Hi! I'm Cara. I'm from the outskirts of Charlotte, NC in a smaller town of York, SC. I currently have a single family rental in Boiling Springs, SC. I am looking to get a multifamily property next. I'm looking to start small in the 8-12 units range. I've researched quite a lot but I am hoping to find a mentor to help guide me through the process for my first multifamily property and someone I can go to for questions along the way. Has anyone hired a mentor that is worth shouting out?
Hi! I'm Cara. I'm from the outskirts of Charlotte, NC in a smaller town of York, SC. I currently have a single family rental in Boiling Springs, SC. I am looking to get a multifamily property next. I'm looking to start small in the 8-12 units range. I've researched quite a lot but I am hoping to find a mentor to help guide me through the process for my first multifamily property and someone I can go to for questions along the way. Has anyone hired a mentor that is worth shouting out?
Hi @Cara Pennington, welcome to the BP Forum! Any relation to Chad? ;-) Any specific reason why you want to go from 1 SFR to as many as 12 units? That's quite the jump!
What is your price range/down payment amount? Are you looking for turn-key properties or something along the lines of a "fixer upper"? Are you looking for properties in Charlotte or somewhere else?
Hi @Jaycee Greene! Multifamily is where I've always been interested. I have the single family from buying it as my first home and instead of selling when I moved, I rented it out. I believe multifamily is the way to go for a better cash flow and per unit operational costs.
I have around 250k for a down payment and repairs. I'd prefer my first one not be a full demo fixer upper. I'm okay with painting and adding some cosmetic appeals to increase rent but I don't think I know enough to jump into a property that needs the kitchens or bathrooms fully demoed before it's safe/acceptable to live in.
Ideally I would like to buy in Charlotte or the surrounding areas. I'm okay with buying outside of Charlotte but would want it to be within a few hours driving distance so I could drive to the property when needed.
Hi @Jaycee Greene! Multifamily is where I've always been interested. I have the single family from buying it as my first home and instead of selling when I moved, I rented it out. I believe multifamily is the way to go for a better cash flow and per unit operational costs.
I have around 250k for a down payment and repairs. I'd prefer my first one not be a full demo fixer upper. I'm okay with painting and adding some cosmetic appeals to increase rent but I don't think I know enough to jump into a property that needs the kitchens or bathrooms fully demoed before it's safe/acceptable to live in.
Ideally I would like to buy in Charlotte or the surrounding areas. I'm okay with buying outside of Charlotte but would want it to be within a few hours driving distance so I could drive to the property when needed.
@Cara Pennington so, something like this 10-unit in Concord: 56 Tribune Ave SW, Concord, NC 28025?