U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-28-2012, 07:29 PM
 
5,873 posts, read 7,714,524 times
Reputation: 3372

Advertisements

Quote:
Originally Posted by lovesMountains View Post
Depends. Worst case scenario you could get sued.
This, but probably only if there is actually specific language against it in the HOA. Chances are the builder is just trying to scare you off in the name of property values. I'm going to take a guess and say that the first builder was still in the early stages of the development and the second one was towards the end?
Reply With Quote Quick reply to this message

 
Old 10-28-2012, 08:15 PM
 
3,185 posts, read 5,766,975 times
Reputation: 1818
I know builders try all kinds of schemes to sell houses. Some even get people to agree to HOA rules before they finish a project and then will pull out leaving the unfinished homes and empty lots subject to new rules OR NONE AT ALL. I almost bought a home with strict HOA rules I wanted to protect my investment only to learn later the homes later built next door were HUD homes and we know what that means. I am glade I stopped the deal before it was too late.Buyer beware
Reply With Quote Quick reply to this message
 
Old 10-29-2012, 06:32 AM
 
Location: NC
6,032 posts, read 7,540,456 times
Reputation: 6351
Can't believe you are buying a townhouse as an investment property ugh.... This will not produce income and decline in value.
Reply With Quote Quick reply to this message
 
Old 10-29-2012, 06:35 AM
 
Location: Mars
520 posts, read 770,788 times
Reputation: 356
Quote:
Originally Posted by Suncc49 View Post
Can't believe you are buying a townhouse as an investment property ugh.... This will not produce income and decline in value.

Why? What's your experience?

Would the house prices not gain more than 4% in 10 plus years? I mean not just value of house but a $500 plus saving every month?
Reply With Quote Quick reply to this message
 
Old 10-29-2012, 06:38 AM
 
Location: NC
6,032 posts, read 7,540,456 times
Reputation: 6351
I have first-hand experience unfortunately. Anyways though, it doesn't sound like there is any swaying you or convincing, so go right ahead and learn the lesson.


Reply With Quote Quick reply to this message
 
Old 10-29-2012, 07:47 AM
 
2,089 posts, read 3,571,904 times
Reputation: 2059
Quote:
Originally Posted by Suncc49 View Post
Can't believe you are buying a townhouse as an investment property ugh.... This will not produce income and decline in value.
While I agree that not many places will bring a good ROI, it all depends on value & renting market for that location...many make decent money by renting a place, just have to know what/where to buy.
Reply With Quote Quick reply to this message
 
Old 10-29-2012, 08:02 AM
 
3,914 posts, read 3,945,730 times
Reputation: 1272
My advice is that if you can't generate immediate positive cash flow on rental property, then the deal should be avoided.
Reply With Quote Quick reply to this message
 
Old 10-29-2012, 08:38 AM
 
104 posts, read 272,315 times
Reputation: 93
I don't know how anyone can say for certain whether a property will appreciate or not in the span of 10 years. if you are new to renting properties I would spend more time understanding the in's and out's of owning an investment property. As someone 1 year into that business it isn't for the faint at heart and can be very time consuming as well. If it isn't time consuming then it will be expensive.

As far as buying a property from a builder... I wouldn't do it. Most times those properties aren't negotiable and will most certainly depreciate the day you close because NO one will pay the price you paid for that property when they could get them one for that price new.
I personally would spend my time looking at established neighborhoods that have Survived the test of time through this bumpy economy.

Anyhow good luck and do plenty of research.!
Reply With Quote Quick reply to this message
 
Old 10-29-2012, 08:48 AM
 
7,107 posts, read 9,707,399 times
Reputation: 2564
Quote:
Originally Posted by 28173 View Post
If you don't make money on it when renting, why do it???

It could be because he is not familiar with the area. Did you notice his "location" (upper right hand corner of his page?)
Reply With Quote Quick reply to this message
 
Old 10-29-2012, 08:54 AM
 
Location: State of Being
35,885 posts, read 67,052,657 times
Reputation: 22371
Quote:
Originally Posted by Suncc49 View Post
I have first-hand experience unfortunately. Anyways though, it doesn't sound like there is any swaying you or convincing, so go right ahead and learn the lesson.



^ ^ ^ ^ THIS

One of the most important things I have learned in life is to take good advice when it is offered.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 10:33 AM.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top