Charlotte Investment Property Guide

There are some areas that are booming in terms of real estate deals and potential. One of these happens to be Charlotte in North Carolina. Given the buzz in the property market about the city, we would like to present some info on the hottest areas in town, from the perspective of both commercial as well as residential areas:

Uptown 

This locality is very appropriately named as it represents one of the more upscale and quite posh areas of Charlotte investment property with quite a few splendid properties that you can choose from. Uptown is quite the hub of commercial and government activity, with its many skyscrapers and with many of the municipal and government offices being located here. It is also an excellent nightspot with some of the choicest restaurants, bars and other avenues of quality nightlife being present here. The area is booming in terms of constructions as it hums with so much culture centric, retail shopping themed and residential construction activity. Uptown is also distinguished by the fact that it contains many of the banking and service corporations of the city. 

SouthPark 

SouthPark is an area that started growing way back in the 1960s and saw the construction boom till the 1980s. It is conveniently located just about ten minutes away from Center City. The vintage of the buildings here is reflected by the traditional style constructions and exteriors that are visible in SouthPark. It is located south of the up-market Uptown and extends right to Union and York counties. There are a number of shopping centers and also education avenues that are getting constructed here currently. SouthPark also boasts of some of the best ranch style homes of Charlotte investment property, which hark back eloquently to a bygone age. 

Madison Park 

Madison Park has a history dating back to the 19^th century and offers some lessons in racial harmony. Back then, whites and blacks used to stay in the same block, something which changed in the 20^th century owing to racial segregation. In recent times however, the racial segregation has been on the wane making it a popular choice for Charlotte investment property. 

Madison Park is another locality that holds a great deal of promise in terms of residential property. It has quite a few multi as well as single family residences that it can rightfully be proud of. Property and real estate dealers can scarcely hide their excitement about Madison Park on account of the many attractive property options that it readily offers. There are so many condos, apartments, patio homes and also town homes that you can choose from. It is no wonder that so many college students and also young professionals are flocking to Madison Park looking out for reasonably priced yet livable accommodation. 

Dilworth

Dilworth is well known for East Boulevard, which is easily its principal attraction. The area is located south of Uptown and has wonderful boutiques and some of the best restaurants in town. There is no wonder that it is a shopper’s paradise. Dilworth seamlessly blends the old with the new as it brings to the forefront smart, functional new style homes that lie just adjacent to charming old buildings.

If you are looking to buy a house or some other kind of Charlotte investment property, it is quite possible that you would be looking out for financing for the same too. After all, hardly anyone ever makes a full down payment on a house or a villa as it makes much more economic sense to take a loan or a mortgage. Some of the more traditional means of financing real estate include taking a loan from a bank or a financial institution. But times are changing and there are many people who are looking out for creative ways to finance their Charlotte investment property. 

The US government has taken some steps to ensure that the economy gets back on the track. Some of the measures that have been taken involve extending special loans to individuals at rates that are better than what is available in the market. These steps are what can be capitalized on by enterprising individuals who can take advantage of these steps taken by the government.

Creative financing is also possible by taking advantage of rent-to-own opportunities. In these kinds of deals, one is able to take a property on rent and pay higher rates with the understanding that the ownership of the property will be transferred in the name of the person after some definite period of time. It is quite imperative to look at various terms and conditions that govern such deals in order to avoid hassles with Charlotte investment property. 

There are so many creative financing options that you should look out for when investigating Charlotte investment property. Getting funds from a hard money lender is an option for those who have been denied funds from other sources. These money lenders get funds from individual investors and institutions too, in return for interest. 

Another form of creative financing is fixer upper properties, which involves properties that have certain defects or flaws. These properties are available at prices much lower than the going market rate due to these defects. The wise Charlotte property investor can pick up these properties cheap, get them renovated and then sell them off at a profit.

With the current recession and plummet in property values, many investments are looking better in a variety of cities in the US.  One thing to take note of is Charlotte investment property.  Better opportunities to invest are often found outside one’s local community, so looking to large metropolitan areas is often worthwhile to potential investors.  Should an investor purchase such a property located a few states, or even a country away, local management is something worth looking into as it can save you time and headaches for a nominal fee.

Carolinas Metro Realty

Quick and decisive action to tenants’ needs are greatly appreciated, and make for happier renters.  The bonus to the investor is that for fees associated with the management of a property, any headaches that occur with a Charlotte investment property are not directly the investor’s.  The main issue owners want answered is, “How much will management cost?”  The largest cost that will accrue over time is the monthly fee.  Carolinas Metro Realty charges  9% of monthly rent or a minimum of $100.  This fee can also be negotiated to a lower amount if multiple properties are being managed by the company.  To cover any damages or repairs a reserve of $300 is suggested, but the company can tailor this to your needs, age of properties, etc.  A security deposit equal to one month’s rent is held in escrow by the company.  (What’s nice about this company is they clearly stated that the security deposit is held until the tenant moves out, an inspection is done, and damages are paid for, if any.)

Out of town investors with Charlotte investment property might wish for Carolinas Metro Realty to find a potential tenant.  This service can be done for a fee of half the first month’s rent.  They also do full credit, criminal and eviction checks on all persons over the age of 18 that will be living in the home.  Should emergencies occur, and a tenant or owner need to contact the company processes are in place.  The company does have a 24 hour number that is monitored by the owner and manager, the message is then relayed to their phones and email addresses after business hours.  Also maintenance persons are on staff to handle most issues, but a dedicated list of contractors can respond to issues outside of the norm.

Carolinas Metro Realty specializes in both residential and commercial Charlotte investment property, and suggests on the residential front that renters prefer single family homes versus a townhouse or condo.  For more information contact Treva McCain at treva@carolinasmetro.com, or to contact the company please see their information below.

Carolinas Metro Realty
17232 Lancaster Hwy, Suite 108
Charlotte, NC 28277
Phone: 704-219-6322
Fax: 866-924-7352