Posted by: Roby Robertson | March 2, 2010

4 Steps For Investing In Charlotte And Lake Norman Real Estate

Real estate investing is always good and sometimes it’s red-hot. Right now those of us that work in the business will tell you that it is Red Hot.

Our Property management Company is inundated with people looking for homes to rent and home sellers now deciding to rent their homes.  Add to this the real estate investor we assist and all indications are that real estate investing is definitely hot.  The one caveat is this.  Real Estate investing for flipping is not nearly as popular as investing for rental income. Why, the lending environment is not conducive and the completion is fierce so pricing is very tricky!

Think about it.  If you have read other posts on this blog you know that there are tons of Lake Norman Foreclosures, Charlotte Foreclosures and Short sales all around.

So here are some steps to help you. 

1.  Determine your price range and line up your financing before ever going out to look.

2.  You can go to the courthouse and bid on foreclosed properties.  This takes a lot of work and has a lot of risk.  However, you can get some steals this way.

3.  Homes that don’t get sold through short sales or via the courthouse are assigned to realtors to and advertised as bank owned.  Hire a Realtor and let him assist you with finding the home that meets this criteria. (A.  fits in your price range, B. is a good property from a rental standpoint, C. does not need too many repairs, D. has good future resale possibilities ).

4.  Run numbers and be sure you have 3-4 months of reserves to pay expenses until the home is rented.

 We are well equipped to help you with all your needs from finding a home, getting it rented and managing all aspects of your investment.


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