All Forum Posts by: Preeti Kale

If you're looking for a 0.0075 rent to cost ratio, there should be some of that in Augusta. Of the markets you mentioned, Augusta area is the least expensive. Depending on what class of neighborhood you're looking for, you can do better than the 1% rule in Augusta.

Hey Erin,

Thanks for you reply! I did find a couple properties in Augusta with positive cash flow but not very interesting... definitely looking for B class neighborhoods.. If you have any listings can you send it my may.. would love to connect

interested in 2/2 or 3/2 under 250K.

thanks

Preeti

0 Votes

Charlotte, North Carolina

Any investors, agents that I can find here are investing in Fort Myers, FL?

I just started researching this market and can find houses (2/2) under 250K which can produce 1800 to 2200 in rent. This is the first market I found with positive cash flow out of all the others I researched so far(Charlotte-Nc Asheville-NC, Augusta-GA)

appreciate any insights from the investors who invest in this market.. any pitfalls to watch out for ?

1 Vote

Charlotte, North Carolina

Hello Nikita! you have just said all the hurdles I'm going through while analyzing deals in and around Charlotte. So far I haven't found any deals with positive cash flow, and I have analyzed manyyyy.

As Bonnie Low said, all the resources we have are definitely overwhelming and making me look into different markets just to find cash flow.

Mohammad.. would love to connect with you as I'm looking at something exactly what you explained around CLT (which is hard to find)

0 Votes

Greensboro, North Carolina

Quote from @Hamp Lee III:

Did you run your numbers through the BP rental property calculator? If so, do you mind sharing? This might help the group…

In a lot of markets, duplexes under $200K eequire extensive rehab and may be in less desirable locations.

What about SFHs? Have you considered them as well? That might open the aperture for you and be a better entry point.

My recommendation is stay closer to home when starting out…unless you have a great team.

I wish you all the best.

@Hamp Lee III: yes, i ran numbers through BP calculators.. not sure how to share them here.. thanks for your suggestions

0 Votes

Charlotte, North Carolina

Quote from @Sheri Fluellen:

@Preeti Kale, I feel your pain!! I've been investing for many years and often it's hard to find something cashflowing on the front end. Don't be discouraged!! Some simple things to think about- can you charge back utilities to tenants? This has made the different on some of my properties. Can you start with one of them as a furnished rental? This has significantly increased my income (although there is an additional learning curve). Can you create another unit somewhere- like in a basement or create a large bedroom into a small efficiency? Be creative and that helps!

@Sheri Fluellen: Thank you so much for your reply Sheri...by back utilities do you means HOA fees? as you know the HOA is killing the deals in our area.
True.. being creative and adding value to the property will help tremendously in this market, as it is so hard to find deals with equity anymore

1 Vote

Charlotte, North Carolina

Quote from @Angie Castro:

Hey Preeti, Local realtor here. I will agree with you. It is tough to find properties that cash-flow and specially multi-families due to the demand for them and lack of multi-family inventory in Charlotte. Now is it possible? YES. Is it hard? Absolutely. I just got my clients into a duplex that will cash-flow but they need to put around $25k into the property.

Other option is getting a single family property in a very good location and that can bring cashflow. It's easier than to find a multi-family that cash-flows but you do need to know where to look. I suggest you take a look at the outskirts. Take a special look at properties that are being sold by hedge funds. Not like open-door. You can usually tell because they put a disclosure in the description. Those houses tend to have cashflow and good pricing but the funds only sell through a quick claim deed.

Angie, thank you so much for your reply, so far i explored Gastonia, Matthews, Balltantyne, Fort mill areas... any areas that you suggest in the outskirts? I will explore the hedge fund option more.

0 Votes

Charlotte, North Carolina

I am seeking if there is anyone in and around Charlotte, NC who I can partner with or assist and help while learning the wholesaling process. I am eager to learn and will be more than happy to provide any value to your wholesaling business. Thanks!

3 Votes

Charlotte, North Carolina

New to investing.. have been following bigger pockets for couple weeks and been blown away with the amount of content they have.

I started looking at deas in my home town(Charlotte, NC). Single family or 2-4 unit multifmaily. I analyzed 3-4 deals but I'm getting negative cash flow. i need help with two things:

Property range - 200K-300K, 20-25% down will be from the HELOC loan from my current home, which will be at 10% interest. The rest 200K-225K will be loan at 6.5% interest. In the area, Im looking to buy the rents are anywhere between $1700-1900 for a 2 bed home. When i analyze the deal I'm getiing negative $300 without putting in the cost of HELOC Laon. I'm I doing anything wrong here ? Is everybody putting money down out of their pockets?

Should i change my location and see if i can get 2-4 unit deals under 200K? as a newbie do you suggest me going out of state?

Any suggestions/advice and help from this forum will be greatly appreciated

Thanks

Preeti

1 Vote

Charlotte, North Carolina

All Forum Posts by: Preeti Kale

Preeti Kale has started 3 posts and replied 8 times.

Post: Fort Myers, FL

Post: Fort Myers, FL

Post: Cash Flow in STR vs MTR

Post: Starting out obstacles

Post: Starting out obstacles

Post: Starting out obstacles

Post: Newbie in Wholesaling

Post: Starting out obstacles