I went under contract on a 3 bed, 1 bath rental in Fayetteville a couple of weeks ago. Looks like it's going to need a bit of work, but will cash flow about $200/mo and have a CoC ROI around 10%.
I went under contract on a 3 bed, 1 bath rental in Fayetteville a couple of weeks ago. Looks like it's going to need a bit of work, but will cash flow about $200/mo and have a CoC ROI around 10%.
I am under contract on a 3/1 rental as well with very similar numbers. Congratulations!
The Charlotte market has remained red hot throughout the past several months of uncertainty with no sign of slowing down. Definitely a great place to invest!
As mentioned previously, we closed on a Wilmington property Tuesday (9/15), listed it for rent Wednesday (9/16), and leased it Sunday (9/20). The property will cash flow $350. Somewhat surprised to get a qualified tenant in less than a week, only had to do one showing. Ready for the next one....
@Dean Bogan, I'm from Wilmington, but have been in the DMV area over 30 yrs. I was in the Port City over the weekend! Ive3been looking a little there and nope, there's not a lot. I'm considering moving to the Raleigh area, but trying to wait for the buyers market to kick in. Good luck in finding some great properties!
Hello everyone I'm a newbie to all of this but I've been paying close attention to how the market moves. I'm from Union County NC southeast of Charlotte. This area as well as the other suburbs to Charlotte would be a great look.
Hello everyone I'm a newbie to all of this but I've been paying close attention to how the market moves. I'm from Union County NC southeast of Charlotte. This area as well as the other suburbs to Charlotte would be a great look.
@Jeffery Gibbs where are you buying in Winston Salem? I'm new to the area and looking for the C+/B neighborhoods. Have any property managers, lenders, wholesalers or contractors you would recommend?
@Mark Linder My wife is a Real Estate agent in this area and around Elkin. She just started working for Premier Properties, they also do management. I am doing most of the work myself, at this point but will be happy to share if I run across any of those people. I have found a few great deals in the Elkin and surrounding areas this year.
I am actively looking while working on turning over my Rental. I am a Licensed NC agent at FamLee Realty in the Charlotte and surrounding areas. Open to networking.
My wife and I watched some YouTube videos tonight on Leland, and really liked the look of the area and homes.
Then we stumbled onto some videos within the last 2-3 years showing tornado damage, hurricane, and major flooding. Another video stated that Leland was 14 ft lower in elevation than Wilmington, so if/when the river runs high, flooding would effect Leland, way before Wilmington.
We were both thinking house insurance has to be very high there. So...how bad is it?
My wife and I watched some YouTube videos tonight on Leland, and really liked the look of the area and homes.
Then we stumbled onto some videos within the last 2-3 years showing tornado damage, hurricane, and major flooding. Another video stated that Leland was 14 ft lower in elevation than Wilmington, so if/when the river runs high, flooding would effect Leland, way before Wilmington.
We were both thinking house insurance has to be very high there. So...how bad is it?
Wind and hail insurance is required on top of standard homeowners insurance. Wind and hail is often more expensive. The benefit is that it is a pool program and any claims won't necessarily increase your individual rate. Lots of people had claims over the last few years due to Florence and other storms. The wind and hail rates will likely continue to rise as a result. This can be priced into rent.
@Dutch Langley Hey there!! I have a friend Micheal he’s an investor agent heading out to Charlotte next week can I give him your info maybe you guys can link up?