NC Investor
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NC Investor (by AL [NC]) Feb 13, 2018 2:39 PM
       NC Investor (by NC INVESTOR [NC]) Feb 13, 2018 3:07 PM
       NC Investor (by NC INVESTOR [NC]) Feb 13, 2018 3:20 PM
       NC Investor (by Roy [AL]) Feb 13, 2018 3:49 PM
       NC Investor (by NC INVESTOR [NC]) Feb 13, 2018 7:00 PM
       NC Investor (by Roy [AL]) Feb 13, 2018 7:46 PM
       NC Investor (by cjo'h [CT]) Feb 13, 2018 8:12 PM
       NC Investor (by NC INNVESTOR [NC]) Feb 13, 2018 8:34 PM
       NC Investor (by Roy [AL]) Feb 14, 2018 4:33 AM
       NC Investor (by S i d [MO]) Feb 14, 2018 5:10 AM
       NC Investor (by cjo'h [CT]) Feb 14, 2018 5:48 AM
       NC Investor (by pmh [TX]) Feb 14, 2018 2:25 PM
       NC Investor (by Pmh [TX]) Feb 14, 2018 2:30 PM
       NC Investor (by NC REALTORS [NC]) Feb 15, 2018 4:25 PM

NC Investor (by AL [NC]) Posted on: Feb 13, 2018 2:39 PM

I see you are a realtor. What's going on with Charlotte's growth? Where is the next hot spot? I see West Charlotte ( Freedom Dr/Toddville Road) is slowly showing an increase. Some friends report getting rents around $ 950 for homes that used to rent for $ 750? Any homes for sale that you can give us a heads up on? Thanks

NC Investor (by NC INVESTOR [NC]) Posted on: Feb 13, 2018 3:07 PM

This is one of the fastest growing cities in the country and many are Millennials. It's a feeding frenzy both for rentals and for sales.

The major thing driving both is lack of inventory. We have under 1 month inventory for sales while a normal market is 6 months.

Rentals are similar. I get over 100 responses in a day when an ad hits Zillow and the only question I get if they call is it still available. There is an absence of affordable housing but now is not the time to try to buy. Even the lower end of the market is getting priced to high.

Every area is going up. I have several in Darby Acres, Windsor Park and Belmont. They have almost tripled in 10 years and in 2008 you couldn't give them away.

Bottom line is it isn't sustainable. I think that by the time we reach next September it will slow down. If not then by next January when the next tax law for OO homes goes into effect. I'm selling about 40% of my properties this spring and when the market cools off I'll go back in and replace them.

If I see anything I'll will let you know. Let me know what to look for.


NC Investor (by NC INVESTOR [NC]) Posted on: Feb 13, 2018 3:20 PM

FREEDOM PARK: They're staring at 550 and going to 1.9m. Avg $715,000. Avg. rental $1,525.


NC Investor (by Roy [AL]) Posted on: Feb 13, 2018 3:49 PM

NC Investor,

Based on your professional advice last week, I decided to use an agent to list my rental house for sale. Check it out: MLS #: 1087082 or 1906 Adams Street listed at $45,000.

I interviewed 3 agents ,..and I chose the one that seemed the most motivated to market a house for under $50K.

I will let you know if I get any offers. Even though my house is in Mint condition and is priced right,...I have a feeling some low-ball offers will be coming in.

NC Investor (by NC INVESTOR [NC]) Posted on: Feb 13, 2018 7:00 PM

ROY: I hope it works out well for you. As for low ball offers, it doesn't matter what the house is listed for everyone receives low ball offers. And you'll probably get some tire but that's one of the benefits of having a Realtor...she will deal with it.

Keep us posted on how it's going. Good luck! --71.75.xx.xx

NC Investor (by Roy [AL]) Posted on: Feb 13, 2018 7:46 PM

NC investor,

1st low ball offer came in about 2 hours ago,...some investor made a verbal offer of $35,000. Since it was not in writing, I decided not to counter his offer. He is just 'feeling me out'.

Sorry to hijack this post. I may need to start a new one.

NC Investor (by cjo'h [CT]) Posted on: Feb 13, 2018 8:12 PM

NC,My granddaughter is one of your millennium buyers.She graduated as a nurse here and is working in the hospital in Charlotte.Likes the people there and bought a Condo,Had a big painting party over the weekend .Hope you don't have to go there,She likes to practice giving needles.So look out!.......... Charlie.....................................................................

NC Investor (by NC INNVESTOR [NC]) Posted on: Feb 13, 2018 8:34 PM

ROY: Hijack away. I agree verbal offers aren't serious offers. If they are really interested they submit a written offer. Did they call it in to your Realtor?

Charlie: Charlotte has a great medical system. Too bad they're about to rake their patients by merging with another system. They estimate rates will go up 10-15%.


NC Investor (by Roy [AL]) Posted on: Feb 14, 2018 4:33 AM

NC Investor,

All realty agents in my town have contacts with their own pool of investors and these investors are usually the first to hear about 'pocket listings'. My listing agent just called this one on the phone and gave him some quick details about the house and asked if he was interested. I think $35K came out of his mouth without much thought behind it.

I do like the fact my agent is calling me and letting me know all of the activity that is going on behind my back. I told my agent all serious offers will either be accepted or countered. Serious offers need to be in writing by my agent or a buyers agent.

NC Investor (by S i d [MO]) Posted on: Feb 14, 2018 5:10 AM

Some verbal offers are tire kickers. Others, like mine, are dead serious. When I'm looking at 20+ houses, I only make verbals, or at most scratch them down on a piece of paper. I won't waste a day reading thru all the crap documents, 90% of which are unnecessary to a transaction between a willing buyer and seller.

Most of the deals I've bought in the past 5 years were done verbally at first, then transferred onto a napkin or--at most--a single sheet of paper contact. I think an enterprising REALTOR would recognize there's a big "off MLS" market they could tap into if they could find a way around the 30-page contracts their lawyers draw up and everyone ignores except for the "click here to initial" space in DocuSign. Maybe have client signs an "okay to do verbal offers" addendum that requires any accepted verbal offer to be transferred to paper within an hour of acceptance...something like that. Tossing out ideas. --173.17.xx.xx

NC Investor (by cjo'h [CT]) Posted on: Feb 14, 2018 5:48 AM

Here in New Haven we had many doctors in their own practice,All good.Now Yale is sticking their nose in and taking them over,and also taking over complete hospitals and are at loggerheads with the insurance companies,they want go have the last word,on a big ego trip,and the average person has to pay the piper,too bad, probably similar to what you alluded to in Charlotte.....Charlie..............................................................

NC Investor (by pmh [TX]) Posted on: Feb 14, 2018 2:25 PM

my niece is now triage nurse in Houston. she used to want to practice shots on me. I have jumped out of planes ( no piggy backs) & my rugby team members elected me president of university ball room dancing society (that was scary) but a needle makes me keel over. so always no. vampires who take my blood each year for physical tell me I am not the only one but I think they say that so I donít cause trouble.

NC Investor (by Pmh [TX]) Posted on: Feb 14, 2018 2:30 PM

most of my purchases were via pocket listings (I think that is what they are called) realtors call me and I say yea or neah. I always look at future cash flow so donít quibble too much on price if pencils out cash on cash.

NC Investor (by NC REALTORS [NC]) Posted on: Feb 15, 2018 4:25 PM

The true definition of a pocket listing is where the broker holds a signed listing agreement either exclusive right to sell or exclusive agency BUT it is never advertised.

It's a great vehicle for investors but it's also used on very high end OO where the broker has a large rolodex of private clients.

SID: I understand your objection to 30 page contracts (ours are only 11 pages assuming no addenda) but for a licensed broker the liability exposure for doing a contract on the back of a envelope is huge especially if one party is not represented which means it's dual agency. --71.75.xx.xx

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