North Carolina - Rental Investment

18 Replies

I am from New Jersey and this is where I bought my first primary residential place. In the process of buying my first property, I have learned that property taxes play a major role in how I want to buy my next investment. 

Keeping the high property taxes in mind, I am now looking for out of state rentals. 

How is North Carolina related to long term rental investment? I am leaning more towards NC area, Raleigh/Cary area, because of IT jobs related field. I am still reading and trying to understanding the market here. 

Any idea what and where I should look out for rental investment? 

@Harpreet Walia I saw this post after I sent you a message.  I think the Triangle area is great for long term investing.  We have a rapidly expanding economy and a well-educated workforce. The cost of living is low, and people are moving here in droves. 

I hear taxes are insane in NJ! They are roughly 1% of assessed value in most of the Triangle.  So, for a $200k home, you'll likely pay around $2000/year.

Thanks Dawn. Got your message. 

How about experience of other people , with rental investments there? Anything which you want to share about. This will be my first rental investment, just want to make sure I am doing it right

@Harpreet Walia

My wife & I have been investing in Winston-Salem, NC for 5 years & there is no shortage of properties or deals. I am a little biased, however we do find our way onto almost every list of top places to invest in real estate :) I will say, to @Dawn Brenengen 's point, that the Triangle is a phenomenal place to invest as well.

The Triad, the Triangle & the Charlotte Metro areas are booming. Young professionals in the banking, research & medical fields are moving here in large numbers. 

Because of this, we like the homes that are less than 20 years old in the median price range of $130,000-$150,000. It attracts residents from the hospitals & young families starting out who tend to be a bit more stable & are more likely to be respectful tenants. 

Originally posted by @Harpreet Walia :

I am from New Jersey and this is where I bought my first primary residential place. In the process of buying my first property, I have learned that property taxes play a major role in how I want to buy my next investment. 

Keeping the high property taxes in mind, I am now looking for out of state rentals. 

How is North Carolina related to long term rental investment? I am leaning more towards NC area, Raleigh/Cary area, because of IT jobs related field. I am still reading and trying to understanding the market here. 

Any idea what and where I should look out for rental investment? 

Harpeet

Im located just below Charlotte NC. Right now its bit harder to secure good deals in both areas. With that being said ( Raliegh is a fantastic area and market. )

I used to be a turn key guy for properties here in Charlotte. We flipped over 250 over a few year period ( mostly to out of state buyers). I now buy for my self or build new construction. Now the numbers here that don't make sense or look attractive  to me. Would still be very attractive to out of state investors from the North.  Mainly because price  of the entry points for properties here compared to your market. I did do a post if I was looking in charlotte and here are some zip codes.

Also I would make a trip to both markets and look around.  Seeing things and getting a hands on feel for both markets is the best advice I can give you.

Here was my post help this helps

Alex

Originally posted by @Will Chitwood:

I'm an investor from San Diego that's been looking at the Charlotte market for single family homes since the values are better and my in-laws live there. I'm still learning the area and was wondering what parts of town everyone recommends for good cash flowing rentals.

Will

How are you? From 2010 to 2013 we invested both buy and hold and selling of turnkey rentals in Charlotte NC. I worked for one of the bigger turn key outfits( co owned) Charlotte is like most markets there are good and bad areas. With that being said first the most important is what are you real estate goals.

then you can decide what areas are good for you. Each area has some thing different to offer . Some great cash flow_ others appreciation.

I read a lot of the advice below and was really good. I did see Waxhaw NC . Im currently building quads and Duplexes in that area. I live just below Charlotte on the SC side. NC much better for taxes then SC on investment properties. I still own quite a few rentals scatted about Nc and SC. For me personally I would only invest in A and B assets. Again that is for me personally. Been in this business for 16 years and the lower end take a lot more time and energy.( patience ) With all that being said

If I was out of state I would check out these areas.

28215 own rentals here

28134 own rental's here

28273 sold turn key properties here

28252 sold turn key properties here

Areas I choose to stay away from.

28208 I own rentals here , and sold rental here

28214 own rental here

28216 50/50

What I look at is when an area turns mostly rentals ( vinyl villages ) in the long run the area will not climb in appreciation. Most likely the opposite. At the same time I expect rents to keep climbing as us investors just not learned out lessons yet again.

As you can see I'm speaking from my personal experience. Right now Charlotte is great for retail properties in most of the areas mentioned above. Good rentals are harder to find as the numbers just not making sense. We have chosen to build new construction quads instead.

Please ask away if you have any questions. If you are ever in Charlotte stop by open door here. I also travel a good bit to California ( San diego ) if I recall the airport lands right over the water. Awesome seafood restaurant I was at. Cant recall the name right off the water and airport as well. I make out that way 6 to 8 times year ( Cali)

Ask away

Alex

Originally posted by @Matt Moger :

@Harpreet Walia

My wife & I have been investing in Winston-Salem, NC for 5 years & there is no shortage of properties or deals. I am a little biased, however we do find our way onto almost every list of top places to invest in real estate :) I will say, to @Dawn Brenengen 's point, that the Triangle is a phenomenal place to invest as well.

The Triad, the Triangle & the Charlotte Metro areas are booming. Young professionals in the banking, research & medical fields are moving here in large numbers. 

Because of this, we like the homes that are less than 20 years old in the median price range of $130,000-$150,000. It attracts residents from the hospitals & young families starting out who tend to be a bit more stable & are more likely to be respectful tenants. 

Thanks for your response Matt. I am in touch with Dawn and have personally visited the triangle area. It surely is the good entry point for people like me getting into rental investment.

Deals are coming and going really fast in triangle area :-) What are your thoughts on Townhouse versus SFH here? All I see is townhouses, mainly in area like Apex and Morrisville.

Originally posted by @Alex Franks :
Originally posted by @Harpreet Walia:

I am from New Jersey and this is where I bought my first primary residential place. In the process of buying my first property, I have learned that property taxes play a major role in how I want to buy my next investment. 

Keeping the high property taxes in mind, I am now looking for out of state rentals. 

How is North Carolina related to long term rental investment? I am leaning more towards NC area, Raleigh/Cary area, because of IT jobs related field. I am still reading and trying to understanding the market here. 

Any idea what and where I should look out for rental investment? 

Harpeet

Im located just below Charlotte NC. Right now its bit harder to secure good deals in both areas. With that being said ( Raliegh is a fantastic area and market. )

I used to be a turn key guy for properties here in Charlotte. We flipped over 250 over a few year period ( mostly to out of state buyers). I now buy for my self or build new construction. Now the numbers here that don't make sense or look attractive  to me. Would still be very attractive to out of state investors from the North.  Mainly because price  of the entry points for properties here compared to your market. I did do a post if I was looking in charlotte and here are some zip codes.

Also I would make a trip to both markets and look around.  Seeing things and getting a hands on feel for both markets is the best advice I can give you.

Here was my post help this helps

Alex

Originally posted by @Will Chitwood:

I'm an investor from San Diego that's been looking at the Charlotte market for single family homes since the values are better and my in-laws live there. I'm still learning the area and was wondering what parts of town everyone recommends for good cash flowing rentals.

Will

How are you? From 2010 to 2013 we invested both buy and hold and selling of turnkey rentals in Charlotte NC. I worked for one of the bigger turn key outfits( co owned) Charlotte is like most markets there are good and bad areas. With that being said first the most important is what are you real estate goals.

then you can decide what areas are good for you. Each area has some thing different to offer . Some great cash flow_ others appreciation.

I read a lot of the advice below and was really good. I did see Waxhaw NC . Im currently building quads and Duplexes in that area. I live just below Charlotte on the SC side. NC much better for taxes then SC on investment properties. I still own quite a few rentals scatted about Nc and SC. For me personally I would only invest in A and B assets. Again that is for me personally. Been in this business for 16 years and the lower end take a lot more time and energy.( patience ) With all that being said

If I was out of state I would check out these areas.

28215 own rentals here

28134 own rental's here

28273 sold turn key properties here

28252 sold turn key properties here

Areas I choose to stay away from.

28208 I own rentals here , and sold rental here

28214 own rental here

28216 50/50

What I look at is when an area turns mostly rentals ( vinyl villages ) in the long run the area will not climb in appreciation. Most likely the opposite. At the same time I expect rents to keep climbing as us investors just not learned out lessons yet again.

As you can see I'm speaking from my personal experience. Right now Charlotte is great for retail properties in most of the areas mentioned above. Good rentals are harder to find as the numbers just not making sense. We have chosen to build new construction quads instead.

Please ask away if you have any questions. If you are ever in Charlotte stop by open door here. I also travel a good bit to California ( San diego ) if I recall the airport lands right over the water. Awesome seafood restaurant I was at. Cant recall the name right off the water and airport as well. I make out that way 6 to 8 times year ( Cali)

Ask away

Alex

Thanks Alex for detailed explanation. Appreciate your time taken here.

I have already visited Raleigh NC area as this would be my starting point for investment.

I also have plans to visit Charlotte areas to see what it has to offer. I will go through the zip codes to better get an understanding of the place and rates around.

Btw, where are you bulding these duplxes/multi family houses? Can you give me any reference links to go through

Originally posted by @Harpreet Walia :
Originally posted by @Alex Franks:
Originally posted by @Harpreet Walia:

I am from New Jersey and this is where I bought my first primary residential place. In the process of buying my first property, I have learned that property taxes play a major role in how I want to buy my next investment. 

Keeping the high property taxes in mind, I am now looking for out of state rentals. 

How is North Carolina related to long term rental investment? I am leaning more towards NC area, Raleigh/Cary area, because of IT jobs related field. I am still reading and trying to understanding the market here. 

Any idea what and where I should look out for rental investment? 

Harpeet

Im located just below Charlotte NC. Right now its bit harder to secure good deals in both areas. With that being said ( Raliegh is a fantastic area and market. )

I used to be a turn key guy for properties here in Charlotte. We flipped over 250 over a few year period ( mostly to out of state buyers). I now buy for my self or build new construction. Now the numbers here that don't make sense or look attractive  to me. Would still be very attractive to out of state investors from the North.  Mainly because price  of the entry points for properties here compared to your market. I did do a post if I was looking in charlotte and here are some zip codes.

Also I would make a trip to both markets and look around.  Seeing things and getting a hands on feel for both markets is the best advice I can give you.

Here was my post help this helps

Alex

Originally posted by @Will Chitwood:

I'm an investor from San Diego that's been looking at the Charlotte market for single family homes since the values are better and my in-laws live there. I'm still learning the area and was wondering what parts of town everyone recommends for good cash flowing rentals.

Will

How are you? From 2010 to 2013 we invested both buy and hold and selling of turnkey rentals in Charlotte NC. I worked for one of the bigger turn key outfits( co owned) Charlotte is like most markets there are good and bad areas. With that being said first the most important is what are you real estate goals.

then you can decide what areas are good for you. Each area has some thing different to offer . Some great cash flow_ others appreciation.

I read a lot of the advice below and was really good. I did see Waxhaw NC . Im currently building quads and Duplexes in that area. I live just below Charlotte on the SC side. NC much better for taxes then SC on investment properties. I still own quite a few rentals scatted about Nc and SC. For me personally I would only invest in A and B assets. Again that is for me personally. Been in this business for 16 years and the lower end take a lot more time and energy.( patience ) With all that being said

If I was out of state I would check out these areas.

28215 own rentals here

28134 own rental's here

28273 sold turn key properties here

28252 sold turn key properties here

Areas I choose to stay away from.

28208 I own rentals here , and sold rental here

28214 own rental here

28216 50/50

What I look at is when an area turns mostly rentals ( vinyl villages ) in the long run the area will not climb in appreciation. Most likely the opposite. At the same time I expect rents to keep climbing as us investors just not learned out lessons yet again.

As you can see I'm speaking from my personal experience. Right now Charlotte is great for retail properties in most of the areas mentioned above. Good rentals are harder to find as the numbers just not making sense. We have chosen to build new construction quads instead.

Please ask away if you have any questions. If you are ever in Charlotte stop by open door here. I also travel a good bit to California ( San diego ) if I recall the airport lands right over the water. Awesome seafood restaurant I was at. Cant recall the name right off the water and airport as well. I make out that way 6 to 8 times year ( Cali)

Ask away

Alex

Thanks Alex for detailed explanation. Appreciate your time taken here.

I have already visited Raleigh NC area as this would be my starting point for investment.

I also have plans to visit Charlotte areas to see what it has to offer. I will go through the zip codes to better get an understanding of the place and rates around.

Btw, where are you bulding these duplxes/multi family houses? Can you give me any reference links to go through

 Pm me your best email. I can send you details Raleigh is a great place.

We are building  New construction rentals around Charlotte in the different suburbs. Gastonia , Salibury , Monroe, Concord.

Our retail projects on all onth South Carolina side in Rock Hill. For us SC side better for retial, NC side better for rental projects.

Alex

I am also an investor from New Jersey looking to break into the Carolina market. I own in NJ & Ohio. Would anyone happen to recommend an relator and/or property management company that works with out of state investor in North Carolina deals? I'm not looking to spend over 100k for a multi unit.

Harprett,

I just came across this thread. I am located in California and looking to possibly start investing in Charolette North Carolina. I am also interested in the Raleigh area as well. I have a trip planned for the beginning of October to visit and I am curios if you have started to invest in the Charolette or Raleigh areas?

Any feed back is greatly appreciated.

Originally posted by @Monica Pope :

I am also an investor from New Jersey looking to break into the Carolina market. I own in NJ & Ohio. Would anyone happen to recommend an relator and/or property management company that works with out of state investor in North Carolina deals? I'm not looking to spend over 100k for a multi unit.

@Monica Pope Feel free to reach out to me. More then happy to discuss our market and what's going on.

Alex

Originally posted by @Matthew McBride :

Harprett,

I just came across this thread. I am located in California and looking to possibly start investing in Charolette North Carolina. I am also interested in the Raleigh area as well. I have a trip planned for the beginning of October to visit and I am curios if you have started to invest in the Charolette or Raleigh areas?

Any feed back is greatly appreciated.

@Mathew Mcbride thanks for reaching out look forward to answering any of your questions and showing you around Charlotte if we meet up.

Talk soon

Alex

PS I Responded to your connection and sent some of my contact information

I am invested in the Raleigh market. This is a great area to invest, but finding deals is difficult. Nice houses are sold in a weekend with multiple offers. Less desirable houses are listed at retail and you will need to work to get them down. 

Originally posted by @Monica Pope :

I am also an investor from New Jersey looking to break into the Carolina market. I own in NJ & Ohio. Would anyone happen to recommend an relator and/or property management company that works with out of state investor in North Carolina deals? I'm not looking to spend over 100k for a multi unit.

 Monica, 

After my post, i did end up buying in NOrth Carolina (Holly Springs area to be specific). I was working with @dawn brenengan. She is also my property manager. She is here in BP and you can reach out to her, if needed.

Originally posted by @Matthew McBride :

Chris,

Thanks for the feedback. How did you find your properties and do you use a property management company?

Matt

 Hi Matt, 

Yes, I use property management company. I did my deals through Dawn Brenengan. She also manages my property. If you need any help, I can definitely ask you to contact her. She is here on BP

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