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 12-23-2012, 09:55 PM
 
Location: Charlotte
512 posts, read 912,838 times
Reputation: 142

Advertisements

Thanks to all those who took time to respond.

Investing in cheap/high crime area seems to be beyond my comprehension; the risk seems to be pretty high in that scenario.
Reply With Quote Quick reply to this message

 
Old 12-23-2012, 09:56 PM
 
Location: Charlotte
512 posts, read 912,838 times
Reputation: 142
Quote:
Originally Posted by southbound_295 View Post
If I had the money to invest, I'd do it right here in Kings Mountaoin, either in the city limits or just outside of it.If things proceed as they have been going, this is the next big thing. However, that remains to be seen, with the entire state government about to go into Republican hands.

You would have to invest time & effort to make the right purchase. I know what I would do, if I hit the lottery, but that's just what I would do.
Why Kings Mountains?
Reply With Quote Quick reply to this message
 
Old 12-23-2012, 10:56 PM
 
467 posts, read 1,287,464 times
Reputation: 330
Kings Mountain? Seriously? For anyone thinking about investing in real estate outside of a major metropolitan area, consider this your warning. Every year I see many people make "investments" in these small town economies that lack job growth, the driving force in real estate growth. There's virtually no demand anywhere in the area with the exception of Meck, Union, and Cabarrus counties. No offense to those that live in these towns, I'm sure they are nice places to LIVE.
Reply With Quote Quick reply to this message
 
Old 12-24-2012, 12:15 AM
 
Location: The place where the road & the sky collide
21,898 posts, read 27,173,603 times
Reputation: 8966
Quote:
Originally Posted by feng21 View Post
Why Kings Mountains?
Location & the trajectory of the job situation. It's immediately west of Gastonia & 85 & 74 both go through the city. There are numerous empty mills that are being bought up & converted. One German company in the energy industry has taken over one mill & is eyeing another. There are data centers that have opened & are being built. Bev has been extremely helpful. I'm leery of McCrory.

The mills are out of your price range. Companies have been coming in steadily. This would be something that would entail a lot of work on your part & patience to see which way the wind is blowing in Raleigh.

An empty lot on King Street/Business 74 was purchased & an urgent care is going up on it. Because of the change in the annexation law, businesses wanting city services have to buy in the city or petition for annexation.

You'd have to get a realtor who's familiar with this area & study it thoroughly, but there's definitely investment money to be made here.
Reply With Quote Quick reply to this message
 
Old 12-24-2012, 12:44 AM
 
Location: The place where the road & the sky collide
21,898 posts, read 27,173,603 times
Reputation: 8966
Quote:
Originally Posted by Trademarked View Post
Kings Mountain? Seriously? For anyone thinking about investing in real estate outside of a major metropolitan area, consider this your warning. Every year I see many people make "investments" in these small town economies that lack job growth, the driving force in real estate growth. There's virtually no demand anywhere in the area with the exception of Meck, Union, and Cabarrus counties. No offense to those that live in these towns, I'm sure they are nice places to LIVE.
Yeah, seriously. I did not tell the OP to jump in with both feet, but there are companies coming in on a steady basis. There are also companies expanding. This is no more risky than to invest in Charlotte as long as the OP is working with a realtor who is knowledgeable.
Reply With Quote Quick reply to this message
 
Old 12-24-2012, 07:58 AM
 
3,774 posts, read 6,995,987 times
Reputation: 4402
Quote:
Originally Posted by feng21 View Post
Investing in cheap/high crime area seems to be beyond my comprehension; the risk seems to be pretty high in that scenario.
Then pony up more than a $150K.

Sounds like maybe you should just scoop up some bonds or CDs, real estate may not be your cup of tea.

If you want to make real money in Charlotte SFH real estate you have to buy a $390k tear down and rebuild.
Reply With Quote Quick reply to this message
 
Old 12-24-2012, 09:13 AM
 
5,874 posts, read 7,714,524 times
Reputation: 3372
accidentally posted this in a different thread:

What are you going to do with the land you invest in? Just hang onto it and hope the value increases?

What about the condo/house? Rent it out? That seems like a more plausible scenario. If that's the case, I'd buy the best house you can get in a good school district, although $150K may not get you a whole lot. The rental market is very strong and it seems like there are not many rentals in some of these areas.
Reply With Quote Quick reply to this message
 
Old 12-24-2012, 09:28 AM
 
Location: Inactive Account
1,508 posts, read 2,472,848 times
Reputation: 965
Quote:
Originally Posted by Trademarked View Post
Every year I see many people make "investments" in these small town economies that lack job growth, the driving force in real estate growth. There's virtually no demand anywhere in the area with the exception of Meck, Union, and Cabarrus counties.
I know someone that bought a large tract in western Gaston county, encouraged the nearby town to annex it and zone it residential ... then got caught by the bust. At least stopped short of putting the streets and infrastructure in ... just renting the old farm house to some people and figuring someday it can be unloaded break even.
Reply With Quote Quick reply to this message
 
Old 12-24-2012, 10:36 AM
 
Location: The place where the road & the sky collide
21,898 posts, read 27,173,603 times
Reputation: 8966
Quote:
Originally Posted by Sean_CLT View Post
I know someone that bought a large tract in western Gaston county, encouraged the nearby town to annex it and zone it residential ... then got caught by the bust. At least stopped short of putting the streets and infrastructure in ... just renting the old farm house to some people and figuring someday it can be unloaded break even.
I wouldn't advise that. It's too risky because of schools & job situations. Jobs are currently coming into the 74/85 corridors. Gastonia & Kings Mountain are doing the best. I know of places that would be a good bet in both cities, but you can't sit on your duff & throw a dart at a map.

It also depends on what happens in Raleigh. I suggested Kings Mountain because Wayne King is from Kings Mountain & he's #2 in the NC Republican party. I think that there's going tp be a lot of pain spread around. Certain places will get less than others.
Reply With Quote Quick reply to this message
 
Old 12-26-2012, 08:51 AM
 
Location: Durham UK
2,031 posts, read 4,691,274 times
Reputation: 1132
Quote:
Originally Posted by urbancharlotte View Post
I would invest in cheap/higher crime areas of North Charlotte that are about to get light rail service. This is something that I wished I had done with the South End.
yes, and no one has mentioned rental return, just as important as capital appreciation although maybe OP is looking to "flip" but not sure it's a good time to be trying to do this.
In DT Mooresvile you can buy a 2 bed mill house for around 70k or less if needs work and rent for $650-750 per month.
Additionally the Mill village now has historic status which allows tax incentives for work done on homes. There were a lot of homes for sale until end of Summer time and now fewer.
There will be similar homes in the less desirable areas for homeowners, but very desirable for renters eg Troutman, Statesville, Kannapolis etc etc and even Mooresville 28117 -older smaller homes around the lake where there may be more potential for appreciation. Also Sherrils Ford and Denver.
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
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 06:51 PM.

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