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 02-14-2010, 09:09 AM
 
Location: Inactive Account
1,508 posts, read 2,469,341 times
Reputation: 965

Advertisements

Rentals don't need to be in "good areas" when the tenants are mainly interested in being near their jobs, or don't have children. Usually small 3 bedroom homes (or sometimes 2 bedrooms) make good choices to rent out. People that can afford a large house to rent are either not far away from being able top buy their own place, or will have so many kids and animals they'll tear up your property.

I've got two rentals, both occupied by middle aged women without cars, that like being near the bus lines and shopping centers on a major street. They'll probably each stay there for another decade, which is great for me - one of the biggest risks you take in renting property, is meeting strangers and taking a gamble on them.

One of them owns a mix-breed pit bull that is very docile. But most landlords will not rent to anyone that owns a pit. That's another aspect to landlording, being willing to niche market a bit. People will stick with you, if they know it's a real hassle to find another place.
Reply With Quote Quick reply to this message

 
Old 02-20-2010, 07:47 PM
 
25 posts, read 134,653 times
Reputation: 23
Thank you Sean! Do you mind telling us the neighborhoods your two rentals are located? I am asking because I am also looking for the 'ok' neighborhoods that are close to "the bus lines and shopping centers on a major street".. You can please PM me if you like..

Thank you!

Quote:
Originally Posted by Sean_CLT View Post
Rentals don't need to be in "good areas" when the tenants are mainly interested in being near their jobs, or don't have children. Usually small 3 bedroom homes (or sometimes 2 bedrooms) make good choices to rent out. People that can afford a large house to rent are either not far away from being able top buy their own place, or will have so many kids and animals they'll tear up your property.

I've got two rentals, both occupied by middle aged women without cars, that like being near the bus lines and shopping centers on a major street. They'll probably each stay there for another decade, which is great for me - one of the biggest risks you take in renting property, is meeting strangers and taking a gamble on them.

One of them owns a mix-breed pit bull that is very docile. But most landlords will not rent to anyone that owns a pit. That's another aspect to landlording, being willing to niche market a bit. People will stick with you, if they know it's a real hassle to find another place.

Last edited by keyu; 02-20-2010 at 07:55 PM..
Reply With Quote Quick reply to this message
 
Old 02-21-2010, 01:39 AM
 
95 posts, read 214,473 times
Reputation: 51
I would check out meetup.com in your area they have several investment groups and several are hands on.
Reply With Quote Quick reply to this message
 
Old 02-22-2010, 05:38 PM
 
467 posts, read 1,285,883 times
Reputation: 330
Join the metrolina real estate investors association if you are truly serious about investing.
Reply With Quote Quick reply to this message
 
Old 02-23-2010, 11:12 PM
 
95 posts, read 214,473 times
Reputation: 51
Keyu,
There are some great positive cash flow places around. check out meet.com for investment groups and the Metrolina or Charlotte REIA , most investors right now are buying up a ton of properties for rent. The challenges currently are bank rules for investors regarding downpayment and the number of properties that you can have mortgaged. A lot of people are even getting into high-end rentals for the number of people locating here from other cities that can't sell thier homes. Good hunting!!
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
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 03:28 AM.

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

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