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Updated over 8 years ago on . Most recent reply

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Ashok Rajasekaran
  • Bellevue, WA
1
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New member from Seattle, interested in investing in Charlotte,NC

Ashok Rajasekaran
  • Bellevue, WA
Posted

Brand new to investing, greatly inspired by the posts and podcasts. Seattle (where I live) is a very expensive market, so trying to invest elsewhere. Since my brother and family in Charlotte and it is a very hot market as well, deciding to invest there. Will get some support with boots on ground. 

Does new properties cash flow as much? How much can we trust the warranty offered by new builders. Any recommendation on good builder. I am looking for house upto $200k. I would be glad to share my findings and experience in future with the community.

Most Popular Reply

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7
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Daniel Koumou Nete
  • Residential Real Estate Broker
  • Charlotte, NC
5
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Daniel Koumou Nete
  • Residential Real Estate Broker
  • Charlotte, NC
Replied

@Ashok Rajasekaran Let me start by introducing myself. I am full time Real Estate Agent here in Charlotte NC. I have had a great pleasure working with some of the best investors in Charlotte including Don Harris (who's very resourceful).

I will have to concur with both @Don Harris and @Alex Franks, home prices in Charlotte keep rising, yet there is still room for investment. My first advise to you "Patience", 2ndly do your homework, and 3rdly find a good support system including a very good realtor to help you analyze the numbers. I will stay away from New Construction as they are built with the intent to target primary residence home buyers.  I would focus on lower priced homes no more than $150,000 with rentals yield around the $1200-$1300. You can always work with wholesalers to invest in Rehabs that you can rent as well. 

As a new investor, I would be very conservative yet aggressive with the Charlotte market (there are a lot of heavy hitters in Charlotte, I believe the market is as close to 20%). Good news, the same way homes do not last on the market, rental properties are being rented just as fast. Great investment avenue, and an ideal way to build wealth.

Feel free to contact me if I can further assist. 

Thanks 

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