Charlotte, NC - Multi-Family (Duplex, Triplex, Quadplex) - Advice Needed

4 Replies

Good morning BP! I've been lurking for months and finally decided to make my first post. I've been living in Charlotte for 4 years and am a new attorney working in the SouthPark area. My goal is to get started in real estate investing by "house hacking," but have not been able to find a multi-family on the MLS that will work by the numbers.

Unfortunately, I missed the most recent local meet-up, but wanted to see if anyone might have some insight. I've read the "No and Low Money Down" as well as "Getting Started" to have a foundation for what to look for number wise. I'm a prior Real Estate Broker from the Midwest and have a general knowledge of the process. Further, I grew up in the construction industry and I am pretty handy. So, a fixer-upper wouldn't be a bad thing either. 

I haven't found anything that matches the criteria, which leads me to believe all of the deals are by word of mouth and never see the MLS.

Any advice would be greatly appreciated! 

Hey there @Ryan P. I'm also an investor here in Charlotte NC I would suggest reaching out to agents that deal primarily with multi family 4+ units to find deals charlotte is hot and very few real "deals" last 24-48hrs on MLS... Also I would suggest driving around and contacting owners directly...

you may consider a mail campaign to small apartment owners who are both looking to get out of their property and are willing to finance it. Finding a good deal is challenging, but don't get discouraged. When you find the right one all the hard work will be worth it.

Thank you @Audrey Truesdale and @Daniel Hedges! As hot as the Charlotte market is, I thought I might get more of a response from others. Or maybe they're keeping all the deals for themselves? :) I'm going to do some research here at BP about mail campaigns and see if that might be a good option for my area. 

If you have any other suggestions, please let me know!

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