All Forum Posts by: Chris T.

@Travontaz Lowry - Welcome to BiggerPockets!

Like @Alberta Eleazer mentioned, there are lots of local meetups here in the Charlotte area to meet others and learn what they are doing.

I invite you to come out to our next monthly networking event of local BiggerPocket members here in Charlotte next week.  It is a great chance to meet other investors, wholesalers, etc.

Charlotte, NC REI Networking Meetup - Tues. July 2nd

If you can't make it out, be sure to check the "Events" section under the Network menu for other upcoming events.

@John Weir - Welcome to Charlotte!  

I invite you to come out to our next monthly meetup of Charlotte area BiggerPocket members.  It is a great opportunity to meet others in the area.

Charlotte, NC REI Networking Meetup - Tues. July 2nd

@Alberto Gonzalez -  I encourage you to come out to our next monthly meetup of Charlotte area BiggerPocket members.

Charlotte, NC REI Networking Meetup - Tues. July 2nd

It is a great chance to talk to other active investors here in the Charlotte area.  You can hear what others are doing and ask your questions to multiple people at once.  

If you can't make that meetup, there are plenty of others in the Charlotte area happening almost daily.  They are a great way to network. 

@Shane E Haffey - Be sure to check out the "Events" Section under the above "Network" menu for all the different meetups with BiggerPocket members.

There looks to be a Lake Norman meetup scheduled for tomorrow night in fact...   Lake Norman Meetup

@Wyatt Kalapp - Welcome to Charlotte and BiggerPockets!

I invite you to come out to the local meetup I host for Charlotte area BiggerPocket members.  It is a great opportunity to connect with others and hear what they are doing.

Charlotte, NC REI Networking Meetup

If you can't make this one, there are lots of other local REIA/Real Estate meetups here in Charlotte. There is probably some sort of meetup happening daily. Attend a few and make lots of connections.

Best of Luck!

@Louis Walthall - I have been in a very similar situation.  Like @George Pauley said, you will get better terms if you keep purchasing in your personal names.  

If you do want to purchase directly through the LLC you will be talking with the commercial lending side of the bank. You will be looking at 5 year term / 20 year amortization loans most likely and you will most likely still be needing to give a personal guarantee on the loan.

WHAT:         Casual Networking Meetup of local Charlotte, NC area Real Estate Investors

WHO:           Investors of all levels and experience

WHEN:         Tuesday July 2nd  @ 7pm - (1st Tuesday of Every Month)

WHERE:       Resident Culture Brewing Company, 2101 Central Ave Charlotte, North Carolina 28205

Come enjoy a beer, share what you are doing or hoping to do, and learn from other investors in the Charlotte area! Everyone is welcome and encouraged to come out to meet other local investors. It will be an informal get together with good beer and like-minded investors of all stages.

There are often other groups at the brewery so look for a small "Reserved" sign at the end of a table to help identify the group.

** Please be sure to comment below so even those using the mobile app can know who is coming! Also, let us know who you are hoping to connect with or what you are hoping to talk about **

As of about 2 years ago, the 3 biggest institutional SFR owners in the Charlotte area were American Homes 4 Rent, Colony Starwood Homes, and Invitation Homes.

https://www.charlotteagenda.com/82814/charlotte-neighborhoods-bought-sold-wall-street/

At the time, they owned 7000+ SFR in the Charlotte area between the 3 of them. Since then Colony Starwood has merged with Invitation Homes so not sure who is #3 now..

Doing a quick look here are some more up-to-date numbers (as of Dec. 31, 2018)

American Homes 4 Rent :        3603     

Invitation Homes:                      4690*   

(*this is for the "Carolinas" which is the Charlotte, Greensboro, Raleigh, and Fort Mill, SC markets)

@Patrick Menefee - I used Ally's No Penalty CD previously but looking just now the Savings account is better.  If you don't plan on using your capital for a year you can get a few more tenths using their High Yield CD (2.6%).  

Like you said, it is better to be safe and liquid if you plan on using the money in the short term rather than chasing returns with higher risk.

@Colin M. -  I just checked it out after seeing your post.  

While I like the concept and thinking it could be a useful tool where everything is setup for an investor, I found their numbers to be misleading.  When searching for "Traditional" (Buy and Hold) rentals, the top listings either greatly under estimated the rehab costs or seemed to have an inflated rental rate.  (Looks like all their data is coming from Zillow).  When you adjust the numbers, their "good deals" don't look so good anymore.

To make it useful, the user still needs to be reviewing all numbers and adjusting them to the proper amounts.  So to me it is still not a "one stop shop" when researching, but again it is a nice concept for those that don't already have spreadsheets/calculators and a research system in place.

Someone who is more active in the short term rental market here might have a better review on their AirBnB estimates.

That's my 2 cents at least after doing a few searches.