All Forum Posts by: Stephanie Walker

Hi @Meir Preis, I specialize in MTRs in the Greater Charlotte NC market and have begun to branch out in Greenville and Spartanburg areas. There are plenty of homes in that area that still cash flow with conservative numbers. They aren't easy to find but definitely doable. What areas of Greenville are you targeting? What is your target CoC return and cash flow per month? I'm seeing between 8-11% after (conservative) expenses.

I think it depends. Make sure you hire a team you trust. Our buyers and PM clients trust me thoroughly and I’ve proven myself over and over again. The majority of our clients are out of state. 

Hey Brian, I own and run a PM company in CLT but don't personally know anyone that manages rent by room situations. However, I'd love to chat to discuss your goals on this property and see if we can assist in finding a match.

I can only speak for my own market. Charlotte seems like it would be a great fit due to the amount of construction in the area on the residential and commercial side to aid in your relocation, cost of entry and endless flip opportunities. 

Talk to agents in the areas you’re interested in investing in. They will be your boots on the ground and it’s extremely important that you can trust them, their process and their advice.

I've worked with plenty of out of state investors, run numbers for them and with them, educate them on the best performing locations, furnish properties (if MTR or STR), manage rehabs, etc.

Find someone that will do the same in your ideal market and if they can’t run numbers or don’t sound confident, move on. 
 

You need to proceed carefully and make sure you are working with an agent that knows land and zoning well to make sure that the land is A) buildable and B) able to be a legal multi family.

As for how many 2 stories can be built, that would depend on the size of the lot and what the counties rules/laws are for the type of zoning, what the road frontage requirements are, etc.

I’m a property manager in the Charlotte area. 

I recommend completely unfurnished, though appliances are a huge plus, and have the new tenant move all utilities and internet under their own name.

Lease length is completely up to you. I like shorter terms because it allows us an “out” if the tenant is difficult to work with and it allows us to increase rent if needed.

I'm local to Charlotte and will say that your preferred investment strategy matters when homing in on a location. We help guide our investor clients to areas that we know will perform well in their preferred strategy. I know what areas do well and what areas to avoid, based on the inquiries we receive.

I'm a REALTOR and MTR Property Manager in the Charlotte market. It sounds like you & your property are doing the right things. I'm equally surprised at the lack of occupancy. Is your competition mostly SFHs? I find that the 2 townhome properties we currently manage do not have the same "desirability" as our SFH properties. While they remain occupied, they tend to have longer gaps of vacancy (1-3 weeks) but are still capturing a little over 2x monthly rent than that of comparable LTRs.

For long term rent, I’d look at OH. I don’t personally invest there but I have clients that do and while they say they don’t necessarily cash flow much, it’s an appreciate play as well.