Invest in Charlotte Real Estate-Lake Norman| Better Than a Bank?
October 3rd, 2008 Categories: Real Estate Investment
One Senior Decides to Invest More In Charlotte, and Buys With CASH
Charlotte NC| She had taken her money out of The Market, but was concerned about the family’s money sitting in a bank account, insured only to $100,000. To this investor, it was absolutely smarter to invest in Charlotte at Lake Norman.
I got an email from a client late last week that there were some condos at Lake Norman she wanted to take a look at. A multi -purchase client, I didn’t know exactly what it was about, but she has bought multiple residences with me and together with her family bought investment property as an investor. She has been trying to persuade her Mom to get a place here in Charlotte, helping her transition from her family home in New York State.
So off we went to Harborside, a moderately priced townhome and condominium project on Lake Norman,halfway between
Birkdale at Exit 25 and Exit 28 on I-77. We looked at 3 condos, from $319K to 365K, one at the Villages, and two at the 3 story Mid-rise at the end of Channel- and next to Mid-Town Sundries in Lake Norman… now do you know where I am talking about?
Somewhat surprisingly, the least expensive of the three turned out to be the best- best condition (perfect), great water view, easy access to the boardwalk, and walking distance to her daughters townhouse. We made an aggressive offer that included the furnishings, with a one week close and paying cash, the Sellers counterred on some of the furniture, and we accepted.
Speaking to my client, the daughter and a senior herself, she said it was simple really- a waterfront condo on Lake Norman, bought at a great price, was a much better investment than ANYWHERE else today.
I couldn’t agree more. What about you?
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It is a strong buyers market here in the greater Charlotte area, Lake Wylie, Lake Norman, the whole area for new homes and re-sales.
Moving to Charlotte?
Have Questions? I am a Charlotte broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below. Another good place to start is my fact-filled and well received Introduction to Charlotte Video (nearly 8000 You Tube views, 22 reviews) and don’t miss the FAQ videos in the right column (just under the Introduction to Charlotte Video Screen)
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
Related Links
Charlotte Photo Gallery- more than 2500 pictures, 45 galleries of different Charlotte neighborhoods
Where to Look for Luxury Homes in Charlotte- Video
Amazing Ryland Homes At The Palisades for Under $400k
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Charlotte Homes For Sale     About Charlotte NC    Charlotte Luxury Homes For SaleÂ
Charlotte Buyer Agents work only for you. 704-351-1519
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Invest in Charlotte Real Estate| Wholesale Investor Pricing on NEW Homes, Better than Foreclosures?
September 23rd, 2008 Categories: Real Estate Investment, Real Estate News
Real Estate Investors and investment clubs- This is Better than Foreclosures!
Charlotte NC|Â A unique opportunity to buy New Homes in Charlotte, built by major builders, at BELOW their Replacement cost… 10-20% Off their Original List…Sold rent ready, great returns for you, and for them it is all about getting the inventory off their balance sheets by year end.
The Charlotte Real Estate Market
Charlotte was ranked as the 2nd in a top ten list of city’s most likely to appreciate in the next 2 years according to Forbes.com. Standard and Poor’s Case-Shiller report has ranked Charlotte real estate as one of the top 3 major markets in the nation for 6 quarters, leading the nation in appreciation in 2007. (one of only 3 in positive territory) Once again of the 20 major markets, Charlotte led the nation in August 2008.
The Houses
All houses/townhouses are new and come with a one year (bumper to bumper) warranty, ready to rent including blinds washer and
dryers, and we have rental operations in place (for those who need it) to offer a turn-key service.
Here are the 3 key advantages as I see them- you may see more:
1) We have minimized your risk of potential price declines in the short term because we have negotiated prices at or below the Estimated Builder Replacement Cost at today’s cost of construction.
2) The New homes will offer significant positive monthly cash flow, with reasonable financing, see the table below.
3) With an acquisition cost under Replacement, and 10-20% off list, your investment is likely to yield more than 50% over the next few years, and you can easily figure double digit Cash on Cash returns from year one.
These are extraordinary returns, in what’s quite probably the safest market in the US. Charlotte’s historic appreciation rate of 3.5% per year (over 4% last year according to Case-Shiller) makes even larger returns possible…
Buy one or buy 10, investment clubs and bulk buyers welcome. Do the math, and I think you’ll agree that these are safer and better than foreclosures–and maybe an excellent parking space for your capital while Wall Street figures itself out too!
Here is a sample of whats available. Sign up for the email below for a full list, including builder and community, and our FAQ guide.
figures based on 20% DP, 6.25% interest only financing, TMRE/W&A prices 10-20% off retail
| TM/W&A | PRICE/ | Mo | |||||||||
| LOT | PRICE | SQ FT | SQ FT | Br | Ba | GAR | Hoa | Ins | TAX | RENT | +Cash |
| 71 | 188,230 | 2689 | $70.00 | 4 | 2.5 | 2 car | 21 | 40 | 188 | 1500 | 467 |
| 53 | 198,950 | 2842 | $70.00 | 5 | 2.5 | 2 car | 21 | 40 | 199 | 1600 | 411 |
| 144 | 126,279 | 1559 | $81.00 | 3 | 3 | 1 car | 22 | 40 | 126 | 1100 | 386 |
| 159 | 128,500 | 1583 | $81.00 | 3 | 2.5 | 1 car | 22 | 40 | 128 | 1100 | 384 |
| 251 | 139,515 | 1773 | $79.00 | 3 | 2.5 | 1 car | 22 | 40 | 139 | 1200 | 418 |
| 95 | 194,490 | 2777 | $70.00 | 4 | 2.5 | 2 car | 15 | 40 | 194 | 1400 | 341 |
| 97 | 185,425 | 2823 | $66.00 | 4 | 2.5 | 2 car | 15 | 40 | 185 | 1400 | 387 |
| LOT | DRHorton | ||||||||||
| 29* | 106,000 | 1227 | $86.39 | 2 | 2.5 | N | 20 | 30 | 91 | 900 | 317 |
| 30 | 84,000 | 987 | $85.11 | 2 | 2.5 | N | 20 | 30 | 72 | 750 | 278 |
| 130* | 104,000 | 1481 | $70.22 | 3 | 2.5 | N | 20 | 30 | 89 | 1000 | 427 |
| 135* | 106,000 | 1227 | $86.39 | 3 | 2.5 | N | 20 | 30 | 91 | 1000 | 417 |
| 136* | 104,000 | 1481 | $70.22 | 3 | 2.5 | N | 20 | 30 | 91 | 1000 | 426 |
| 141* | 106,000 | 1227 | $86.39 | 3 | 2.5 | N | 20 | 30 | 81 | 1000 | 427 |
| * End | |||||||||||
We also have options available in Atlanta and the Raleigh -Durham area of North Carolina, all strong real estate markets.
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We represent only you the investor on the Buy side of these transactions. I’ve been writing about Charlotte for the last 18 months, you can see the samples below, but the best Introduction to Charlotte, and to me, is the fact-filled and well received Introduction to Charlotte Video below- #1 on the You Tube Search for Charlotte NC with over 8000 views since last November. Please don’t hesitate to call me direct at 704-351-1519.
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