All Forum Posts by: Natasha Rooney

Hey Natasha,

It is a great place to start, plenty of inventory whether its for flipping, BRRR-ing, or holding at affordable prices while still having decent rents (with or without section 8)

With that, it is a pretty competitive market. I would make sure you have a good team ready to go and be ready to pounce whenever the opportunity presents itself.

From the lenders perspective, it can be kind of tricky because there are plenty of properties that cash flow well, but even fully-rehabbed they are less than 100k, which make them difficult to lend on. I am aware of a few options, but you would need to be aware before you get in too far to level with expectations.

Good luck!

Hey Christian, 

I am a born and raised Charlottean and having great success for my investors and I In the Submarkets of Charlotte. Where there is still meat on the bone so to speak. Gastonia, Kannapolis, Concord, Monroe, indian trail etc. are some of the hottest fastest growing suburbs where there is still room to get a "deal". 

Would love to be a resource, feel free to reach out with any questions at all. I'm a licensed general contractor as well so anything construction related as well give me a shout!

 HI Christian,

NC is a great area to invest and ever growing so you picked a great place for it.

There are a few great cities that come to mind:

- Charlotte, NC
- Raleigh, NC
- Chapel Hill, NC
- Ashville, NC
- Emerald Isle, NC

I have lived in NC for 29 years and always happy to chat. Feel free to DM me to connect and hope the hunt goes well.

Best,
Ace

@Natasha Rooney@Natasha Rooney

just to be blunt:

1. OOS investing is much more difficult than advertised.  there are numerous recent threads on BP by folks who bought something because it looked nice, or an agent recommended it, and they didn't see it themselves and approach it with any skepticism.  they immediately got crushed.  examples:

Baltimore - a path to never-ending pain (biggerpockets.com)
Experience of OOS investing in Cleveland after 1.5 years. (biggerpockets.com)

so, if you're serious about a market - you need to go there in person. if you're not willing to do that, then don't invest there.

2. you're not going to cash flow in the first few years, in any market, period.  not in Alabama, not in California. think about a down payment, closing costs, light repairs, rent ready costs, commission to the property management company, then you fix a dishwasher, then in year 2 the furnace goes.  where is the cash flow?  i say this not to discourage you from investing, but to help set your expectations properly.

my recommendation is always to invest wherever you can be hands-on and in-person.  if your immediate market is too expensive, go a couple hours away.

hope this helps

What's up @Natasha Rooney!  What market are you currently in, and why no interest?

The main thing I am looking for in a market is the right team! Someone is making good money in every market. I am a biased fan of Chicago, Illinois, because of the awesome real estate community here.

Outside of just a good community, I love Chicago because:

1.  In the city, there is a plethora of old multi-family properties that need to be renovated at all different price points

2.  In the south suburbs, there are tons of great single-family cosmetic flips

We do have winter, high taxes, and crime, but like anything else there is pros & cons to everything.  

With the right team, you can be successful in any market...focus on networking and figure out where you might have a competitive advantage with some boots on the ground.

@Natasha Rooney How would having a map overview of a market, showing the average Property Class of each suburban city and urban Neighborhood help you with your decision?

The five most landlord-friendly states are:

1. West Virginia
2. Arkansas
3. Louisiana
4. North Carolina
5. Alabama

 Alabama

Alabama residents enjoy a low cost of living and a thriving economy. The state’s housing is also ranked as the fourth most affordable in the country.

Alabama currently has the second-lowest average property tax rate in the country at 0.4%, which helps investors keep more of the money they earn.

Hi Abdi, I have some friends I can connect you with, particularly a nationwide mortgage broker with great expertise on creative financing and investor dos and don'ts who could be good resources for you without pressuring you into anything.  Give me a shout and I'll connect you with Kyle.  Another business partner of mine is a marketing pro who helps investors anticipate which properties will book out well and which ones might struggle, provides some creative design tips too, if you're into STRs at all.  Both of them will answer any questions you might have without any judgment.  This is how we all learned!