New investor from Charlotte, North Carolina

New Member Introductions
6yFollow

New investor from Charlotte, North Carolina

Aris Azar
Member since 2019 · 10 posts · 8 votes

Greetings BP brethren,

My name is Aris Azar. I’m a new investor from the Charlotte, NC area. I am currently working with a Buy/Hold strategy with vehicles in the form of apartments/condos. I am relatively new to the market and looking to soak up as much information as I can from all local investors (new and seasoned). I work a full-time job in the healthcare industry and my interest towards real estate investments in Charlotte stems from how beautiful of a city it is and my thought that in the coming 5-10 years, it is posed to experience aggressive expansion.

How I came about BiggerPockets.com? A good friend introduced me to the BiggerPockets website, as he is a seasoned investor in the Texas market and provided me some early guidance during the purchase of my first investment property. Part of his guidance included a link to the BiggerPockets forum. Shortly after visiting the site, I discovered the podcast and I've fallen in love with listening to the guys on my drive(s) to/from work (literally started from episode one and slowly creeping up on 100) and have also graduated to purchasing & reading books from "Beardy Brandon" and Josh Dorkin (UBG, Book on Rental Property Investing, Tax Strategies for the Savvy REI + sprinkled in a little Kiyosaki).

Anyhow, as part of my journey as an investment property owner in the Charlotte, NC market, I am now looking to grow my team. 

Thank you all in advance for having and assisting me.

Aris

3Reply
35 views

Most Popular Reply

Laura Shinkle
Realtor · Charlotte, NC · Member since 2017 · 357 posts · 292 votes
6y

Hi @Aris Azar, welcome to BP and I'm excited for your journey!! Before real estate, I was actually in healthcare myself and worked at a hospital in Charlotte. What do you do in healthcare?

You mentioned you have an investment property already. How did it go? What part of Charlotte is it in? We'd love to hear more!

You mentioned you wanted to grow your team. Any recommendations we can get you?

There are a few meetups in Charlotte too, if you want to look into those!

2Reply
See this reply in the discussion

23 Replies

Jump to latestLatest
  • Anthoney Hanks
    Real Estate Broker · Forney, TX · Member since 2019 · 1k+ posts · 399 votes
    6y

    @Aris Azar Welcome to BiggerPockets! Truly nice to meet you. Good luck going forward! Hope the best for you going forward in 2020!!

    How fortunate to have a friend in the business and to be seasoned. Keep learning and jump in.

    Podcast: https://www.biggerpockets.com/podcast

    Webinars: https://www.biggerpockets.com/webinars

    Glossary: https://www.biggerpockets.com/rei/glossary

    @David Greene and @Brandon Turner has some good ones.

    2Reply
  • Laura Shinkle
    Realtor · Charlotte, NC · Member since 2017 · 357 posts · 292 votes
    6y

    Hi @Aris Azar, welcome to BP and I'm excited for your journey!! Before real estate, I was actually in healthcare myself and worked at a hospital in Charlotte. What do you do in healthcare?

    You mentioned you have an investment property already. How did it go? What part of Charlotte is it in? We'd love to hear more!

    You mentioned you wanted to grow your team. Any recommendations we can get you?

    There are a few meetups in Charlotte too, if you want to look into those!

    2Reply
  • James Williams
    New to Real Estate · Charlotte, NC · Member since 2019 · 73 posts · 46 votes
    6y

    @Aris Azar Hello sir! Welcome to the Charlotte market. There are a few different REI meetups around town. I am am new to all of this and I'm enjoying networking and meeting other investors. I am happy to link up with you and talk shop some time. I'm sure there are things we can learn from each other and I just like having like minded people to hang out with. Feel free to connect with me on here.

    1Reply
  • Aris Azar
    OP
    Member since 2019 · 10 posts · 8 votes
    6y

    Originally posted by @Anthoney Hanks:

    @Aris Azar Welcome to BiggerPockets! Truly nice to meet you. Good luck going forward! Hope the best for you going forward in 2020!!

    How fortunate to have a friend in the business and to be seasoned. Keep learning and jump in.

    Podcast: https://www.biggerpockets.com/podcast

    Webinars: https://www.biggerpockets.com/webinars

    Glossary: https://www.biggerpockets.com/... Greene and @Brandon Turner has some good ones. 

    Hey Anthoney,

    Thank you for the warm welcome! I certainly intend to keep glued to the podcast, while reading all the material I can get my hands on and complementing my study with attendance to local REIA's.

    I'm sure I'll have more questions and I look forward to sharing with you.

    Aris

    0Reply
  • Aris Azar
    OP
    Member since 2019 · 10 posts · 8 votes
    6y
    Originally posted by @Laura Shinkle:

    Hi @Aris Azar, welcome to BP and I'm excited for your journey!! Before real estate, I was actually in healthcare myself and worked at a hospital in Charlotte. What do you do in healthcare?

    You mentioned you have an investment property already. How did it go? What part of Charlotte is it in? We'd love to hear more!

    You mentioned you wanted to grow your team. Any recommendations we can get you?

    There are a few meetups in Charlotte too, if you want to look into those!

    Hey Laura,

    To answer your questions in order..

    I serve as a Neurology & Neuro-Surgery Nurse Practitioner and I work within the greater Charlotte market for one of the two major hospital systems.

    I do own an investment property. It is a condo and is located right within central Charlotte (Uptown area). I'll soon be looking for a good rental listing agent.

    I also do look forward to attending a few REIA's in the very near future.

    Thanks!

    Aris

    0Reply
  • Aris Azar
    OP
    Member since 2019 · 10 posts · 8 votes
    6y
    Originally posted by @James Williams:

    @Aris Azar Hello sir! Welcome to the Charlotte market. There are a few different REI meetups around town. I am am new to all of this and I'm enjoying networking and meeting other investors. I am happy to link up with you and talk shop some time. I'm sure there are things we can learn from each other and I just like having like minded people to hang out with. Feel free to connect with me on here.

    Hey James,

    Thank you for the warm welcome.

    I'll definitely look for you during the next few months in order to hook up and talk shop. Who knows, maybe we'll see each other at one of the local REIA's in Charlotte.

    Thanks man!

    Aris

    1Reply
  • Laura Shinkle
    Realtor · Charlotte, NC · Member since 2017 · 357 posts · 292 votes
    6y

    Hi @Aris Azar, good to know you! As far as forum rules, asking for referrals is fine and as far as I'm aware, welcome. We want everyone to be successful here, and that includes sending vendors we use business. 

    We're excited to see how you progress towards your goals! Keep us posted

    1Reply
  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    6y

    Hi @Laura Shinkle, Actually asking for referrals can only be posted in the Marketplace Forum. When someone asks for a referral in the regular forums, it causes a lot of self-promotion which clogs up the forums and makes it difficult to find the information and advice the forums are here for.

    [email protected]Podcast Guest on Show #261
    BiggerPockets
    1Reply
  • Aris Azar
    OP
    Member since 2019 · 10 posts · 8 votes
    6y
    Originally posted by @Mindy Jensen:

    Hi @Laura Shinkle, Actually asking for referrals can only be posted in the Marketplace Forum. When someone asks for a referral in the regular forums, it causes a lot of self-promotion which clogs up the forums and makes it difficult to find the information and advice the forums are here for.

    Hi Mindy, 

    That explains why some of my posts were being edited. I just figured my long-winded posts had somehow invoked the wrath of the bearded one (Brandon Turner). 

    Thanks for the clarification. That's very helpful. 

    Aris

    0Reply
  • John Maxx
    Member since 2019 · 10 posts · 3 votes
    6y

    Hello Charlotte real estate investors!

    I’m just getting into investing too. If y’all are planning to meet sometime soon, I’d like to join as well. 

    Looking forward to meeting you all. 
    John. 

    2Reply
  • Chris Plummer
    Member since 2020 · 12 posts · 9 votes
    6y

    Count me in!

    1Reply
  • Nicolas Lovely
    Real Estate Broker · Charlotte, NC · Member since 2018 · 5 posts · 7 votes
    6y

    Hey @Aris Azar, congrats on that first deal! That aggressive expansion is definitely well-underway around the Charlotte area, and it doesn't seem to be slowing down anytime soon. What has drawn you towards investing in the apartments/condos over single-family homes? The association fees are often a larger % of the property value and rent with condos - which might reduce your future appreciation potential. On the flip side, the units do offer some protection against large expenses that can pop up: roof repair, plumbing, foundation, etc. 

    Are you open to investing in SFHs, or would you like to stick with the condos and apartments in the future? 

    1Reply
  • Brian Reed
    Rental Property Investor · Charlotte, NC · Member since 2020 · 4 posts · 5 votes
    6y

    @Nicolas Lovely

    Hi Nicholas - I'm also new, and am interested in investing SFH. I'll message you. Thanks!

    2Reply
  • Aris Azar
    OP
    Member since 2019 · 10 posts · 8 votes
    6y

    I've chosen apartments/condos over SFHs for the exact aforementioned reasons (protection against large expenses). The HOA fees I currently enjoy are somewhat reasonable (<$200), but a necessary evil for upkeep. While SFHs have potential (and I've considered maybe buying 1-2 to add to my portfolio), when looking at houses what I'm trying to possibly find are multi-family homes, but I'm having a hard time finding them in renter markets within Charlotte

    Thank you for the welcome! 

    Aris

    1Reply
  • Dylan Craig
    Real Estate Broker · Charlotte, NC · Member since 2015 · 8 posts · 11 votes
    6y

    Hey Aris, 

    Welcome to Charlotte. Good luck with your endeavors. Not sure what you are looking for, but let me know if you need anything. I own properties in TX, NC, and TN and its all the same. You shouldn't have any problem diving into the market here. 

    1Reply
  • Chris T.Pro Member
    Rental Property Investor · Charlotte, NC · Member since 2013 · 491 posts · 253 votes
    6y

    Hey @Aris Azar and @John Maxx @Chris Plummer @Brian Reed

    Welcome!  There are quite a few active investors here on BiggerPockets from the Charlotte area so a lot of good local knowledge.

    I also invite you all to come out to the local meetup I host for members here in the area.  It is the 1st Tuesday of every month.  

    Charlotte, NC REI Networking Meetup - Tues. Feb. 4th

    They are always a great opportunity to hear what others are doing and ask any questions you might have.  I hope you can all make it, but if not be sure to check the "Events" section here on BP as there are other local events as well.

    1Reply
  • Aris Azar
    OP
    Member since 2019 · 10 posts · 8 votes
    6y
    Originally posted by @Dylan Craig:

    Hey Aris, 

    Welcome to Charlotte. Good luck with your endeavors. Not sure what you are looking for, but let me know if you need anything. I own properties in TX, NC, and TN and its all the same. You shouldn't have any problem diving into the market here. 

    Hey Dylan,

    Thanks for the welcome. Currently, I'm just looking to slowly build my portfolio with a buy/hold strategy and mostly concentrating on apartments/condos as my vehicle. Wouldn't mind diversifying into multi-family homes within the next 1-2 yrs, but for now just starting slow, analyzing everything closely and aiming towards making sound investments.

    I love to sponge up all information that is shared, so I appreciate your feedback and insight into this market.

    Pleasure to meet you,

    Aris

    0Reply
  • Aris Azar
    OP
    Member since 2019 · 10 posts · 8 votes
    6y
    Originally posted by @Chris T.:

    Hey @Aris Azar and @John Maxx @Chris Plummer @Brian Reed

    Welcome!  There are quite a few active investors here on BiggerPockets from the Charlotte area so a lot of good local knowledge.

    I also invite you all to come out to the local meetup I host for members here in the area.  It is the 1st Tuesday of every month.  

    Charlotte, NC REI Networking Meetup - Tues. Feb. 4th

    They are always a great opportunity to hear what others are doing and ask any questions you might have.  I hope you can all make it, but if not be sure to check the "Events" section here on BP as there are other local events as well.

     Hey @Chris T.,

    Pleasure to meet you. Thanks for hosting such events. I look forward to joining you and some of the other local Charlotte investors in order to learn and share.

    I appreciate your welcome and look forward to meeting you sometime soon.

    Aris

    1Reply
  • Laura Shinkle
    Realtor · Charlotte, NC · Member since 2017 · 357 posts · 292 votes
    6y

    @Mindy Jensen that makes sense, it's just the wrong forum. Understood!

    with condo HOA fees, I've found that as long as they are below the $200-ish a month threshold, it still makes sense as an investment. Once you get above that it starts to get iffy

    1Reply
  • Nicolas Lovely
    Real Estate Broker · Charlotte, NC · Member since 2018 · 5 posts · 7 votes
    6y

    @Laura Shinkle I would mostly agree, but still be sure to vet the quality of the HOA. If it's not well-managed, they may fail to plan for a big expense and hit everyone with an assessment that could hurt for a few months. A cheap HOA could end up working against you if they're not charging what they should be upfront - but it just depends on the situation.

    With SFHs, you are responsible for setting aside reserves for both planned and unexpected expenses - hopefully from your cash flow. But remember once you pass inspections and get insured, you do have a fair bit of assistance available through your policy if something goes wrong unexpectedly. And during the purchase, you can always back out during your due diligence period if a red flag pops up during inspections. Some SFH HOAs will offer certain group hazard insurances, like earthquake or windstorm, but that's not much of a factor in this area yet. I fully support the condo/apartment path, but the SFH inventory opens up a lot of options!

    1Reply
  • Laura Shinkle
    Realtor · Charlotte, NC · Member since 2017 · 357 posts · 292 votes
    6y

    @Nicolas Lovely there is always that risk with an HOA, whether the fees are small starting out or not. And special assessments are always a risk, whether the fee is low or not. Looking at what the HOA pays for and doesn't pay for as well as amenities in the community should give you a good idea of what a typical monthly fee should be and go from there. Every property is different.

    Just for clarification, what exactly is the fair bit of assistance that you would get from your insurance policy? If the HVAC or water heater breaks, your landlord's policy won't help with any of that. Sure, if a tree falls on the roof, that should kick in. But general maintenance of the property wouldn't be covered by insurance, and an HOA in a condo would do exterior maintenance including landscaping.

    Bottom line there are pros and cons for both, and every investor is different as far as what they're looking for and how they want to invest. There's a million ways and as long as the numbers make sense, go for it. 

    2Reply
  • Nicolas Lovely
    Real Estate Broker · Charlotte, NC · Member since 2018 · 5 posts · 7 votes
    6y

    @Laura Shinkle You're right - the landlord policy isn't going to cover most equipment failures due to normal wear and tear. My thinking was that if a system fails and causes damage to the property, your insurance policy could kick in and help with part of the repair and/or replacement. An investor I follow had finished a property renovation and placed tenants - then the sewer lines backed up while they were doing laundry. The pipes were old and had corroded while the home was vacant during the sale and renovation period. Licensed plumbers worked on the renovation and did not discover any issues with the pipes. The leak damaged flooring and drywall, so the insurance company paid about $30,000 towards the repair and renovation. He had to pay his deductible and the cost of the new pipe, but they paid for the concrete cutting & replacement, drywall, paint, etc. I'm thinking there could be similar situations with other home components. Say there's a small foundation crack that goes undiscovered during inspection, but grows over time with freeze and thaw cycles and ends up damaging the exterior walls of the property. Once it causes damage, the insurance policy could kick in and help with repair costs.

    Overall, kind of a tangent here and not a situation you want to seek out, but there are cases where expensive latent defects could be partially covered by insurance if they cause damage to the property. It's probably best to inspect thoroughly so you can relax and funnel your reserves to the roof, HVAC, and appliances when their time is up. I can link the video I'm referencing if you're interested.

    1Reply
  • Laura Shinkle
    Realtor · Charlotte, NC · Member since 2017 · 357 posts · 292 votes
    6y

    @Nicolas Lovely gotcha! Yes, completely agree with you and hopefully that's a one time per property, max, situation! lol

    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free