

Best of luck. 

 John, 

Yes long term here is Charlotte it's been very rewarding for our investor clients and ourselves. Thinking Long term is the key.

Thank you for your response.

 I agree with you about the market here, however we had a 5% Appreciation rate each year consistently and that's not likely to go down because of the city growth and the amount of new develpoment and zoning changes. Charlotte has now a new density zoning allowing for expansing and growth.

 It all depends on where you are looking. It's a great place to invest but I did not said it was not competitive. It's almost impossible to simply find a good deal. You must create the deal. For example with land, we helped a client find a buildable lot for $10,000. He purchased a house with a big enough lot to subdive then we put the house right back on the market for the same price he bought it at. The land wasn't for sale but the house with the big lot was and we got creative. That is why working with a good investments agent is necessary. 

Hi Miguel,

Is Charlotte NC a good place to invest in Real estate?

In order to understand the city we must first know a little more about the State of North Carolina and how it differs from the rest of the country.

North Carolina has a very low volatility with stable returns of your investment.

North Carolina is worth the investment because of our high occupancy rates and a high demand for rental homes, the local real estate investors love the historically performance stability, specifically single family homes.

North Carolina has very good reputable colleges and universities, that’s the reason a lot of people make their move to NC and want to just rent a house until they get acquainted with the area.

Charlotte’s home prices compared to states up north are dramatically significant.

Let's compare the difference between down payments only, of course there’s more to the money involved and variables on interest rates and type of loans you are using.

Let’s just stick to down payment as a passive investor. (No creative financing involved)

As of December 2023, the median listing price for a home in New York City is $799,000 down payment needed if using 20% = $159,800

As of December 2023, the median listing price for a home in Charlotte, North Carolina is $419,900 down payment needed if using 20% = $83,980

Here are some reason why many out of state investors love to invest in Charlotte NC

• -Charlotte has a reasonable cost of living and it’s lower than the national average.
• -Housing, utilities and food cost are around 14%, 8% and 6% compared to the national average making it a great place to live for families, college students and people looking to retire.
• -Charlotte has a high occupancy rate across the state and it’s hard to get tenants into it because if the house is properly marketed and maintained it will rent as quickly as a week or two depending on the price range and the location.
• -There is a high demand for high quality and reliable single family homes
• -Charlotte has affordable housing options
• -The median listing price per square foot is $244. In December 2023, Charlotte was a seller's market, meaning there are more people looking to buy than there are homes available.
• -Charlotte is one of the top 20 fastest growing cities in the country
• -The weather is amazing we have all four season and mild winters
• -Strong financial industry where many of the big banks have their headquarters.
• -We have people from all the states moving to Charlotte everyday about 113 people move to the Charlotte region every day to be exact according to Charlotte Region Business Alliance
• -Majority of the population in Charlotte is 25 to 34 years old, which is important because they are looking for a rental properties.

In order to understand the city we must first know a little more about the State of North Carolina and how it differs from the rest of the country.

North Carolina has a very low volatility with stable returns of your investment. North Carolina is a Lanlord friendly state.

North Carolina is worth the investment because of our high occupancy rates and a high demand for rental homes, the local real estate investors love the historically performance stability, specifically single family homes.

North Carolina has very good reputable colleges and universities, that’s the reason a lot of people make their move to NC and want to just rent a house until they get acquainted with the area.

Charlotte’s home prices compared to states up north are dramatically significant.

Let's compare the difference between down payments only, of course there’s more to the money involved and variables on interest rates and type of loans you are using.

Let’s just stick to down payment as a passive investor. (No creative financing involved)

As of December 2023, the median listing price for a home in New York City is $799,000 down payment needed if using 20% = $159,800

As of December 2023, the median listing price for a home in Charlotte, North Carolina is $419,900 down payment needed if using 20% = $83,980

Here are some reason why many out of state investors love to invest in Charlotte NC:

- Charlotte has a reasonable cost of living and it’s lower than the national average.

- Housing, utilities and food cost are around 14%, 8% and 6% compared to the national average making it a great place to live for families, college students and people looking to retire.

- Charlotte has a high occupancy rate across the state and it’s hard to get tenants into it because if the house is properly marketed and maintained it will rent as quickly as a week or two depending on the price range and the location.

- There is a high demand for high quality and reliable single family homes

- Charlotte has affordable housing options

- The median listing price per square foot is $244. In December 2023, Charlotte was a seller's market, meaning there are more people looking to buy than there are homes available.

- Charlotte is one of the top 20 fastest growing cities in the country

- The weather is amazing we have all four season and mild winters

- Strong financial industry where many of the big banks have their headquarters.

- We have people from all the states moving to Charlotte everyday about 113 people move to the Charlotte region every day to be exact according to Charlotte Region Business Alliance

- Majority of the population in Charlotte is 25 to 34 years old, which is important because they are looking for a rental property.