All Forum Posts by: Laura Shinkle

Welcome to BP @John Weir! The license loopholes are fun, aren't they? :)

@Anthony Maldonado that's up to you. You never know what life is going to throw your way. Just have to make a decision with what you've got. 

@Gabriel Pais we don't really have a problem with getting people to move to Charlotte lol...the last statistic I heard was over 100 people a day. And investors are everywhere, with varying levels of experience.  The problem is affordable housing and a single condo is more affordable than a duplex or quadplex. Also there is more profit margins for a developer if they split it up into townhouses versus sell the building as a quad or 5 plex.

Depends on what you're trying to do. There are a lot of different strategies and some neighborhoods are better suited for certain things than others. 

If you aren't solid on a plan yet, I suggest looking through Realtor.com to find which areas have price points that are close to what you're looking for and see what properties are selling for/renting for. Then check out those. 

I echo @Chris Martin's suggestion. I myself got my license to get myself into the industry and learn more. Getting your license is fairly inexpensive as far as career changes go, and as long as you work hard, it will be rewarded. 

Being an agent will help supplement your income for your family and will put you in a better position to help your clients, either wholesaling or selling on the market. Even if you don't use your license to be a traditional agent, it will give you a solid foundation. This industry, whether you are an agent, wholesaler or flipper requires initiative, patience and a lot of education. 

Hi @Zachary Whiteside just a sidenote that I've come across while working with investors...most banks will not finance the rehab work, just the initial purchase. So make sure you ask about that! We have worked with South State Bank in the past and they've been great to work with. Also double check the timeframe it takes them to close. Some credit unions take 45 days to close and that long of a close can be the reason a seller picks someone else's offer over yours. Just my two cents. Good luck!

Well as far as neighborhoods go, it depends on your price range and comfort level for classes of neighborhoods. University/Northlake is good because there is a steady stream of tenants and the average price is a little lower. Southend/Southpark areas are of course very popular neighborhoods so tenants would be easy there as well. Wesley Heights and the surrounding neighborhoods on the west side of Charlotte are a little more transitional but up-and-coming. Steele Creek is also a little more affordable and a good location IMO.

Hi @Gabriel Pais and @Emmett Burton you're both right, the multifamily market here in Charlotte is minimal at best. They really don't build these types of properties here. The ones that are out there are few and far between. Either far out from Charlotte in surrounding towns and needing work or if they are in Charlotte, they won't cash flow like most investors are looking for. 

And Emmett, believe me I wish they would build them. However, splitting these buildings into individual townhomes/condos is more profitable than selling as a quadplex. It also makes it more affordable for the everyday buyer looking for a home. 

Hope this helps! The single family home market is doable from an investor standpoint, but multifamily is a waste of time here, IMO. 

How much cashflow are you looking for? Single family/townhomes/multifamily properties? Are you willing to do remodel work or do you need turnkey properties?

Hi @Davin Burnell, it totally depends on your strategy (buy and hold vs BRRRR vs flipping, etc). Buy and hold I believe is the easier option since that market is so crazy. Buying distressed properties to flip is hard to find. This market requires patience and readiness to act. Hope that helps