Investors-Read This Blog!
The Real Estate market is an even changing event. In years past I dealt mostly with clients that were purchasing property for their own personal use. This type of buyer is where I spent my marketing dollars. (Even thought most of my business is either repeat business or referral business). Today is completely different. I still have my repeat customers and referral business, but today it seems like the best and most plentiful buyers are INVESTORS!
In the Charlotte market, there are some wonderful deals! Certain parts of Charlotte, there has always been a demand for rentals. In the past years (even in 2008), new home developers have gone in and built single family residential for clients. In this market, with the need for better credit, more money down, etc, these developments are not selling as well as hoped. In return, the builder has lowered the prices of their homes so people could afford them. What has happened that investors are swooping in these neighborhoods, purchasing these new homes, and renting them. This is a smart move. Depending on what type of renters they have, it does not effect the neighborhood in a bad way. It is the owners reponsibility to make sure the homes are kept up in line with the neighborhood. You do not want your house to stand out as a renters house.
I am working with investors from the northeast and California. My goal is of course to find the best house for my clients to use as a rental property for a couple of years so when the market makes an up turn, my clients can sell the property for a nice profit. Today, there is a need for rental property in all parts of the Charlotte area. There are some great house prices in the Charlotte area, from the small ranch to the majestic mansions. All can be used for rental property, as long as the neighborhood allows rental property in the neighborhood. Some neighborhoods do not allow rentals, so we have to be careful.
The reason for this blog is basically to call all investors who would like to purchase a property in the Charlotte Metro area. With apartment rent on the rise of 5-15% in the past six months, why don't YOU make some money. I have dealings with a great mortgage broker, whose company still allows Investor Loans, with 10 percent down and good credit. Why not give it a try. Finding renters is not the hard part, believe me. I would put your property on some websites, and you will start getting the calls with a week. Also, there are some great Property Management companies in our area. Their fee is nominal. They also take care of everything, with in reason, for you. Give me a call today and I can give you a list of management companies in our area. In north west Charlotte, a heavy rental area, it seems like the average rent is 55-60 dollars per square foot. With a garage (one or two garage) it goes up to about 70 dollars a square foot. I have LISTS of houses that ready to be purchased. Some properties are pre foreclosures to foreclosures. They are going fast, so give me a call today.
When you want more information on these great deals we are now having, contact me.
John Sloan, Broker
Southern Winds Realty
704 488 3750