All Forum Posts by: Matthew Wagner

I had to relocate to NYC as well from work from the Carolinas --- I'm buying my first REI next week back down in Charlotte. Feel free to reach out if you'd like to chat. I'm younger, 30, so in the same boat you are.

And PS --- if you make what I make, there is no affordable way to own in NYC and househack haha.

@ Raul R.

Thanks for your response!  I greatly appreciate the detail and the personal experience.  I used to work in the University area ... UT North?  I'd love to chat with you about Charlotte and your experience further if you're willing to shoot me an PM!


@Chris Claflin

Very valid points ... and I hadn't considered when I would be unavailable, which is often due to work.  Thanks for pointing those out.  I'll be checking out your management company online.

I guess I'm worried most about despite getting the house at a good price, when you begin adding everything up, it doesn't allow for much wiggle room!  What, generally speaking, is the amount of money you're looking to net a month?  I was hoping for $300, but I'm not so sure that'll happen ...

Hey guys --- I'm closing on my first REI property in Charlotte, NC on 09/01. I am from that city, but I currently live in NYC -- which is clearly prohibitive for a first time investor to try and wiggle into the world of real estate investing.

Anywho, this property I'm purchasing is a 2 bedroom, 1.5 bath townhouse located in a pretty convenient part of town. I got it for 102k, putting 20% down, after everything is added in, looking at around 830 overhead (P&I, taxes, insurance, and the damn HOA fees).

I feel confident I could get at least $1100/month for this place, but my current dilemma is that I don't know how to really advertise and get tenants in place.  My friend recommended ***********, which seems okay in the long run, but I close on Friday 09/01 and I'm back to the city on Tuesday.  I guess I could list it on *********** and try and get showings that weekend?  What are your guys' strategies for those that don't use property management?  Or should I just eat it and get a property manager and cut into the cash flow?

I have plenty of liquid assets to get me through, so I'm sure I'll make some costly mistakes along the way, but I want to try to mitigate as best as I can.  Thanks for the help guys, and pleasure to be here!

Matt