All Forum Posts by: Sterling Clifton

I have a little over 200k that I would like to invest in a multi-family unit/apartment. I have been pondering on whats the best way to go about this. I own a piece of land that I could have maybe a 12 unit apartment built on, but with the price of wood so high, I'm not sure if that's a great idea. When looking at some multi-family homes that are on the market already, they all just seem so run down that it would just be a huge hassle to deal with, let alone attract any decent tenants. 

Not sure what the best option is and I'm open to other options.

Does anyone know of a closing company that handles contract assigning here in Charlotte or the surrounding areas?

Does anyone know of a closing company that handles contract assigning?

@Kris L.

I’ve taken those into consideration as well. However, for vacancy, the properties being so new they look a lot better than majority of the other rental properties around therefore, they get rented very quickly. Each of them had about 30 applicants within 48 hours of being posted. Also, me and my wife have been managing the properties together. Also, as far as damages they are new so no major expenses should be a problem at least for the next couple years but I’m sure I will come across some more minor things here and there.

@Suzanne Sevier

My goal is to get at least 4 to 5 single family homes and then get into duplexes, triplexes or fourplexes. Even when looking into those multi family homes, working with a local company that builds them appeared to me as a better choice then purchasing old ones. Mainly just because there’s not many in my area and in my area everyone is really into the new modern style look of things; having a nice new fourplex built would bring in really great cash flow and not many capital expenditures for the first couple years.

I'm 23 years old and I have purchased 2 Brand New homes. 1 was built in 2019 and the other was built in 2020. My mortgage payment on each of them is around 1k a month but they are both renting for 1,800 a month. So I am profiting around $800 a month from each of those. The income seems great but I hear lots of talk about how it better to buy older homes and fix them up and then rent. I understand that gets more equity with the forced appreciation but I'm not too concerned about the equity as I don't have any intention of selling. I am planning on getting my 3rd property soon as want to know if going the same route I have been a good idea.

Let me know your thoughts

Thank you

I’m 23 years old and I have purchased 2 Brand New homes. 1 was built in 2019 and the other was built in 2020. My mortgage payment on each of them is around 1k a month but they are both renting for 1,800 a month. So I am profiting around $800 a month from each of those. The income seems great but I hear lots of talk about how it better to buy older homes and fix them up and then rent. I understand that gets more equity with the forced appreciation but I’m not too concerned about the equity as I don’t have any intention on selling. I am planning on getting my 3rd property soon as want to know if going the same route I have been is a good idea.

Let me know your thoughts

Thank you

I currently live in Charlotte NC but I am interested in getting some rental properties in South Carolina more specifically Lancaster, Rock Hill, and Spartanburg. I would like to see if there is anyone on here that could give me some advice on how well rental properties do in these locations.