Triad or Outside Charlotte for Investment? Opinions Wanted
My husband and I have experience in SFH rental and fix/flip. We are moving to NC and visiting next week. The Triad, especially Greensboro looks good to us, but wondering if the Rt 16 construction from Newton to Charlotte is going to make that a viable area for investment. We have heard commuter time will go from over an hour to 35 minutes. If that is true, is it still too far? Would Belmont be a better option? Initially we liked around Lake Norman but think we are priced out of that area. We are near retirement and looking at strategies to support that. All insights are greatly appreciated. Also, names of realtors and/or investors in both areas would be wonderful. Thank you all so much for your time. If there is interest, I will be glad to post about the results of our trip.
Good morning Barbara my name is John Lowery my wife and I recently moved from Mint Hill to a little town east of Charlotte called Midland it's country for sure and I am currently exploring the investment opportunities here I have yet to close my first deal but areas near here are definitely on the uptick perhaps you and your husband should research this area
@Barbara Harrison Hi Barbara. The Triad is a great area for investing. The route from Newton shouldn’t affect the Triad. Greensboro will always be a great place for investing. People are moving here and we also have 5 colleges so many opportunities for rental income. I’m a local realtor. Let me know if I can help.
Hey Barbara,
The Triad has grown considerably over the years and still has plenty of population growth to support future development. My wife and I primarily invest here in the Triad as well as Wilmington NC. Rentals and flips. We currently rent out a room in our primary home on Airbnb as well (in Greensboro). Please let me know if you would like a tour of the area when you are in town. We can do a pre-visit call to go over exactly what you are looking for and areas that are in demand. My opinion on the outskirts of Charlotte is positive. I believe those areas will grow but you will be spending a considerable amount of money to invest in those areas. The Triad offers value and appreciation potential. The 1% rule is fairly easy to obtain here and we find decent flip deals off and on the MLS. I would recommend joining the Triad REIA as well. I have met a bunch of local investors, mentors, and friends in that group. I'm working on a BP meetup in our area as well. Good luck to you.
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Real Estate Agent North Carolina (#309381)
- 336-601-6995
- http://www.investinthetriad.com
Hi @Barbara Harrison. Congrats on your upcoming move to NC. The triad, (Winston-Salem, Greensboro and High Point), is great! Winston and Greensboro specifically are seeing great population and job growth. As @DeMarrius Payne and @Jason Coleman mentioned, the area is a great place to live and invest. I've lived in the triad for 29 years (born and raised in Winston) and in NC my whole life. I would be happy to provide feedback if ya need it.
Welcome to North Carolina Barbara. The cities you mentioned each have potential. I would stay away from some of the smaller towns. Some are based upon one employer or one industry and any impact to that one could degrade your investment. For Charlotte I would recommend speaking to Kathryn Cook Crespo, she's more investor focused. Let us know if there's anything else we can do to help. Happy Investing!
Thanks so much for the quick responses. Can't wait to see the Triad in person.
@Jason Coleman, I'm looking to get involved in some action in Wilmington. I see you do some investments here, but live in Gboro. If you see a property in question here and looking for someone to do an eyeball on it real quick, let me know.
@Jason Coleman, I'm looking to get involved in some action in Wilmington. I see you do some investments here, but live in Gboro. If you see a property in question here and looking for someone to do an eyeball on it real quick, let me know.
Hi @Barbara Harrison, welcome to NC! I'm in the Charlotte area and I like your forward thinking towards the NW side of Charlotte. Lots of investors are focusing on the Belmont/Gastonia areas to the west of Charlotte. It's not a bad area for sure, and is appreciating rapidly. However I like the 28216 zip code area. The access to 485 within the last 2 years has made it much more accessible and reasonable of a commute than previously. In the last year, I've seen that zip code appreciate over 16%. Not too shabby.
If you're looking for rental properties with good cash flow, the triad area may be better, though. The 1% rule is getting tougher and tougher here, since the market is expanding and appreciating so quickly. Prices are now generally exceeding that. Just my two cents!
Thanks to everyone that responded. Our trip to NC gave us good insight into the Triad area which looks to have some great opportunities for investment. Leaning towards the Clemmons area for condos or SFH. Anyone know the area well?
Hi @Barbara Harrison, just curious where you ended up! Have you moved forward with the Clemmons area?
Thanks Laura so great to hear from you. I really appreciated your advice before our trip. Nothing solid in Clemmons - we simply don't know enough about these places (schools, safety, etc) to feel comfortable enough to invest). Unfortunately it's probably going to be a rental first just so we can get out of UT and into NC. Our hope is to get something we can live in now and rent later after we purchase a primary. Plans are to be in NC no later than January.