All Forum Posts by: Robi Schreckhise

@Thomas Reed The market is extremely competitive right now in Charlotte for sure! Are you willing to look in Gaston County or Cabarrus County? The housing is priced more affordably and the competition with other first-time homebuyers is less. The monthly rent potentials are nearly as strong as Charlotte though which makes it a better move for an investor.

 Idk if this helps but I've helped investors buy in these areas with homes less than $150,000 and the rents they are demanding are nearly achieving the 1% rule. More often than not they need renovation work but every once in a while a turn-key property turns up that could cash flow well as a rental!

@Account Closed Very well said and expertly explained!

Hey @Thomas Reed, I have to agree with @Dan Weber if the numbers work, it's a good time. That being said, what specific areas are you looking to buy in Charlotte for $200k? What's your property criteria?

@Tim B. I would highly recommend @Carlos Paz with Five Pillars Realty Group as a great resource. I am available to help as well and am free to talk about the Charlotte market at any time but the Five Pillars team is pure fire! 

@Vik Hogan If you are talking about the new build complex by Lennar, I am helping an out of state investor right now to purchase one himself. I just talked to a property manager about it yesterday. It's a brand new build be done in May 2021, 5/3 and about 2,600 sq ft. This is the response I got from the PM.

-Fair market rent should yield you at least $1,750-$1,850 fairly easily as long as the lot sizes aren’t tiny. So probably about .22+ acre.2. 

-Your pool of renters will be smaller than the city of Charlottes pool of renters but I honestly don’t think it will be tough. It might take a little bit longer but I can’t imagine it being much longer.

The cash flow will not be there but he is banking heavily on the tax write-off each year, the appreciation both natural from the economy and forced from new homes going up in the complex, and lastly, the mortgage pays down by the tenant. With a new build, your repair expenses and capex are nearly nonexistent for the first 3-5 years. I hope this helps and would gladly help out as well if you are interested in it for your purchase and being 'boots on the ground' for you.

Hey @Evan Johnson I am a realtor, have a lifetime of experience in contracting and am partnered with a couple GC's that do renovations on investment properties. Feel free to reach out if you are still on the hunt. I would love to see how I could be of help!

Hey, @Penny Pells welcome to BP! What areas of Charlotte are you looking at and what type of properties are you hoping to invest in?

@Justin Hash I personally vetted GC's for my investor clients that are investing in the Charlotte area and am currently partnering with a GC so I can help my clients to buy a property and help them by facilitating a rehab on an investment property for them. 

I can tell you a few things I looked for when I was interviewing GC's and what I feel is the most important in how I help investors when it comes to investment!

The first thing I looked for was if they are investors themselves or are familiar with investing. This changes things as far as them understanding the level of rehab you want to do for it to be 'rent ready' vs a flip where you want to put in a higher level of renovation to get the best sell price. The second part of it is making sure they are licensed and bonded for sure. The third is that they understand that speed is king. They have to get the renovations done quickly because every day that goes by, costs you money in holding costs. An investor GC or GC that is familiar with investors understand this best.

The second thing is with the Charlotte market being so HOT properties tend to move very fast so you don't have time to wait to get a GC to walk a property before you need to put in an offer so you have a few options here. One is you need a GC that is willing/able to give a rough estimate off of pictures and videos you send and can give you an itemized rehab cost after you are in-contract. Two, you learn how to rough estimate yourself so you have an idea of what your numbers are before you put in an offer, and then a GC can verify your numbers after you are in-contract.

I hope these suggestions help you out and wish you the best of luck in your investment journey in Charlotte!

@Jonathan Lopez

I am a local real estate broker in Charlotte, NC. About 20 miles from Concord, NC. I work exclusively with real estate investors from across the country to help them invest in the Charlotte market and surrounding suburbs. Quite a few of them are from California. I would love to jump on a call with you sometime to talk about the opportunities here and see if this area would be something you are interested in. Just let me know

@Dillon Nimako

Welcome to Charlotte and BP! I love the goal you have set for yourself for 2021. I am a real estate broker that specializes in working with real estate investors. I work with investors both locally and out of state to invest in the Charlotte area. I can connect you with lenders, property managers and general contractors all depending on what you need and your investment strategy!