Charlotte Area Real Estate Investor Suggestion List for July 24, 2013

Here is my latest Charlotte area real estate investor suggestion list. As usual, some properties have a great deal of initial equity, some properties should generate a decent yield from rental income, and some properties should accomplish both. Some properties are essentially turnkey for certain investor strategies. Others require substantial renovation, but can be flipped for a decent profit. A brief summary follows: #1 - MLS 2165428 - 3/2 in that Charlotte/Mint Hill border area (28227); the listing states it has already been substantially renovated, but it is an REO. Listing price is $86,900; tax value is $93,100. #2 - 2165384 - 3/2.5 in North Charlotte (McIntyre) built in 2005; should generate a decent yield on rental income; this Fannie Mae REO is available to investors 7/23, priced at $119,000. #3 - 2165983 - 3/2.5 Ardrey Park townhouse in Ballantyne area, this REO is priced at $132,500 with a tax value of $149,800 and HOA dues of $170/month. I know some of you focus on that South Charlotte/Ballantyne area for low risk investments, even though yield could be better elsewhere. #4 - 2166054 - 3Br/3 Full BA townhouse with garage in Stallings, assigned to the sought-after Weddington schools; HOA dues are only $115/month; listing price is $149,000 with a tax value of $157,770. This could be a "sleeper" because HOA dues are low and yield could be good. Future appreciation is also likely due to school assignment and general location. #5 - 2166045 - 3/2.5 short sale in Sardis Woods; claims upgrades include stainless appliances and corian countertops; priced at $139,000 with $162,500 tax value. #6 - 2166351 - 4BR/3BA in South Charlotte (28226), assigned to S. Meck HS; this is a B of A REO priced at $149,900. #7 - 2153756 - 4/2.5 built in 2002 in upscale Taylor Glen community in Indian Trail (Sun Valley schools); reduced to $179,900 with a tax value of $183,440 and 68 days on the market today. #8 - 2157250 - 3/2 on .44 acre lot in Indian Trail (Porter Ridge schools), reduced to $119,900 with tax value of $124,200 and 51 DOM. #9 - 2143851 - 3/2.5 in South Charlotte Greenbriar community (assigned to top-performing Providence High School); this Fannie Mae REO is back on the market after contract failed, reduced to $155,000 with a tax value of $160,500. This is another low risk property that should generate better than a 10% gross yield and have plenty of room for appreciation due to location and school assignment. #10 - 2167171 - 3/2 on .46 acre in Matthews (Union County - 28104); this REO has been reduced to $98,900 with a tax value of $138,360. #11 - 2167148 - 3/1.5 in zip code 28217; LP is $49,900 and tax value is $86,000; OK, it needs a lot of work, but some of you like these lower-priced homes with potential equity. #12 - 2161027 - 4/2.5 in South Charlotte (28270) reduced to $115,000 with tax value of $142,000. #13 - 2167103 - 4/2.5 in North Charlotte (McIntyre) built in 2003; this REO is priced at $122,995. #14 - 2164092 - 3/2 Fannie Mae REO reduced to $72,800 with tax value of $99,900; this one was built in 2002 but it looks like it needs significant rehab. #15 - 2167247 - 4BR/4.5 Bath Denver waterfront REO on .81 acre lot for those of you who like more upscale properties with greater potential for profit; this one is priced at $317,500 and has a tax value of $531,174. As always, if you have any questions about any of these properties, or any other properties, please feel free to contact meat ejdorer@gmail.com. Click the Hyperlink below to link to and view property listing(s) of interest. If after clicking the link, your Internet browser does not launch, right click on the link and Copy the Shortcut. Then paste the Shortcut into your browser's Address Field. XPROP - Customer Eric J. Dorer, B.S., J.D. NC/SC Broker/Realtor® Eric J. Dorer Real Estate 2740 Oxborough Drive Matthews, NC 28105 Tel: (980)875-0950

 

Charlotte Area Real Estate Investor Suggestion List for July 11, 2013

It has been difficult to find the time to put the regular investor suggestion list together, and just as I had a list finalized, several properties went under contract and I had to revise it. But it is finally accessible via the link below. Again; I recognize some of you prefer "fast fix-and-flip" properties while others prefer rental yield from low-risk investments. Still others function under hybrid business models. So I try to cover a variety of goals and geographical areas in this list. I understand not all properties will work for all investors. A brief summary of this weeks suggestions follows:

#1 - MLS 2160476 - 3BR/2.5 BA in the Lake Park community in Indian Trail (nice common areas; good school assignments); this is a Fannie Mae REO with 24 DOM (so available to investors); priced at $135,000 with a tax value of $175,100;

#2 - 2157097 - 3BR/1.5 BA in that Mint Hill/Charlotte border area; this is a HUD home with 39 DOM (so available to investors), listed at $89,000. HUD tends to negotiate more off its LP than Fannie or Freddie by the time a property is made available to investors.

#3 - 2154348 - 3/2 short sale with about 1,900 sq.ft. of HLA AND about 1,300 sq.ft. of unfinished walkout basement; 1.03 acre lot and assignment to top-rated Cuthbertson schools. Weird layout and it needs work, but there might be potential here. Reduced to $154,900 with a tax value of $170,390.

#4 - 2132390 - 3/2 brick ranch with 2-car garage near shopping and assigned to Sun Valley schools in Indian Trail; .60 acre lot; reduced to $125,900 with tax value of $184,400.

#5 - 2163025 - 4BR/2.5BA in South Charlotte (28277), assigned to McKee Road Elementary, S. Charlotte MS and S. Meck HS; this is a VA REO priced at $194,900 with a tax value of $204,300.

#6 - 2156325 - 4/3.5 in zip code 28211- Stonehaven community closer to Uptown; price has been reduced to $213,900 with a tax value of $272,000.

#7 - 2163682 - 4/2.5 in the Wesley Chapel community in Monroe; Sun Valley schools; about 2,550 sq.ft. of HLA; nice pool and common areas; built in 2007; LP is $159,900 with a tax value of $195,220. Would probably be a well yielding rent-and-hold investment.

#8 - 2164125 - 4/2 in zip code 28208; this REO is priced at $51,000 with a tax value of $100,900. This one probably has condition issues, but might be a good fix-and-flip.

#9 - 2159878 - 3/2 in Greenbriar community on the Matthews/South Charlotte border; top Mecklenburg school assignment: Providence HS; Crestdale MS; this would almost certainly be a good low risk rent-and-hold, generating decent rental return with good potention for appreciation. LP is $159,900 with a tax value of $171,500.

#10 - 2164551 - 3/2.5 Townhome in Matthews, assigned to desirable Butler HS and Mint Hill MS; HOA dues are $160/month; this one is a short sale listed at $95,000 with a tax value of $123,100.

#11 - 2159015 - 3/2.5 on 3.06 acre lot in Monroe; this is an REO being sold by a subprime lender, reduced to $162,000 with a tax value of $$248,830-- largely due to the size of the lot, I'm sure.

#12 - 2154744 - 3/1.5 in zip code 28209, older home closer to Uptown, assigned to desirable Myers Park High School; this is an Estate Sale on .35 acre lot with 48 DOM; it has been reduced to $219,900. For those of you who like updating and/or expanding older homes in the Myers Park area, this one might be interesting.

As always, if you have any questions or would like to see these or any other homes, please don't hesitate to let me know.



Click the Hyperlink below to link to and view property listing(s) of interest. If after clicking the link, your Internet browser does not launch, right click on the link and Copy the Shortcut. Then paste the Shortcut into your browser's Address Field.

XPROP - Customer