All Forum Posts by: Chris T.

Welcome Mike - I have been living in the Charlotte area now for 6+ years although I am new to real estate investing in the past year. My wife and I have two properties that we are currently renting in Charlotte. We are buy and hold investors for the most part. Let us know if you have any questions about the Charlotte area, it has been treating us well so far!

-Chris

Tyler,

Welcome to BP! I too am in the Charlotte area and relatively new to real estate investing. My wife and I have one rental property and are working on our second. Let me know what sort of deals you find!

-Chris

Thanks Jon,

That is a good point about a higher rent and who it actually attracts. My fear about the nice units was that it would be detrimental in the long run in terms of keeping it in that upgrade conition vs having an unit that is more typical for the neighborhood.

I am currently looking into a few properties that are all in the same neighborhood for a Buy and Hold property. There are a few houses that have already been rehabbed (some by owners others flipped by investors) that are about $10-20K more than average condition homes (on $100-120K houses). These houses have granite in the kitchens and new bathrooms along with new HVAC systems.

My question is would it be better to buy the already rehabbed property knowing that I am paying for the extra work and upgrades with the hope for attracting quality tenants faster as well as reduced maintance/repairs? I am not in the position to buy a fixer upper as I travel with work and am a part time REI. In looking at the numbers the the additional rent needed to cover the upgraded houses would still be within the recent rental comps but towards the upper end.

Has anyone else been in a similar situation? What route did you choose? Does the nicer condition/features of a rehabbed home present bigger problems for long term upkeep compared to more "average" homes?

Hi Keela,

My wife and I just purchased our first investment property about 6 months ago here in Charlotte, so we are on the beginners side of investors. So far things have been going well for us and hope to be in the market for another property in the near future. I am always trying learning about real estate investing and the Charlotte market. I am not sure if I can help in any way, but let me know.

Hey Coley,

Welcome. I just recently posted a similar "New Member" post as well. My wife and I are early 30's and just had a daughter in January. We also live in Charlotte and have one property here in the area. We too are hoping use what we are learning to expand into new investments here. This site has been a great source of information so far.

Good luck to you and your wife with the up coming arrival!!

-Chris

Hello, I have been a member of BP for a little while now, but never made the introductory post. My wife and I have lived in the Charlotte area for a while now and purchased our first rental property this past year. We are currently managing our property and learning a great deal in the process. We are hoping to further grow our portfolio as we are able to here in the Charlotte area.

My work schedule doesn't allow me to attend any of the local REIA groups so I am looking forward to learning and meeting others here on BP.

My wife and I have had a lot of success renting our primary residence through AirBnB.com. We have rented it out ~20 times for a on average a few days at a time with absolutely no issues. AirBnB has incredible customer service if there ever is an issue. I would highly recommend using them if you are looking to rent out for very short periods of time. They charge 3% on each transaction which I think is pretty reasonable. They even sent someone out to our house to take professional photos free of charge. If you have any other questions about using them or the process feel free to contact me.