Rental Property Investor · Atlanta, GA · Member since 2012 · 256 posts · 64 votes
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!
Investor · Charlotte, NC · Member since 2015 · 13 posts · 6 votes
11y
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!
Principal · Charlotte, NC · Member since 2010 · 200 posts · 89 votes
10y
Hi @Alex Porter ... not sure any of us ever want to answer the question on "if a market is appreciating" but i will do my best...
I invest in 3 different real estate markets around the country and i qualify each market a little differently... some are cash flow only markets, some are appreciation only markets and some are a balance of each one.
I personally believe Charlotte offers a fine balance of both cash flow and POTENTIAL for appreciation. When i am evaluating investment property for myself or my clients i prefer to stay focused on IF the numbers work right now rather then doing my numbers based on future growth. I never know when another 2008 is going to hit and if /when it does i prefer to have my rental properties with enough income to easily cover the expenses and enough cash flow for me to work with each month if need be. I am sure there are many schools of thought on this topic but this is my personal approach. for better or worse :) good luck.