All Forum Posts by: Laura Shinkle

100% consult an attorney. Issues arise with lifelong tenants because they know the law and often times DIY landlords do not. If that ever gets to courts, a judge will rule in the favor of those that knew the laws. NC is in general favorable to landlords, but you have to make sure you've followed the right procedure to get on the court's good side. 

@Alex Murphy for your individual circumstances, you really need to consult an attorney that can advise you and a CPA that can tell you any tax benefits. Like was previously mentioned, I don't think LLC's provide any tax advantages vs owning in your name. You'll also find it challenging to get funding for a property through an LLC. If you would like an attorney recommendation here in Charlotte that can explain your options, I'm happy to connect you. @Charlie Lane is also an attorney here in Charlotte and on BiggerPockets.

@Chuck Hollowell have you been able to find a lender that can do what you're wanting to do?

@Lauren Olson as you can see, there is a TON of debate on local vs OOS investing. Like I tell my clients, it really depends on why you're investing and if you're willing to compromise and try a different strategy to get in the location you want. Questions to think about:

• -What are you hoping to gain/learn from the local investment that you can't learn from OOS investing?
• -What type of investing DOES work in my local market (for this, get a recommendation for a local investor friendly agent in your area. Happy to provide that)
• -Does the local investment strategy that works appeal to me?
• -Will you be able to trust the team that you build out of state or are you going to have to take a trip to that area? Is that feasible?

In my opinion, as long as you have a team that you trust (which you'd most likely want locally anyway) then stick with your strategy and build a team that you can trust in a market that gives you what you're looking for. I disagree that it's riskier to do a deal that is not in your local area. If you're buying your first property and don't know what you don't know, there is always a risk whether you can physically visit the property or not. 

Just my two cents.

@Tim Vest welcome to forums and out of the lurking mode! lol Ask all the questions you like, there's plenty of great people on here to chime in with their thoughts. Good for you for getting back into the market after your hit in 08. I've met a lot of people who, after being burned once, never want to deal with REI again.

Are you wanting to invest in the local market or out of state?

I can't speak to the entire state, Charlotte is my turf. One big reason Charlotte is so popular right now is that from a lot of different angles, it is a sturdy, diverse economy that is rapidly growing. More people are moving here every day than we are building homes for so the price of homes, especially in the affordable price range, is going up. Our year over year appreciation for the Charlotte region is over 8% on average and some zip codes have seen a 30%+ increase year over year which is INSANE! With prices where they are and rents also increasing, you can still stand to cash flow as well, although there are certainly other areas of the country that have better cash flow. This market is a happy medium between appreciation and cash flow. 

As previously mentioned, we have been known as a banking city and of course that is still strongly rooted here. There are also more and more diverse industries moving headquarters to Charlotte or companies that have been here a long time (Lance) that are growing. Click HERE for a list of Fortune 500 and 1000 companies in the Charlotte region.

As also previously mentioned, NC weather is very mild compared to other areas of the country. Charlotte was actually ranked in the top 10 cities in the world for quality of life, alongside Raleigh, in a recent study from the user-contributed database website Numbeo. Click HERE for that article reported by the Charlotte Observer.

Just a few things about our area. Hope that helps!

@Taylor Phillips NC is an all bar state. Only attorneys can do closings, not through just a title company. Harry Marsh Law is usually pretty good and he is very responsive to clients.

@Lisa Smith definitely! Appreciate that W-2 income! lol

Hopefully we will get to meet at one of the meetups coming soon!

@Lisa Smith currently my investments are in the Asheville area (that's where I'm from) but I'll be looking to purchase in the Charlotte area this year. Being self employed has made traditional financing a little challenging for me!

Hi @Jessica Franco, I work in the Charlotte area, anywhere within 50 miles of center city. I don't blame you guys for wanting to move, that's quite the trek to Albemarle! 

Are you an active agent in sales or do you hold your license for investment purposes?