All Forum Posts by: Ryan McGlasson

@Samuel Collier Hello thank you for your input, I had noticed that when I was looking into Raleigh and Durham. It is nice to know that there is a great potential in the city since the others are beginning to flood with people. I had always heard Greensboro was great for multifamily housing but I have seen a fair amount of nice looking properties around Greensboro, I only need to find what neighborhoods are desirable.

@Nicolle Mulvey I have seen Kannapolis as a great potential investment area as well it seems to be a wise idea to always diversify and spread your portfolio.   

Is the greensboro market still a decent place for deals on single family houses?

@Alex Franks I believe that most markets in the US are increasing right now, but I have looked at other potential cities that meet the requirements I am looking for with houses much lower priced. I only need to look into each city in greater detail of course. 

Thank you! I most likely will. 

Thank you for the info on Gastonia, was not familiar with the area.

HA. Well I will definitely try to look for an agent on this who is an investor as well. 

That is also a large factor in where I am looking of course, with harrisburg I am more willing to pay a higher price because of the close distance to the large universities. I would want less drama and turnover because I would be living in the first property renting out the rooms. 

The first one I am managing myself because I am in the residence so there is no need to spend that money but the 2nd investment I will get a great property manager.    

@Souvik G.             I am definitely going to make improvement renovations to the properties while I am there to increase the value. I believe looking into properties needing minor work would help open up the amount of possible deals available.

@Harry Marsh I agree driving distance to Charlotte is important, I had been looking at the concord area and near Harrisburg as well. Gastonia although it does show some great looking cash flowing properties it is a bit far away from the major colleges.

You do have a great point about networking, it helps to get deals before everyone else gets an eye on it. Do local agents tell you honestly if you are offering on a house with equity? 

Thanks for the reply!    I would be financing the entire house because of using a fha loan. I don't think a subject to kind of house would work for my gameplan because of that reason as well, the large sum of cash for the investment. The sum of cash I have Is not for the down payment but for the security of the next 6 months after the purchase. 

Would it maybe be a wise idea to look at other north carolina cities? Charlotte had seemed like such a perfect city because of the colleges nearby and tons of work downtown, it hinted to me it would be easier to find roommates to rent out the rooms to while I live there.

Hello, from the title you can guess what the question is. I'm still a newbie at real estate with no deals under my belt looking to have my first one be a fha owner occupant sfh in the charlotte area. Over the past year I have observed charlotte I have seen the prices steadily rise for 3 bedroom sfh style houses from around 140-150k to 170k-200k. 

My question is, is the charlotte market becoming too close to a seller market in a few years to start beginning investing in that area? I have always read to look for that first deal around 80-140k maximum and I have seen increasingly less and less houses that meet the requirements I need. Am I maybe misunderstanding the local market? Or not seeing possible deals on the mls?     Again I'm very new, sorry if my questions are a little silly! Have to ask to learn :) Thanks in advance everyone!

Well that is great to hear, probably hard to complain for me compared to the commute here in Sacramento ha! 

Thank you so much for the information, it clears my mind a little because I was really unsure of some of the surrounding areas but you have definitely steered me in the right direction. 

I have used craigslist and random other sites like roomster to see what room rentals go for in the area to calculate my expenses and income etc and to also see how much of a demand there is for single room rentals/roommates. There is quite a lot actually, they are always of course more frequent the closer to downtown or the plaza but there are definitely some quite a ways as well which with your information is a little reassuring.  

That is a great idea, thanks for the recommendation! 

@Mike DeLong   Hello! Thanks for the reply, these are new areas being constructed correct? Or has it actually already been completed? Not sure!

@Harry Marsh

Definitely, research is key! I had been looking at the area just outside 485 between both mint hill and harrisburg, just was not sure if most properties outside the 485 ring are too distant. 

Funny enough I have seen just the type for sale you are describing! 

I have definitely noticed that as well the more east to Concord the areas are quite nice. Is generally near harrisburg and concord a decent commute time to downtown or the surrounding colleges? 

28269, I was observing this area a lot and noticed just that, decent prices but the homes are crammed with each other in okay neighborhoods. Until like you said you get north of 485.  

It definitely is hard to invest somewhere out of state but I at least have a decent amount of time to really look into every possible area and narrow it down to certain ones to keep an eye out for an investment to jump on. I always make location the most important factor when looking, the numbers can be nice but if isnt a desirable location or area I will happily pass on it for a wiser choice. Not always looking specifically for appreciation but its much easier to assume your home will appreciate if the rest of the street is looking and doing well I suppose. 

Sorry I dont think I clarified that specific portion very much, I wont be doing room nightly rentals for the home, ONLY the one that I currently live in will I rent out rooms in.  

I agree the further from downtown it will be more difficult in general, but non daily room rentals just renting a room on a lease for 3-12 months do you think it will be too difficult to find any applicants for a roommate if you live more by harrisburg or indian trail and not extremely close to charlotte? I just ask because I would assume the ones needing an individual room would be more of college students or professionals/interns. 

Your response was really helpful! Exactly what kinda feedback I was looking for to see what others opinions are on various areas and their ideas.