All Forum Posts by: Ryan Johnston

Hey @Matthew Collver!  We own a few short term rentals ourselves, and switched to renting for travel nurses when pandemic hit.  

Most contracts are at least 3 months long, and usually great tenants.  Can use Air BNB to fill in the gaps between contracts if needed.

Hi @Andrew Merewitz.  I'm just outside of Charlotte in Gastonia.  If you're considering long term rentals, it might be worth considering.  Neighboring Belmont has really exploded and growth in Gastonia is starting.  I'm an investor myself, but also a mortgage lender.  Happy to help if you have any other questions.  Thanks!

Hi @Imani Porter-Clinton  Congrats on getting started!  I'm a mortgage lender and also an investor in the Charlotte area.  Happy to answer any questions on the lending side of things, as well as investment strategy.  Feel free to reach out if you would like to chat.  Thanks!

@Ian Kurela Charlotte is a competitive STR market, but still an attractive one. I would recommend checking out Mashvisor or AirDNA, as they can tell you specifically which areas perform better than others. There has been some chatter recently about stricter guidelines with STRs in Charlotte, however nothing official as of yet. Just something to consider, and keep an eye on.

Good connecting with you, Josh!  Also happy to connect with those in the Charlotte area!

@Brittany C Spragins  Hi Brittany!  I'm a mortgage lender (also investor) and would be happy to help.  We can also connect you to an investor friendly realtor.  Please let me know if you would like to discuss further.  Congrats on getting started!

Hi guys.  Can anyone recommend an investor friendly CPA in the Charlotte area?

So I know this post originated previously, and while we aren't seeing the competitive offers to the extent they were a few months back, we are still seeing them.  Make sure to align yourself with a lender who will help you structure your mortgage, in order to strengthen your offer outside of just high due diligence.  Our clients have had some great wins in this market by utilizing an appraisal gap strategy.  This basically means putting less down, and paying an upfront mortgage insurance premium.  This allows the client to take the additional amount they may have had saved for a Down Payment, and apply it to their offer price.  By doing this, it enables you to keep your total cash to close and monthly payment about the same, however it strengthens your offer much more.  I realize this may be difficult to understand without specific examples.  Happy to send one to you if interested.  Just let me know!

Oak Island is great, and most likely the next area we are looking to invest. Happy to answer any questions you may have with financing, as well as STR. Good luck @Bryan Beam!

@Rigoberto Torres Meza  Both!  If I could go back in time, I would have undoubtedly bought a duplex as my first property.  Live in one side, rent the other.  It really is one of the best ways to begin your RE investing journey.  Benefit is that you can obtain conventional financing, as the duplex is considered your primary home.  Win Win!  Best of luck to you!