1% rule properties in the Lake Norman, NC area
My wife and a friend of mine are looking for some buy and hold properties in the Lake Norman, North Carolina area (from Huntersville to Mooresville) and are having a hard time finding and that hit the 1% rule.
Actually, most just hit the .7% plateau. While I realize this isn’t the only thing that makes a property desirable, I’d love to see JUST ONE hit that mark.
Is anyone finding any of these?
Most Popular Reply
Hey Mark - we have several properties in the LN Area and I've rarely been able to hit the 1% ratio, 75% ARV or other more traditional means of measuring value upfront. It's not that I haven't worked hard to find better values, in my experience these opportunities just haven't been as plentiful as in some other markets. However in spite of the higher up investment, we have seen steady appreciation, low turnover, nearly always rent quickly and overall have been happy with our investments and their returns. Anyway thought sharing our experience may help at minimum firm up your expectations.
Good luck in your search!