Engineer · Chicago, IL · Member since 2012 · 183 posts · 22 votes
Hello all!! a good friend of mine is currently living in the Charlotte, NC and we are both discussing possibly starting an LLC to buy a few single or multi family properties in NC. What areas or zip codes seem like good up and coming areas?
Involved In Real Estate · Charlotte, NC · Member since 2013 · 2 posts · 0 votes
13y
Ramon, it depends on your goals. Are you planning on landlording? If so are you looking for good cash flow, low maintenance rentals or something that may be a little older but will appreciate quicker?
In the city I would look at Villa Heights, Biddleville, Plaza-Shamrock, Optimist Park, neighborhoods around Central and Eastway- Merry Oaks, Kilborne Park. There is a lot of rehabbing in these neighborhoods. Plaza Midwood and NoDa are very attractive to the young professional crowd so they are driving up values in the surrounding neighborhoods. The light rail will be going through the NoDa area and out to UNCC so that is a draw there as well.
If you are looking for a newer home with good cash flow. There are a number of 2000-2007 neighborhoods with vinyl clad builder grade homes that are good rentals. I would look in the areas near 485 in the Eastfield Rd and Northlake area and west along 485 and down toward Coulwood. There are also some neighborhoods along 485 from University City area down toward Mint Hill. Depending on the neighborhood you might be able to get a 50-80k house and rent it for $900-1000.
Engineer · Chicago, IL · Member since 2012 · 183 posts · 22 votes
13y
My friend will landlord since I currently live in California... Low maintenance with good cash flow is our ultimate goal... Thanks for the input @Paul Pearl..