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I think the OP was not limiting the investment to real estate, but I could be wrong. The bakery idea, while it sounds good, is probably not a great investment vehicle. Small bakeries tend to break even if they are lucky! People these days don't want to make an extra trip. Instead we go to the local Harris Teeter for one stop shopping. With that being said, I'd get a loan with my $200k as collateral and try for a Chick fil A in western Union County.
Just fantisizing here for a moment. If you had an extra $100,000 or $200,000 and decided that you wanted to place that bet on Charlotte N.C. where/how would you invest the money? Would love to hear the opinions of people that have some knowledge on the subject BUT not self-serving opinions. Form your opinions around today and now-current market conditions, etc.
If I read you right you are asking where in Charlotte we would spend up to $200,000 on a home as a good investment (meaning continual, steady appreciation - a neighborhood you would never lose money on?)
$200,000 will not get you into too many of the best of the best places I'm afraid. However, you could spend that $200,000 in a couple of places in south Charlotte that are in the vicinity of many other much more expensive neighborhoods - a great position to put yourself in. And I would go with south Charlotte over any other area personally.
no brainer here. 195k condo in a good neighborhood sellin for 85k.
repos r us.
And do you know of such a place in Charlotte? I can't think of a single good area that has a condo this deeply discounted, but maybe you know of one?
If the op did want to go condo the key would be to buy one as close to uptown as possible in a stable, established area like the Elizabeth, Cotswold or even maybe South Park areas.
Just fantisizing here for a moment. If you had an extra $100,000 or $200,000 and decided that you wanted to place that bet on Charlotte N.C. where/how would you invest the money? Would love to hear the opinions of people that have some knowledge on the subject BUT not self-serving opinions. Form your opinions around today and now-current market conditions, etc.
I would definately look into SW Cabarrus county, near the Concord Mills Mall. They are selling apts in a Resort in the preconstruction stage. On the low end prices are 300,000 (10% dn...bal on closing in 2 years) and they go upwards to 1.5 million. Great place for investment now. Also uptown is still an option in a preconstruction high rise. The Donald is coming and I always say follow the money...I have done great there the past 3 years, andnow is the time for RE investment. In the long run it will out perform any other investment (unless you get lucky and get a stock like MS, Yahoo, in the early stages...
I would definately look into SW Cabarrus county, near the Concord Mills Mall. They are selling apts in a Resort in the preconstruction stage. On the low end prices are 300,000 (10% dn...bal on closing in 2 years) and they go upwards to 1.5 million. Great place for investment now. Also uptown is still an option in a preconstruction high rise. The Donald is coming and I always say follow the money...I have done great there the past 3 years, andnow is the time for RE investment. In the long run it will out perform any other investment (unless you get lucky and get a stock like MS, Yahoo, in the early stages...
When you say "I have done great there the past 3 years"...do you mean as a real estate agent earning commissions or personal investments? If from personal investments what type of investing did you do and have you cashed out and taken more than a paper gain?
"..and now is the time for RE investment"--why?
"Donald is coming.." But doesn't he have more than "a couple extra $100,000
bills"?
I would DEFINITELY buy...if it was for investment purposes I'd keep my home here in Union County but purchase a condo uptown.
Why? Remember right now we are only using play money on this forum board so it's easy to make a quick investment decision.Could the downside of your suggestion be:
1) Condo=You are not in control of your investment ie: assessments,condo board dosen't think like you.Managing renters not easy. New construction competing with your aging property.
2) Price point-what makes you think the "price is right" is this very unstable market? Kinda need a crystal ball don't we?
3) Liquidity of condos? I don't have a clue. Worse than other types of RE liquidity? Don't know.
Somehow, I don't have a warm fuzzy feeling with this idea,but hey, it's only play money!
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OP's correction
