All Forum Posts by: Alex Franks

Hey y'all, so the CLT market is WHITE HOT right now, it's ridiculous! Which is a good thing and bad thing haha. So, I'm looking for an area around Charlotte that I should start exploring.

Sorry if this doesn't make a whole lot of sense! My mind was bouncing around when I wrote this haha

Hi Guys,

My wife and I have bought and sold several houses over the years and now we're looking at buying rental property near our home in Columbia, SC. For those that aren't familiar with Columbia, it's the state capitol and the University of South Carolina is located there. We are looking at a 2/1 duplex that is just a block or two away from the university athletic fields. The unit is old and has not been taken care of however it's made of cinder block so there's no real damage to be done. The current owner has not leased to college students in the past and has a tenet that has been there for 26 yrs and only paying $400 per month! We feel like it can be cleaned up and rented for at least $650 per month but we have a lot of questions and we're a little nervous about pulling the trigger. Any thoughts would be greatly appreciated? The website is great. Thanks.

Brandon

@Michael Bowman I thought you did not like us investors ....? LOL

@John Williams

Sounds like a great event Don. I'll try to make the next one on Aug. 27th. 

so there are other Rock hill investment folks 😀

Hey vance. I currently own a  car lot in Rock Hill and I am looking to fix and flip some Charlotte area properties in my spare time. Also looking into some possible joint venture flips. Im still a newbie myself. Shoot me a message if you want to link up! Same goes for you Patrick! Thanks, Ryan

Join us for our weekly investor meetup! Focused on helping investors find good properties, ideas on streamlining your rehabs, finding funding, and much more!!

Hobby Millionaire is the largest real estate meetup in the Charlotte area. We meet multiple times every week - find out more at http://www.meetup.com/Hobby-Millionaire-Real-Estat...

Hi Bigger Pocketers! I am Rasheeda and I'm a Real Estate Investor new to the Charlotte area. I was referred to BP by a contractor. Oddly enough, I am looking for contractors, private money lenders and people interested in sharing what they know (you don't have to call yourself a mentor) because I need help.

I look forward to meeting, greeting, learning and making money in this enormous BP world. 

Hi Rasheeda! 

I'd love to connect with you. I'm an agent and investor myself in the area. Also, one of the agents on our team, @Account Closed, has a new investors meeting here in Charlotte. Next meeting is August 4th and I'll actually be doing some talking about my investment experience and answer any questions investors may have. 

Let me know if we can help! 

I tend to do a lot more reading on this forum then posting. But from what I see I think the rental rates are quite a bit lower in our area then other places in this country. 

I live about 10 miles outside the outskirts of Charlotte NC. Not a small city at all but from the sale prices I've read on the forums V.S. what they are getting for rent is crazy! 

First off I don't own any properties YET. I've been antsy but want to get all the education I can before jumping in. The homes that im looking to invest in are 50-125K. The rent for an average $100K house is $650-850. Some on here are getting $1,200-1,350 for a 100K house! 

From all the numbers me and my wife have been generating it looks like our average cash flow from a rental would be in the ballpark of $80-200 tops. It is going to take us quite a few homes to get the $4,500 we need per month for her to quit her job. As depressing as that might be it is only lighting a deeper fire under my butt to get out and find better properties. My wife was reading that some on here are cash flowing over 1K per month on a SFH and wanted to know how this is possible? I told her that more then likely is not possible for our market and that we need to concentrate on which side of town we will invest in to get the best return.

We live in a rural area where rent is even cheaper, I'm considering concentrating our efforts closer to the city limits to keep rental rates up. 

On to my question. What tends to be a good driver of rental rates in everyone's market?  We have several colleges, large national factories, speedways, concert arenas, government agencies and all that any other large city would have. But what keeps our rental rates lower then what I'm finding elsewhere?