All Forum Posts by: Laura Shinkle

@Victoria Coleman that is definitely an interesting strategy, the first mention I've heard. I'd be interested to see where that goes! I was under the weather for this last meetup but hopefully will be able to attend the next. 

Hi @Victoria Coleman welcome to Charlotte and to BP! I like that you're willing to adjust your strategy the more you learn. There are a million ways to invest and not one blanket approach for everyone and every market. You'll find multifamily properties in Charlotte a challenging thing to find. They really don't exist much here, at least not your traditional multifamily that you're thinking of. Hopefully we will get a chance to meet at a meetup soon! What part of Charlotte are you in now?

@William Boeklen you're welcome! It took me a while to find it too. There's just so much info on the site that navigating it can be a bit challenging.

Hi @Barbara Harrison, just curious where you ended up! Have you moved forward with the Clemmons area?

Hi @William Boeklen, welcome to Charlotte! There is also a NC specific forum. https://www.biggerpockets.com/forums/575-north-carolina-real-estate-q-a-discussion-forum

Good luck!

Hi @Christian McKinnon, that's a great question. In my experience, you just need a great lender that can use different sources of income. I'll send you a DM with some contacts if that would be helpful for you! I think it's wasting time, especially in this market, to try to save up to be able to purchase with cash. Charlotte is appreciating well above average, especially in the more affordable price ranges. With interest rates as low as they are, it's a no brainer for me. Find a lender that will work with your situation and go from there. Just my two cents!

@Terrell Garren I think it just depends on what your criteria is as an investment. Charlotte may not be a great area based on the criteria that you have, but it does fit some investors. I currently work with several investors who are happily finding properties that work for them. I also work with a lot of first time homebuyers who are, ironically, being out bid by investors, so it's all about what you're looking for. Of course comparing it to the market after the crash when people were being foreclosed on right and left is no comparison. To each his own, and I'm glad you're still finding things at auction! Just my two cents :)

Hi @Jeff Fortuna, congrats on building your portfolio thus far! That is no small feat. As far as markets, Charlotte is pretty hot, growing exponentially with 97 people moving here every day. Our economy is very diverse, not relying on one industry and lots of large companies opening offices here. That being said, the market for 50-100 unit apartment complexes is very tight with not much inventory. If you're interested, I can put you in touch with an agent who does those type of deals since my specialty is more SFH and 1-4 unit buildings. Let me know what you think or if you're interested. Just my two cents!

@Justen Johnson that situation can get really sticky. If the seller stays after closing, you need it in writing. He is essentially becoming your tenant at that point. You would need a rental agreement and an agreement to amend contract stating he is staying until 10/9. Also, how much are you saving, is it worth it? What happens if he doesn't move out as stated? Then you have an eviction on your hands. Also, are you letting him stay for free or are you going to charge him rent? All things to think about! Do you have an agent working with you on this or are you representing yourself? If you have an agent, they should be advising you on all this. If not, talk to your closing attorney. 

Hi @Justen Johnson. Am I right in understanding that you want to still close on 9/30 and then allow the seller possession after closing until 10/9? Was this part of the original contract? Or was the original settlement date 10/9?