Multifamilies in Charlotte, NC
Hello!
I am planning on possibly moving to the Charlotte, NC area around the end of the year and will continue investing in real estate. I'm looking for a multifamily to purchase and house hack down there as I continue investing in the area doing multifamily BRRRR's, flips, commercial properties etc.
It seems like there are very few multi-families around that area that come up on the market, well less than where I live currently. Any realtors in that area that may have some knowledge or know of some off market inventory?
Also I'm looking to either BRRRR multifamily/single families for LTR and also focus on purchasing large residential commercial buildings.
Commercial larger properties are my main focus, but it seems multifamily/single family BRRRR's/flips might be a good play in the area as well.
Looking to connect with anyone in that location as well!
Quote from @Wendell Butler:
Hello!
I am planning on possibly moving to the Charlotte, NC area around the end of the year and will continue investing in real estate. I'm looking for a multifamily to purchase and house hack down there as I continue investing in the area doing multifamily BRRRR's, flips, commercial properties etc.
It seems like there are very few multi-families around that area that come up on the market, well less than where I live currently. Any realtors in that area that may have some knowledge or know of some off market inventory?
Also I'm looking to either BRRRR multifamily/single families for LTR and also focus on purchasing large residential commercial buildings.
Commercial larger properties are my main focus, but it seems multifamily/single family BRRRR's/flips might be a good play in the area as well.Looking to connect with anyone in that location as well!
Wendell, let me be the first to welcome you to Charlotte! You will love it here. My fiancé and I came on a vacation one week and were under contract for a home by the following week. So I have no doubt that you will enjoy it personally and from an investing perspective.
In response to your post, you are spot on in the fact that there is a severely limited inventory for multifamily. I am an investor who is also a real estate agent and my whole focus is to help other new investors get started on the path to building wealth through real estate investing. I am analyzing these multifamily deals here for my clients, compiling data leveraging the MLS and other sites and providing that information to my investor clients so they have all the info readily available to make a decision on how they want to proceed. Most of the deals I have analyzed especially in the multifamily realm are at negative cashflow due to high price and interest rates. That being said, I continue to emphasize that you have see where Charlotte and the surrounding area will be in the next few years with the mass influx of people moving from cities like NYC to get more affordable housing and better QoL especially as we are being heavily affected by macro factors such as inflation. I also think that if you want something to immediately cash flow then you have to take a more creative approach like looking at the potential to rent out each room or implementing a short term rental or mid term rental strategy. The medical field is huge down here so being able to provide a great property for traveling nurses and other professions could be greatly increase your GOI vs traditional LTR. Every deal I analyze I provide the numbers if the investor wanted to do a LTR, MTR and STR just so they understand their options.
For BRRR type stuff, I get fed off market deals from New Western and Networth Realty. I would also check out the Charlotte NC, Real Estate Investors page on Facebook if you haven't already.
If you are interested and wanting to talk more, I love talking about real estate so shoot me a PM or give me a call/text at 785-375-8330.
Quote from @Evans Wright:
Quote from @Wendell Butler:
Hello!
I am planning on possibly moving to the Charlotte, NC area around the end of the year and will continue investing in real estate. I'm looking for a multifamily to purchase and house hack down there as I continue investing in the area doing multifamily BRRRR's, flips, commercial properties etc.
It seems like there are very few multi-families around that area that come up on the market, well less than where I live currently. Any realtors in that area that may have some knowledge or know of some off market inventory?
Also I'm looking to either BRRRR multifamily/single families for LTR and also focus on purchasing large residential commercial buildings.
Commercial larger properties are my main focus, but it seems multifamily/single family BRRRR's/flips might be a good play in the area as well.Looking to connect with anyone in that location as well!
Wendell, let me be the first to welcome you to Charlotte! You will love it here. My fiancé and I came on a vacation one week and were under contract for a home by the following week. So I have no doubt that you will enjoy it personally and from an investing perspective.
In response to your post, you are spot on in the fact that there is a severely limited inventory for multifamily. I am an investor who is also a real estate agent and my whole focus is to help other new investors get started on the path to building wealth through real estate investing. I am analyzing these multifamily deals here for my clients, compiling data leveraging the MLS and other sites and providing that information to my investor clients so they have all the info readily available to make a decision on how they want to proceed. Most of the deals I have analyzed especially in the multifamily realm are at negative cashflow due to high price and interest rates. That being said, I continue to emphasize that you have see where Charlotte and the surrounding area will be in the next few years with the mass influx of people moving from cities like NYC to get more affordable housing and better QoL especially as we are being heavily affected by macro factors such as inflation. I also think that if you want something to immediately cash flow then you have to take a more creative approach like looking at the potential to rent out each room or implementing a short term rental or mid term rental strategy. The medical field is huge down here so being able to provide a great property for traveling nurses and other professions could be greatly increase your GOI vs traditional LTR. Every deal I analyze I provide the numbers if the investor wanted to do a LTR, MTR and STR just so they understand their options.
For BRRR type stuff, I get fed off market deals from New Western and Networth Realty. I would also check out the Charlotte NC, Real Estate Investors page on Facebook if you haven't already.
If you are interested and wanting to talk more, I love talking about real estate so shoot me a PM or give me a call/text at 785-375-8330.
Hello Evans! Thank you for that information. Yes Charlotte is awesome, I was actually born there and then my parents work brought me up to New England, but every time I visit Charlotte it feels like home. It is looking like I will be heading back home! I would love to connect and talk more about real estate, especially in the Charlotte area as it is approaching the time I will look to move there. I will shoot you a text soon.
