Own Airbnb on Lake Norman, looking to expand

New York City, NY · Member since 2018 · 26 posts · 2 votes

Hey,

I currently on an airbnb on lake norman and I'm looking to expand around charlotte. I am interested in adding some more long term rentals in surrounding areas. I'm not convinced prices are going to "crash" any time soon, if at all, so thinking this as long term investment and not a quick flip. I'd like to hear what areas you all have had success in. I've spoken to a few realtors as well. Multifamily seems few and far between here, but I am interested in building up a portfolio of SFHs/condos/townhomes. Looking to just connect with like minded individuals as well!

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Alfonso Giacomucci
Member since 2018 · 27 posts · 9 votes
4y
Andrew,
The market has been great in Charlotte, and everywhere I guess. Let me know if you're looking to build multi family, we have some modular options available. Good luck and I'm sure you'll kill it down here.
Al
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Tiamo WrightPro Member
Denver · Member since 2021 · 149 posts · 126 votes
4y
@Andrew Merewitz I bought a property on Lake Norman with the intent to Airbnb it and instead made it my primary residence and rented out my old place. The Lake Norman and Charlotte area seem to be still in the "affordable" range as compared to several other markets but the benefit of also being desirable. I am saving up more cash for the next investment but also love connecting with like minded folks in the market.
[email protected]
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Andrew Merewitz
OP
New York City, NY · Member since 2018 · 26 posts · 2 votes
4y
@alfonso - please connect with me and let's see what we can make work. I have the funding, just looking for the deals that make sense these fays
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Ryan Johnston
Lender · Charlotte, NC · Member since 2019 · 67 posts · 72 votes
4y
Hi @Andrew Merewitz. I'm just outside of Charlotte in Gastonia. If you're considering long term rentals, it might be worth considering. Neighboring Belmont has really exploded and growth in Gastonia is starting. I'm an investor myself, but also a mortgage lender. Happy to help if you have any other questions. Thanks!
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Jim K.
Rental Property Investor · Charlotte, NC · Member since 2017 · 271 posts · 259 votes
4y
Happy to connect. We own quite a few LTR's in the metro.
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Patrick Holmes
Financial Advisor · Charlotte, NC · Member since 2022 · 10 posts · 3 votes
4y
Andrew, there are some good finds for airbnbs or house hacking just depends on what you're looking for. Personally, I've found success with house hacking new construction homes and this is a good way to lower the competition for homes. The used home market right now is tough as an investor. Would be happy to chat about specifics for areas to look in.
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Aaron Bauer
Real Estate Broker · Charlotte, NC · Member since 2022 · 42 posts · 33 votes
4y
Hey Andrew. There are numerous areas surrounding Charlotte that have seen continuous growth over the past couple years. With that being said, I believe different pockets are served for better purposes than others. For example, one neighborhood in Gastonia might be better for fixing & flipping while the neighborhood adjacent to it may be better for short or long term rentals. Essentially, I recommend looking deeper than just areas/cities as a whole and focus more specifically on neighborhoods or zip codes.
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