Greetings - 1st Post - Wondering About Greater Charlotte NC Area

[John Patterson]

Greetings,

My name is John and I just moved to the greater Charlotte NC area from NY. I moved because of a relationship and because its a heck of a lot cheaper to live down here, and the prospect of being able to own property is really exciting. I have never owned a property, and looking on Zillow I see quite a few cheap properties down here. I would love to just chat with people about what they think about investing in the Greater Charlotte (NC/SC) area. From my research the market seems to be pretty high, but with some meat on the bone for Single Family Homes and MFR for buy and hold rentals (and maybe Buy/Refurbish/Rent). I have ~ $10k to put down on something to still have some $ in reserve just in case (currently employed for ~ $33k/yr).

I'm driving around looking at various cheap properties in the area as I find them on Zillow and seeing large contrasts in the area -- what many of you would refer to as C- to D areas and some B to C as well. What would you do if you were in my shoes? I'd love any information anyone would be willing to talk about about RE in the area with particular interest in rental units in the greater Charlotte area.

Thanks a bunch for reading, and good luck on your own ventures! I'm new but open to learn so go easy on me :)

Best,

~ John P

[Jared Wonders]

Hey John congrats on your move to the Charlotte area! Deals can be tough to find but are definitely around. Just have to be willing to hustle a bit and network. We've been fortunate to meet some great people point us in the right direction and as others have mentioned the local REIAs are great spots to network. My wife and I closed on a property in the Matthews area in Feb which did require some value add but if you're willing to put in the work and/or hire it out this market will reward you. Speaking from experience it would be more advantageous to rent out a property in NC vs. SC due to the high tax rates for non-owner occupants in SC. Hope this information is helpful, good luck in your journey through REI and feel free to PM me if you hav any questions!