All Forum Posts by: Finn Cardiff

@Finn Cardiff welcome to the neighborhood! I was born and raised in Chesterfield County, have now returned, and am now underway on my first BRRRR deal that I purchased here (23236) just under a month ago. There's a lot happening here in town and I am really excited about the growth.

Happy to also be a resource on good locations/contacts in this area. What Stephen and Taylor have said with regards to location is 100% true! 

@Finn Cardiff sounds good. I can put you in front of other local professionals that would be a good resource too. DM me and I’ll touch base end of this week. Thanks!

@Taylor L. Thanks for the mention!

@Finn Cardiff next time you're in town, let's grab coffee and we can review a map. What Taylor said is on point- could never get a true feel in RVA based on zip alone, but if you have the right people to bounce ideas off of you'll be much better for it. I'm happy to be a resource. I have 3 local SFH under contract that will all close in 2 weeks. Using BRRRR. Very familiar with Richmond and surrounding counties.

Sorry so short or for any delayed responses, vacationing in Cabo trying to relax before these homes close.

Richmond is great, and Chesterfield is definitely growing. I just bought in 23225. Richmond in general can be very block-by-block. 23224 and 23225 are gentrifying very quickly. Watch out for deals that are WAY "over the line" being marketed as though they're in the higher income parts. 

Sounds like you don't live in RVA though?

You're welcome to come join us at the Richmond Multifamily Meetup, right in the heart of 23225! This month we have @Stephen Glover teaching us how to master property management.

@Finn Cardiff

Thanks for starting the discussion and all terrific suggestions above. Another area you could consider venturing into is Fort Mill/Rock Hill. Significant amount of growth in these cities which has been spurred by Charlotte growth, however you do run into issues with higher taxes for non-owner occupants. Good luck in your search! I would definitely vouch for Mint Hill/Matthews area. My wife and I bought a project that we just finished up in Matthews and it was very easy to find good renters if marketed at the right price.

Jared Wonders

Just an opinion after buying 19 SFHs in a neighboring county over the past 11 years. I can't make anything cash flow currently using the MLS or a realtor. Low inventory and no way to compete with owner occupants. The only cashing flowing source I can find are auctions where I can accept more risk than OOs and rehab a dog into a nice property.

You might also give some attention to the cities north of Charlotte that are now much more desirable locations to commute to Charlotte since the expansion of I-77 is almost complete. Locations would include Davidson, Cornelius, Huntersville and Mooresville. Since these cities are all considered part of Lake Norman, rents will be high as will house prices. I suspect they'll be some decent near-term appreciation.

Hello @Finn Cardiff.  @Michael O. gave some good suggestions already.  I will second University area and Mint Hill.  I feel values in some of the areas you mentioned are pretty high, which may cut in to your profits.  While good school districts can pay a big role, I would not only consider the top districts.  There are plenty of families looking for a nice property in good areas all across the region.  I think people are more concerned about crime rates of areas than school districts.  

Type/style of property is not as big of a factor as location and cosmetics.  I would suggest working on building your team.  Find a good Realtor to work with who is very aware of the areas around town.  Also find a property manager you want to work with who can give their opinion on rents.  They should be able to lead you in the right direction.  Best of luck with your search. 

You`re welcome Finn, you might also want to check out Oaklawn (28206,28216) and you may also want to try out Gastonia which is on the outskirts and is somewhere that I feel has great appreciation upside.

Its a short drive from the airport and the Amazon distribution center, way cheaper than Charlotte proper and I think if you can get in early on properties the upside is pretty high