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New construction, anywhere as long as it's within the first 2% of completion is also a great strategy. Your first tenant is the builder who can leaseback and with 6 months notice you can begin advertising. You also have a home that's typically received the max. in upgrades. 225 is an easy price cap and there are many areas of Charlotte you can look at in this price range. I would consider NW Charlotte as well as any subs between uptown and Kannapolis.
Loves Mountains-can you give me cross streets that would put me in Oakhurst or tell me how to search that area? Thanks!
Sure. Roughly Oakhurst is divided down the middle by Monroe Rd.
It's western border is Craig Ave, it's southern border is Sharon Amity, it's northern border is Wendover Rd and it's eastern border is Independence Blvd.
Another thought...an even better place to buy right now for quicker appreciation and great rental potential is just a bit further toward uptown from Oakhurst - Chantilly. It is getting VERY hard to buy in there under $300,000, but if you could do it you would be sitting on a gold mine. The neighborhood is adjacent to the beautiful and desirable Elizabeth neighborhood, which began turning about 15 years ago and is now very nice - with a quick 5 minute commute to the heart of uptown. You could not go wrong buying in there in my opinion
I checked and did find a couple under $300,000. Many in there have already been rehabbed and are selling in the $500,000 and even $600,000 range.
The other part of what I'm going to want to do is buy something for us to live in. My husband hates the idea of living in a suburban neighborhood. I know he'd prefer to live really close in. Chantilly might have some options for us too.
thanks folks, can you give me an idea of where near the city to look?
In my honest opinion, the closer you get to uptown, the better you have of keeping the unit rented. I think anywhere in the Dilworth or South end are very desirable neighborhoods. I actually have a townhouse close to Park Rd. & Gleneagles that has been a wonderful rental until for me! Unfortunately, I have to put it on the market next month, but if I could hold onto it, I would! It is a great area!
How big of an area encompasses the south end? Could I still get something in Dilworth for under 225k? I'm guessing that rents would be higher closer in to the city?
How big of an area encompasses the south end? Could I still get something in Dilworth for under 225k? I'm guessing that rents would be higher closer in to the city?
Rents are higher the closer in to uptown you are. Buying a house in Dilworth in your price range would be difficult. If you did find one it would most likely need some rennovation. Chantilly is just as close to uptown as Dilworth.
Can you tell me what other neighborhoods are just as close to uptown? Thanks!
None that you'd want to live in right now in your price range - seriously. There's NoDa, Wesley Heights and Wilmore.
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Dilworth or South Charlotte
