Updated over 10 years ago on . Most recent reply
Charlotte Investors?
Does anyone on the forum invest in the Charlotte area?
Have heard good things about the rental market, was curious to see what your typical pricepoints are to purchase properties and what rent income is usually in decent blue collar areas. I visit there often, but don't know the market very well. Thanks!
Most Popular Reply
Charlotte is a great market and has a great outlook. Expected population growth of 70% over the next 20 or so years. The market is competitive, but there are deals. I have a few properties in Charlotte and NJ. I personally like single family homes with at least 3 bedrooms. I had a few 2/1 duplexes that did ok but they aren't as desirable as 3/1.
Be careful of the neighborhood. I have found that properties in the $550 to $750 p/m price point typically have high turn rates. I have seen properties in that price range turn tenants within 8months. The acquisition price may look good but the NOI.. no bueno!
I am always up for a good RE convo. Feel free to connect!