Hi! I'm Cara. I'm from the outskirts of Charlotte, NC in a smaller town of York, SC. I'm hoping to make some connections as I progress in my rental adventures. I currently have a single family rental in Boiling Springs, SC. I am looking to get a multi-family property next. I'm looking to start small, 8-12 units, just to learn the process and build connections!
Hi @Ken M.! I agree with wanting to be in the Charlotte area. Rock Hill, SC is also becoming very popular in this area as so many people move toward the Carolinas and with the increased living costs of Charlotte. I'm actually looking for a mentor and someone who can give guidance through buying my first multifamily. Do you have a mentorship program for the Charlotte, NC area?
Hi! I'm Cara. I'm from the outskirts of Charlotte, NC in a smaller town of York, SC. I'm hoping to make some connections as I progress in my rental adventures. I currently have a single family rental in Boiling Springs, SC. I am looking to get a multi-family property next. I'm looking to start small, 8-12 units, just to learn the process and build connections!
Cute little town, but if I was training you, we'd be buying in Charlotte.
Hi! I'm Cara. I'm from the outskirts of Charlotte, NC in a smaller town of York, SC. I'm hoping to make some connections as I progress in my rental adventures. I currently have a single family rental in Boiling Springs, SC. I am looking to get a multi-family property next. I'm looking to start small, 8-12 units, just to learn the process and build connections!
Cute little town, but if I was training you, we'd be buying in Charlotte.
Ken. I live in Charlotte. How are you cash flowing on rentals in Charlotte? I haven't found anything that cash flows.
Hi! I'm Cara. I'm from the outskirts of Charlotte, NC in a smaller town of York, SC. I'm hoping to make some connections as I progress in my rental adventures. I currently have a single family rental in Boiling Springs, SC. I am looking to get a multi-family property next. I'm looking to start small, 8-12 units, just to learn the process and build connections!
Cute little town, but if I was training you, we'd be buying in Charlotte.
Ken. I live in Charlotte. How are you cash flowing on rentals in Charlotte? I haven't found anything that cash flows.
Hi @William Matthews: What I said was "Cute little town, but if I was training you, we'd be buying in Charlotte." I didn't mean to imply I owned properties there.
Here is what I was symbolically saying " if you buy at 85% of value, taking over the existing interest rate, you can cash flow, that's what we do"
I've said that so many times, and it works almost anywhere, that I just take it for granted. Here is what I mean https://www.biggerpockets.com/forums/517/topics/1268634-how-... Believe me, done correctly, almost any town will produce cash flowing properties. You just have to know how to structure the deal.
You probably have been trying to buy off the MLS using bank financing. No, that doesn't work.
Hi @Ken M.! I agree with wanting to be in the Charlotte area. Rock Hill, SC is also becoming very popular in this area as so many people move toward the Carolinas and with the increased living costs of Charlotte. I'm actually looking for a mentor and someone who can give guidance through buying my first multifamily. Do you have a mentorship program for the Charlotte, NC area?
Hi @Ken M.! I agree with wanting to be in the Charlotte area. Rock Hill, SC is also becoming very popular in this area as so many people move toward the Carolinas and with the increased living costs of Charlotte. I'm actually looking for a mentor and someone who can give guidance through buying my first multifamily. Do you have a mentorship program for the Charlotte, NC area?
Welcome to the BP community and to the next step in your REI journey.
I have worked with a number of investors in the last few years that are very happy with their investments in the Charlotte area. There are a number of smaller markets just outside the metro that are growing at a good pace but properties are still on the cheaper end. The employment has been on a good growth pattern for a while.
For an investor in your position looking to grow a portfolio I would suggest looking at a smaller multi unit. 2-4 unit properties will get you a taste of multi fam but you will still be able to qualify for the property with normal residential financing. This would give you the better cash flow and experence with owning/managing connected units in an easier entry and exit point. For the newer investors that I have worked with who have bought in the Charlotte area this has worked out well.
Make sure you use this forum for more specific questions to get feedback as you get closer.
Welcome, Cara. For an 8–12 unit in your area, pick a tight buy box and underwrite like a business: verify in‑place rent rolls, trailing expenses, and any deferred CapEx (roofs, plumbing, parking). Use income‑based valuation, assume conservative vacancy and professional management, and stress‑test debt at today's rates. Walk comps, read zoning and utility setups, and confirm lender terms for small multifamily. While you hunt, tour 2–4 unit deals to sharpen reps, line up a local attorney, inspector, and PM, and be ready to move when a clean T12 and inspection match your numbers.