Anyone familiar with the Newton, NC multifamily market?

3 Replies | Charlotte, North Carolina

Hello BP,

I am looking at an opportunity on a multifamily in Newton, NC.   Are there any locals with feedback on the this location?  Is this a growing Charlotte suburb or too far removed to benefit from Charlotte's growth?

Thanks!

Mike Blankenship 

Hey @Michael Blankenship

I'm investing in the areas south of Newton but have a keen eye on the multifamily market from Gastonia to Asheville to Lenoir.  PM me and I can give you a bit of feedback.

Newton is pretty far from Charlotte to really be considered taking advantage of the city's growth, in my opinion.

It seems every investor from all over the world is looking at Charlotte for multi-family opportunities. lol. I talk to people about this every day, with new people asking me every single day. If you want something on your own, you'll have to convince an owner to sell to you, and not anybody else that has been beating down their door to buy their property. 

The best I can do, is help people connect on the ground level with companies that are acquiring cheap, and building new construction here. There is a way to make money, and retain ownership, but if you're wanting to try and buy a multi-family here, you're about 6 years too late, or you'll massively over-pay at this point. The only way is to try and convince someone to sell to you for cheap, but everyone here basically knows that their multi-family is valuable. Everybody wants one.