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Charlotte Property Management Blog

Charlotte, Destination Home: Part 2


Sherkica Miller-McIntyre - Thursday, March 17, 2016

We, here at Carod Properties, have said it before and it bears repeating, having the funding is by no means the first step or even most important step in venturing into real estate investing. One of the very first steps should be knowing the viability of the market in which you plan to buy. Or, if you are not knowledgeable of such things, know enough to seek the services of those that are. We recently advised you of how the Charlotte real-estate market is booming. That’s not just our opinion. Many and varied experts in the field include Charlotte, NC as a Top 10 promising area to invest for 2016.

We’ve told you where you need to invest, so now it’s time to remind you of some things to keep in mind to set yourself up for success. First, remember that real-estate investing is a business. It’s not just buying a home and renting it out. And, every good business starts with a great business plan. A well-thought plan will include everything from funding to exit strategies. It will help you not only set the goal for a successful venture but set you on a path to make it happen, each step of the way. Other aspects to remember, include:

  • Funding: Check your credit, find a lender and most importantly actually secure funding before contacting your realtor. Make sure you’re funding is in order, with options that will allow you to make the purchase, repair/improve where needed, market and establish/maintain a contingency fund.
  • Realtor: Don’t just find a realtor to show you properties, listen to their advice. They not only know where to look, they can direct you to the properties that will help you realize your vision and goals for this venture.
  • Education: Spend time reading about real-estate investing. Not much beats an informed consumer. Your realtor helps you with the process of buying, and will give you advice and the benefit of their knowledge along the way. However, once the purchase is made, unless you hire them to manage your property, their job is done. There is a wealth of knowledge out there. Seek it and use to the benefit of your investment.
  • Learn from the best: To achieve success, model your investing decisions after what other successful real estate investors in your area have done. Search Google for real estate clubs in your city or start your own. Regardless, don’t try to reinvent the wheel. (*Many realtors are also investors, themselves. Forging and on-going relationship with the right realtor can be key in your investment for many, many reasons!)

Although, there are list upon lists that advise you on successful real-estate investing no one list is going to provide you everything you need to know. There’s great information to be had, but the secret is knowing what information is reliable and applicable to you. It is certain that there are those that have found success on a wing and a prayer, but for others it isn’t that easy. When you are counting on the success of your venture, for the financial security of you and your family, it is incumbent of you to make the best possible decisions. Real-estate investing is one of the number one ways Americans make their wealth. Be in the in-crowd, and do it in Charlotte. We’ll be waiting for your call!

We’ve told you where. In this article we’ve reminded you why, and in our next submission, we’ll elaborate on why, Charlotte.