Here is the first Charlotte area real estate
investor suggestion list in a couple of weeks. Please excuse the delay. I find
and research these properties myself, and I have been quite busy.
As always, I attempt to find properties that may work under various investor business models and strategies, from "fast flip" to "buy-renovate-rent-and-hold." I also try to cover a large geographical area in metropolitan Charlotte, and an equally large range of prices. Of course, as a general rule, the higher the price, the more "upside" there should be upon rehab and resale.
I continue to see some slight moderating of activity on the part of larger, cash-rich investment funds. I think this has caused a slight increase in REO inventories among the likes of Fannie Mae, and you will note there are again not only a couple of Fannie Mae properties on this current list, but those properties have been on the market well beyond the 15-day owner-occupant preference period.
Again; I will let the MLS reports accessible via the link below speak for themselves. Look at price vs. tax value... location... sq.ft. of heated living area... etc. None of these would have been put on this list if I didn't think they offered some good potential value. There are too many to summarize in this email, so I will choose a few to single out. But the summaries below do not mean I think these are "the best." this all depends on your particular goals and strategies.
#5 on the list - MLS #2149617 - this is a 4BR/2.5BA home on a 2 acre lot in Matthews (Union County), assigned to some of the most desirable schools in Union-- Wesley Chapel Elementary, Weddington middle and high schools. This an "auction" property, wherein the buyer pays a 4.5% "buyer premium," and I usually avoid these as somewhat insulting, but this one has a listing price of $195,000 and a tax assessed value of $289,000. In this location, on such a large lot, with these school assignments, there could be a lot of upside in flipping this one.
#7 - MLS 2164753 - Something very different from the above, this is a 3/2 on .31 acre in the established Madison Park community, closer to Uptown Charlotte. This is a Fannie Mae REO with 124 days on the market today. It has been reduced to $179,900 with a tax assessed value of $209,700.
#8 - 2162859 - 5BR/3BA home in the established Quail Run community on 1.27 acres; this is an HSBC REO with 131 DOM, reduced to $218,895 with a tax value of $289,700.
#17 - 2181324 - 4BR/3BA in Montclaire; this is another Fannie Mae REO with 117 DOM today; it has been reduced to $118,000 with a tax value of $150,300.
#18 - this is an expired listing in Starmount (near South Boulevard, light rail and a lot of redevelopment); this REO is a 3BR/1Bath, but many of these older homes are laid out so that adding a bathroom is not a huge undertaking. This one has been reduced to $115,000, with a tax value of $142,000.
#19 - 2188059 - this is a 3/2.5 short sale in Mintworth Village, in Mint Hill. The home was built by Eastwood Homes in 2009, so it cannot need much. School assignments are good (Mint Hill middle school/Butler HS). Listing price is $110,000, with a tax value of $146,500.
Again; the above is only a sampling of the properties on this list. The link below will take you to the full MLS reports, and I recommend that you look at each property to assess how it might fit into your investment strategy. Then if you have any questions or would like to see a property, 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
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
As always, I attempt to find properties that may work under various investor business models and strategies, from "fast flip" to "buy-renovate-rent-and-hold." I also try to cover a large geographical area in metropolitan Charlotte, and an equally large range of prices. Of course, as a general rule, the higher the price, the more "upside" there should be upon rehab and resale.
I continue to see some slight moderating of activity on the part of larger, cash-rich investment funds. I think this has caused a slight increase in REO inventories among the likes of Fannie Mae, and you will note there are again not only a couple of Fannie Mae properties on this current list, but those properties have been on the market well beyond the 15-day owner-occupant preference period.
Again; I will let the MLS reports accessible via the link below speak for themselves. Look at price vs. tax value... location... sq.ft. of heated living area... etc. None of these would have been put on this list if I didn't think they offered some good potential value. There are too many to summarize in this email, so I will choose a few to single out. But the summaries below do not mean I think these are "the best." this all depends on your particular goals and strategies.
#5 on the list - MLS #2149617 - this is a 4BR/2.5BA home on a 2 acre lot in Matthews (Union County), assigned to some of the most desirable schools in Union-- Wesley Chapel Elementary, Weddington middle and high schools. This an "auction" property, wherein the buyer pays a 4.5% "buyer premium," and I usually avoid these as somewhat insulting, but this one has a listing price of $195,000 and a tax assessed value of $289,000. In this location, on such a large lot, with these school assignments, there could be a lot of upside in flipping this one.
#7 - MLS 2164753 - Something very different from the above, this is a 3/2 on .31 acre in the established Madison Park community, closer to Uptown Charlotte. This is a Fannie Mae REO with 124 days on the market today. It has been reduced to $179,900 with a tax assessed value of $209,700.
#8 - 2162859 - 5BR/3BA home in the established Quail Run community on 1.27 acres; this is an HSBC REO with 131 DOM, reduced to $218,895 with a tax value of $289,700.
#17 - 2181324 - 4BR/3BA in Montclaire; this is another Fannie Mae REO with 117 DOM today; it has been reduced to $118,000 with a tax value of $150,300.
#18 - this is an expired listing in Starmount (near South Boulevard, light rail and a lot of redevelopment); this REO is a 3BR/1Bath, but many of these older homes are laid out so that adding a bathroom is not a huge undertaking. This one has been reduced to $115,000, with a tax value of $142,000.
#19 - 2188059 - this is a 3/2.5 short sale in Mintworth Village, in Mint Hill. The home was built by Eastwood Homes in 2009, so it cannot need much. School assignments are good (Mint Hill middle school/Butler HS). Listing price is $110,000, with a tax value of $146,500.
Again; the above is only a sampling of the properties on this list. The link below will take you to the full MLS reports, and I recommend that you look at each property to assess how it might fit into your investment strategy. Then if you have any questions or would like to see a property, 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
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
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