Permanent financing in place for qualified home buyers, and up to $48,500 in City, State, Bank, and Non-Profit down payment assistance and special financing for each qualified buyer due to only 12.3% homeownership in census tract.
Is anyone interested?
Ted White, Project Manager, 704-492-1819
Metrolina Real Estate Investors Association, Inc.
7621 Little Ave.
Charlotte, NC 28226
Phone # 704-523-1570
I can guide you for where to focus.
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Nate Wolf was recently named a FIVE STAR REALTOR by Charlotte Magazine. He is a top producing real estate sales broker, representing both buyers and sellers. He is a member of the National Association of Realtors, The Charlotte Regional Realtors Association and the Carolina Multiple Listing Services. He is licensed in multiple states and serves all areas of Metro Charlotte from Lake Norman to Lake Wylie and Uptown / Center City to SouthPark and Ballantyne.
charlotte mls realtor home listings
1.What is the unemployment rate in Charlotte?
2. What is the rental rate for your basic house?
3. What is the vacancy factor?
4. Who is the top propety manager in Charlotte and what zip codes do they find rent the quickest?
There has never been a better time to buy investment property here in the Charlotte area. Wether you have cash or will getting a loan, the numbers work! There is always a need for rentals and yes, the need is greater now than in the recent past, there will always be a need. If you are buying near the bottom of the market, which you certainly would be, you will be more competitive with rent than others when the rental need isn't as great. You should also be able to cash out and make a nice profit (to re-invest hopefully) if you hold on to them until the market makes its way back up.
Best of luck to you!
Over the last few months I have seen an increase in the purchase of second homes and investment properties. Because interest rates are low and there are so many foreclosures/short sales/distressed properties on the market, it makes the allure of purchasing investment homes for rentals that much more appealing. For example, one neighborhood I farm has multiple homes for sale right now. About 6 months ago there were a few that were even in the $50-$60k range in a neighborhood where renovated properties were selling from around $120k. Most of the cheap ones got scooped up and I am now seeing them reappear as rentals and homes for sale. Investors are not only looking at the opportunities to "flip" the distressed homes, but are able to afford to purchase multiple properties in popular areas and find renters. Because, in general, it is more difficult to obtain financing on a home many of the would-be buyers are continuing to rent until financing regulations relax or they have time to save for a downpayment or repair credit.
Plus, as Charlotte is still highly ranked as a desireable place to live/relocate, there are families and business professionals who are relocating to the Charlotte area for work, but many have homes to sell in different states. So, they are unable to purchase and are looking to rent.
As far as knowing "how long" it will be a good rental market in Charlote, no one really knows. I imagine it will continue to be 2-3 years before the distressed property inventory goes down and we don't know what the banks will do to change financing regulations. But, people are always going to need housing - especially affordable housing-- and until job security and the economy picks up, I think your investment in rental homes is probably a safe choice.
I have a few properties listed that are within your price range and that have been consistently rented if you are interested in taking a look at a few. Or if you have any areas of focus, I am happy to provide other options as well.
Let me know if you have any further questions as I am happy to help! :)
Have a great day,
The price of homes youâ€™re talking about is going to appeal primarily to college students.
Durham, Chapel Hill and Raleigh are growing more quickly than Charlotte and this has been the case for the past few years. Within an 8 mile radius you have Duke, UNC, and NCCU as well as two major teaching hospitals (Duke and UNC). I think you're going to find this a better market than Charlotte for what you're looking to do.
I work with investors such as your self regularly. If you're interested in this area, feel free to contact me. If you want you can look at everything listed for sale on the MLS that serves the Durham-Chapel Hill - Raleigh area on my website to see if you're interested.
This is defintely a good time to buy a rental property. As others have said; the market in Charlotte is robust for renters right now. The diversity that Charlotte offers brings people form all different parts f the spectrum and from all over the United States to Charlotte. I own a few investment properties personally. I have also helped investors purchase properties. The one variable they all had in common was the speed in which they were able to rent out the houses.
Charlotte offers a wide range of rental possibilities for you depending on where you purchase as well. There are areas around the university that do extremely well. However; those are going to be catering more to the college students than professionals. And other pockets of charlotte tend to be easier to rent homes due to location. People like convience and want to be near main roads and highways.
With the diversity Charlotte offers from the universities and colleges to the second largest banking capital in the United States, to cost fo living and companies moving into Charlotte the rental market appears like it will maintain it's strength for some time. There is too much diversity in Charlotte for the rentla market to dry up. Charlotte si not solely dependent on anyone industry to maintain it through the economic recovery. That will allow Charlotte to grow and continue to be a strong market to attract people. With more people coming to Charlotte; they are going to need places to live....thsu the rental market will remain robust for the foreseeable future.
Licensed in NC & SC
Coldwell Banker United, REALTORS
Charlotte continues to attract many investors like yourself for the reasons you have indicated. Many of us could give you a lot of insight on the market in general, but just like with any city there are going to be great opportunities and opportunities that will be a dud. It will be best for you to utilize the services of a REALTOR who is familiar with investment real estate, rental markets and property management to help you evaluate the particular opportunities you will consider on a case by case basis.
Owner of Group 15 Real Estate
Lisa Nye, Keller Williams realty
House to Home Realty, LLC
Let me know if you want more help. It helps to have the ground work laid out before proceeding.
Thanks for inquiring!
Allyson Ward, Broker/Realtor NC/SC/GA
Allyson0611@gmail.com 704.622.9506 cell
I agree that there are some great investment opportunities in Charlotte right now. Many buyers come to me each week who want to buy a home but do not qualify based on today's new credit standards. They end up renting homes and townhomes because they want away from "apartment life."
You will need to be very aware of the area that you choose to purchase in and analyze how other rentals in the area have performed. As long as you do your research, you should be very happy with the success of your rentals here in Charlotte.
Don't hesitate to e-mail me for more information or available properties.
Allen Tate Realtors