All Forum Posts by: Laura Shinkle

@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?

@Lisa Smith I love the strategy. I think it's a great one for people just starting out. It's an easy way to build cash quickly when you live for free or are even paid to live there. Southpark/Plaza are great locations, each offer different things. They are similar price points, although Southpark is on average probably higher than Plaza Midwood. 

One other thing to think about with the lending. If you do go 100% financing, that interest rate will most likely be higher than with a down payment option. If you don't have cash to start out, it's certainly amazing and gets you started. I wouldn't recommend it, though, if you have options. Just my two cents!

Hi @Lisa Smith welcome to Charlotte! It's a great city, lots of growth, young professionals and plenty to keep you entertained! My husband is actually in HR as well! Small world.

As I'm sure you've noticed, there's a ton of different ways to invest and tons of financing options. The trick is to narrow it down to what works with your finances, goals and comfort level. The most important thing is to start!

What area of Charlotte are you looking at for investing/living?

@Levi Bennett those are some good points. Another aspect of FL getting hit harder in the recent crash was I imagine a lot of those homes are second homes to snowbirds...Up north in the summer and south for the winter. When the crisis hit and you have to give up one home, it isn't going to be your primary. Florida also has a lot of investor owned property, so same conditions apply.  

@Nicolas Lovely gotcha! Yes, completely agree with you and hopefully that's a one time per property, max, situation! lol

Hi @Zach Crews welcome to BP! You've got to start somewhere, so dive in! Have you thought about what your strategy might be as far as what kind of property you're looking for. The Charlotte market is great, but definitely great for some types of properties over others.

There are quite a few meetups in the Charlotte area that @chris t hosts every month. Check them out!

@Nicolas Lovely there is always that risk with an HOA, whether the fees are small starting out or not. And special assessments are always a risk, whether the fee is low or not. Looking at what the HOA pays for and doesn't pay for as well as amenities in the community should give you a good idea of what a typical monthly fee should be and go from there. Every property is different.

Just for clarification, what exactly is the fair bit of assistance that you would get from your insurance policy? If the HVAC or water heater breaks, your landlord's policy won't help with any of that. Sure, if a tree falls on the roof, that should kick in. But general maintenance of the property wouldn't be covered by insurance, and an HOA in a condo would do exterior maintenance including landscaping.

Bottom line there are pros and cons for both, and every investor is different as far as what they're looking for and how they want to invest. There's a million ways and as long as the numbers make sense, go for it.