All Forum Posts by: Chris T.

@Wyatt Wolff - I would recommend starting with the local credit unions. Truliant and Charlotte Metro have had great rates in the past. I haven't worked with them recently on SFR loans, but that's where I would start.

Just a quick reminder for all those that have signed up (and those that haven't).  The next Charlotte area Networking meetup is tomorrow night (Tues. Feb. 4th @ 7pm).

So far it looks as though we will have another great turn out!  I am looking forward to meeting everyone.

@Jessica Franco - Welcome to the Charlotte area!

I am more familiar with the Concord/Harrisburg areas (lots of positive things happening), so I could try to help answer any questions there.  

@Chris Sellers I believe has/had properties in the Albemarle/Midland areas so it might be worth reaching out to see if you can connect with him.

The good news for you is small multi-family properties are a little easier to come by outside of Charlotte than anything inside the 485 beltway.

How soon are you looking to make the move?   

Welcome @Lisa Smith!

There are quite a few active members here on BiggerPockets here in the Charlotte area.  

If you haven't seen it already, I invite you to come out to a local monthly meetup I host for local members.  It is a great chance to meet others in your position as well as those that have been investing for a while.  Come hear what others are up to and ask any questions you might have.

Charlotte, NC REI Networking Meetup - Tues. Feb. 4th

If you can't make it next week, be sure to check the Events section here on BiggerPockets as there are lots of other meetups in the area as well.  

Hope to see you there and best of luck!

Hey @Aris Azar and @John Maxx @Chris Plummer @Brian Reed

Welcome!  There are quite a few active investors here on BiggerPockets from the Charlotte area so a lot of good local knowledge.

I also invite you all to come out to the local meetup I host for members here in the area.  It is the 1st Tuesday of every month.  

Charlotte, NC REI Networking Meetup - Tues. Feb. 4th

They are always a great opportunity to hear what others are doing and ask any questions you might have.  I hope you can all make it, but if not be sure to check the "Events" section here on BP as there are other local events as well.

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

WHO:     Investors of all levels and experience

WHEN:   Tuesday February 4th @ 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. Our tables are often just left of the door coming from the parking lot.

PARKING: there is some parking right at the brewery, but it can fill up. There is an additional overflow parking lot just a few doors down Central Ave. at Landis Ave.

** 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 **

***  NOT A CPA (probably best to consult one) ***

From my understanding, you should have record from your past years taxes what you have claimed as depreciation on the buildings over the past 19 years.  If it has been pretty straight forward, then it should be close to 19/39 or ~50% of the original basis (value of your building, not the land) at the time of purchase.  I don't believe the refinances change that except you might have been able to add some of the associated fees to your basis (again, your past tax returns will tell you what was done).  That amount will have to be recaptured as well as the capital gains on the appreciated value.

If you want to avoid delay the tax bill, you can always roll your proceeds over into a like kind purchase through a 1031 exchange.

Hopefully some of the real tax experts here on BP can chime in

@John Gouani - Glad that you will be able to make it to the meetup.  These are setup to be informal and a great place to hear what others are doing and ask any questions you might have.

Hey @J. Tyler Copeland

I host a monthly meetup of BiggerPocket members here in Charlotte that I invite you to come out to next week.  There is always a good group of us that are at all stages in their real estate investing adventure.  It is a great opportunity to hear what others are doing and ask questions.

Charlotte, NC REI Networking Meetup - Tues. Jan. 7th

@Evan Erwin - I was a little late this month, but I just posted this morning for the monthly local Charlotte real estate investing meetup I host.  It is the 1st Tuesday of every month.

Charlotte, NC REI Networking Meetup - Tues. Jan. 7th

Hope to see you there