If you’re looking into Charlotte, NC investment properties, it’s high time you start researching every aspect of Queen City.
To make a sound property investment, you’ll need to ask some smart questions on Charlotte, NC real estate, economy, and development trends. Some of the essential questions include:
- How is Charlotte, NC economy doing?
- What's the job market like in Charlotte, NC?
- What are the current and future development projects in Charlotte, NC?
- How is the renter’s market in Charlotte, NC?
- What are the hottest Charlotte neighborhoods for investors in 2021?
With an extensive background and market research, it’s possible to answer these important questions on purchasing commercial property in Charlotte, North Carolina.
Top 25 Questions to Ask Before Investing in Charlotte NC Homes for Sale
Begin by assessing your budget, team, and timeline.
1. Why do I want to buy Charlotte NC Investment Properties?
The question is simple, but it will help make your search for property easier and faster. What is the purpose of the land –– building homes, developing commercial property, reselling for profit?
Whatever your reason, your answer will determine the best location.
2. How much can I invest?
Before looking at properties, it’s essential to clarify how much of your portfolio you can invest in Charlotte real estate. This will help determine your investment strategy, plan, and timeline.
3. How am I allowed to use the land?
Clarify the zoning laws and land restrictions in the area you want to invest in, like approval and permitting take 90 to 180 days.
4. Where am I planning to invest?
To help you narrow down your location, you should start by identifying your target markets. Look into real estate and demographic trends and compare the quality of life in urban and suburban areas.
5. Who am I investing with?
After laying down your strategy and target markets, set up the team you plan to work with. As investments involve different aspects of a business, it’s unlikely that one person can execute your strategies efficiently.
6. What does the investment look like?
Due diligence requires extensive research.
To get you started, consider these factors in individual deals: location, employment rate, property age, residents, amenities, taxes, and environmental reports.
7. Why is this commercial property being sold?
As an investor, try to get behind the reasons why the property is being sold. As you’ll know, there can be reasons that will make the property unappealing. There may be legal and financial liabilities that could be transferred to the next owner.
8. What should I know about the current tenants?
Depending on the commercial property, there will most likely be at least one tenant occupying the vicinity. Get some background information on the tenants and their lease terms, credits, and payment histories to figure out any associated risks.
9. Do I need a pro forma?
A pro forma is essential to see the property’s net operating income (NOI), which will help you calculate return on investment (ROI).
10. What are the current and future development projects?
Your priority as an investor is to see profits. Look into the land’s profitability based on the area’s development pipeline.
11. Does the location provide low taxes and insurance?
Look into the expenses you should expect after the purchase. Your investments should see positive returns and not become a hindrance to your bank account.
Now that you’ve asked the primary real estate investment questions, It’s time to start learning the nitty-gritty of Charlotte real estate.
12. Is Charlotte, NC a good place to invest in real estate?
Before we go into detail, let’s be clear about one fact:
Charlotte, NC real estate is one of the best options you have as a real estate investor.
The Charlotte real estate market has a growth of 20% in sales and home prices, the best in Southeastern US. Charlotte’s exceptional red-hot real estate market doesn’t show any signs of cooling down in the next few years.
13. What is Charlotte, NC’s quality of life?
According to SmartAsset, Charlotte is among the top 10 preferred cities for millennials. Charlotte’s quality of life is perfect for the trendy “urban-suburban lifestyle” that provides excellent social, work, and recreation opportunities.
14. Should I invest in Charlotte real estate now?
With the Charlotte economy booming, employment rates rising, and a stellar rental market, greater demand for rental properties is expected to soar.
Now is the perfect time to invest in Charlotte while rent prices are high and demand is high.
15. How is the Charlotte, NC economy doing?
Charlotte is home to diverse industries that promise continued economic growth:
- 200+ Fortune 500 companies
- 15+ Fortune 1000 companies headquarters
GSP level (2021) is expected to increase steadily in all states of North Carolina.
16. What are some of the largest corporations in Charlotte?
Some of the nation’s biggest corporations have their headquarters in Charlotte, NC:
- Coca-Cola Bottling Company
- Bank of America
- Duke Energy
17. What is the job market like in Charlotte?
Charlotte ranks 7th as the best city for businesses, careers, and jobs.
Charlotte is home to a diverse workforce of 7,500 members serving in:
- Professional services
- Office and administrative support
- Public safety
18. What is the projected job growth in Charlotte, NC?
Over the next ten years, Charlotte is expected to have job growth of 45.2%, good news for real estate investors.
19. How is the real estate market in Charlotte NC?
In 2021, Charlotte’s median house prices reached $340,000+ in June.
- Studio apartment: $1,470/monthly
- One-bedroom apartment: $1,350/monthly
- Two-bedroom apartment: $1,670/monthly
20. What are the types of houses in Charlotte?
Ranked as one of the best cities for employment opportunities, Charlotte attracts single-family households:
- Single-family houses: 56%
- Apartments: 30%
- Townhomes: 7%
22. How many Charlotte households are renter-occupied?
With the influx of millennials looking for single-family homes, renter-occupied households are steadily increasing:
- 41% renter-occupied
- 58% owner-occupied
22. How is the Charlotte condo market doing?
The current market shows rising demand for Charlotte, NC condos for sale, but inventory is limited, and construction can’t keep up with demand.
For investors entering the Charlotte condo market, this is exciting news.
23. What are the hottest Charlotte neighborhoods for investors?
Here are neighborhoods that are continuously attracting large corporations and are expected to grow significantly:
- Myers Park
- Lake Park
- Reid Park
24. Where to invest in Uptown Charlotte, NC?
From the current market trends, the best rental investments in Uptown Charlotte, NC are:
- East Charlotte NC: Along newly constructed Highway 485
- West Charlotte NC: Beatties For Road, Rozzelles Ferry Road
- North Charlotte NC: Around Interstate 85 and Highway 77
- South Charlotte NC: near Charlotte Douglas International Airport
25. Should I hire a property management company in Charlotte, NC?
Like Nancy Braun of Showcase Realty, a reputable property manager will ensure that you get the most out of your investment.
Showcase Realty will ensure that your property complies with all state, local, and federal regulations and laws. With a passionate team of real estate experts, Showcase Realty will assist you in handling day-to-day operations to help free up your time and make a profit. Contact Nancy Braun today at 704-997-3794!