Hi BP. I am an out of state investor and my target market is in Charlotte, NC. Lately, I have not had much luck with reliable realtors in the area and keep coming up short on deals. I am getting a taste of how competitive the market currently is, especially since I am not in the area. I would like to try a different strategy and ask for help from wholesalers. Are there any reliable/experienced wholesalers in the area who can help me find single family homes in Charlotte? I am also open to properties in Rock Hill, SC since it is a short distance as well. Thanks!
Chris my name is Jamel I would love more info on what your speaking about and if you have inventory you need to move I would love to take a look in those areas Charlotte NC or Rock Hill.
Cindy I would love to network with you and help you out if your looking in those area's I'm actually in Rock Hill and work the Charlotte market. Also see your a fellow new yorker I'm from Brooklyn myself let's connect..
Hey Cindy, wrapping your head around the Charlotte market can be a bit daunting, I know some fantastic realtors that work almost exclusively with out of town investors, but I'll tell you right now they don't have time for people that don't know exactly what they want, or want something unrealistic. What are your requirements/goals in real estate here in Charlotte?
Thank you everyone for your input. I will reach out for more information.
@Levi Bennett I completely understand the value of the realtors personal time. To further explain my goals, I am looking for single family home (3bd/2BA) to buy and hold at a maximum price range of 130K. I would prefer purchasing in NC due to the property taxes. Property taxes in SC can be exponentially higher because of the non-owner occupied percentage fee. But if a deal in SC comes along and the numbers make sense with a low purchase price and decent rent average I would definitely go for it. I have family in both NC and SC who have been supporting my goals and even helping me manage my first property in SC. Let me know your thoughts.
Hey Cindy, you'll be hard pressed to find a solid rentable 3/2 in Charlotte proper for 130k. Unless you're ok with low-income housing and low rents. What rent per month are you shooting for? It might be easier to work backwards. I will say tho, some of the suburbs may be a little easier. Are you going to be a cash buyer or want to finance? If you're cash, you might want to consider something that needs some work and then get to the 130k mark after some rehabs.. that way you can build in a little equity and get a higher rent with the updated reno. Just a thought..
Welcome, @Jennie Jones ! Great to have another experienced investor in the forums.
A few tips that may be helpful to you here on the BP website:
You can set up keyword alerts so anytime someone posts about Charlotte, Rock Hill or any of the other markets you're evaluating, you'll be notified. That could be a great way to find and stay engaged with local investors, realtors and opportunities. http://www.biggerpockets.com/alerts
You can also search for other investors or agents in your market and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/users
Best of luck to you and look forward to following your success on BP!
Hi Levi. I was hoping of an average rent of at least $1,000. I have been seeing really nice properties out of the city but I am just wondering if finding a tenant would be a problem. I will be leveraging my properties until I will be able to invest with cash. I do not mind purchasing a property a a low price and putting in some minimal cosmetic work to build equity. Just having a little trouble settling on an offer. I will look into and do more research in the suburb areas as well. Changing it up can help.
@Cindy Hurtado you'll want to link up with Justin Stewart Bell- He's an excellent wholesaler in Charlotte.
Strong Oak Properties is his company if you'd like to pull up his website.
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