Real Estate Agent · Fort Lauderdale, FL · Member since 2019 · 59 posts · 31 votes
I am looking to purchase a single family home in the Charlotte area as an investment. I was told by one person that Denver, NC (just north) is growing and would be a good place to look. But, the population of Denver, NC is only 3,300 and it seems a little sleepy there, so it worries me that there won't be anyone looking to rent! Any Realtors in the area or locals who could provide some advice on which areas around Charlotte are best for rentals? I'm looking to stay under $400K. Thanks!
Investor · Charlotte, NC · Member since 2016 · 66 posts · 34 votes
5y
I primary invest in Gaston (Belmont, Gastonia, Mt Holly etc) and Cabarrus county (Concord and Kannapolis) (they border Charlotte - Mecklenburg) and own rentals in each. Both counties are very good for rentals especially if you are staying under 400k.
Specialist · Charlotte North Carolina · Member since 2020 · 112 posts · 66 votes
5y
I would stick to the surrounding suburbs or inside of the Charlotte Metro. With the higher population density and strong job market, you will have more insulation than in the secondary market from any economic changes while experience more long-term benefits that come from being so close to a city center (rental and property appreciation). Denver is still a growing area and a good market for REI investors but it takes a more careful approach with most deals being a value add/renovation plays.
Real Estate Agent · Fort Lauderdale, FL · Member since 2019 · 59 posts · 31 votes
5y
Thanks, @Account Closed. Do you have any specific areas inside of the Charlotte Metro that you would recommend? Are some areas/streets, etc. better than others?
Charlotte, NC · Member since 2019 · 2 posts · 0 votes
5y
Following this — also curious if anyone ha suggestions for areas to look for a condo. Thinking about buying a condo as my first rental just to get my feet wet.
@Heidi Braunhardt Denver is hot area, don’t let the population statistic you found fool you. You’ll find it’s a better sub market than anywhere in that quadrant of greater Charlotte area.