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Americans Rank Real Estate Best Investment for 5 Years Running!

August 13, 2018 by

Charlotte Property Management

Some Highlights: Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 5 years! The generations agree! Real estate is the best investment! Generation X leads the way with 37% believing in real estate as the top investment.

Fund based investors are buying up buy and hold property all over the Charlotte and Lake Norman areas.  they do not throw their money away needlessly.  They know what an investment real estate is.   If you need help with finding your property and having a company take care of it,  we can guide you through the entire process.    We are a company you can count on.

Filed Under: Charlotte Property Management, Lake Norman Property Management, Property Management Tips Tagged With: , , , ,

What to Know Before You Buy a Property to Rent

June 28, 2018 by

At Carolina Living Real Estate, we are always striving to provide the best information to our investor clients to help them make the best decision when it comes to buying investment property.   Please let us know how we can help you!

When it comes to diversifying your investment portfolio, setting yourself up for future wealth, and improving your current financial strategy, there are few things better than buying a property to let. Choosing a home that you can rent out to other people means that you can start to create a source of income that helps you to pay for your bills every month, without you ever having to do any additional work – provided you have the help of the right property management firm.

Of course, like any other good investment, it takes careful planning and focus to make sure that you’re buying the right home to let. Rush into your decision too quickly, and you could end up spending a lot of money on something that doesn’t do much for you in the long term. So, how can you increase your chances of a successful purchase?

1.     Is the Property in Good Condition?

Before you commit to buying a property, it’s important to make sure that you know it’s in good condition. After all, while there’s nothing wrong with investing in a property that needs extra work, the last thing you want is to over-spend on a home that requires a brand-new roof, or a complete overhaul before you can begin putting it on the market.

Never rely on pictures alone to sell a property to you. Make sure that you take the time to go and see the home you’re thinking of buying in person and get a professional to come and evaluate the space too. That’s the only way you can make sure you know what you’re buying.

2.     Are there Any Quick Selling Points

There are plenty of things you can do once you buy a house to make it more appealing on the real estate market. For example, you can give the house a fresh lick of paint to make it look more attractive or deck it out with some new landscaping. However, when you first go to see the property in person and research the surrounding area, you should find that there are plenty of “quick” selling points too.

For instance, are there local amenities nearby that will attract families to your three-bedroomed house? Would a great garden be a huge selling point for someone looking to settle down in a new area? Even the presence of a reliable local moving company like Bellhops Moving in Charlotte can make your rental property more appealing.

3.     Is It in a Neighborhood with Potential?

You don’t need to be a real estate expert to know that if you want to make big money with your real-estate investment, you need to make sure that you’re buying a property in a good neighborhood. Simply taking some time out to go and visit the neighborhood and find out how much it has to offer can be a good way to determine it’s potential. However, it’s worth noting that there are hidden gems out there too.

By looking at upcoming building plans for parks, schools, and other amenities, you can improve your chances of getting ahead of the marketplace trends with your property purchase. Remember, once you think you’ve found a property with a lot of charm and appeal, make sure you talk to an expert to find out what that home would rent for.

This post was written with the help of our friends at Bellhops Moving in Charlotte.

Filed Under: Charlotte Property Management, Property Management Tips Tagged With: , , ,

Charlotte Property Management Service Cost

May 30, 2018 by

First and foremost you need to know that There are NO fees charged by us until your home is rented?  That is huge and a real benefit to you as a homeowner.   Just like you,  we also keep an eye to your ROI!

The next item we need to explain is the cost of maintenance.   This subject is also an area that we feel we excel and make every effort to help you with your costs.   When deciding to hire Carolina Living Real Estate to manage your property or any company for that matter, you need to evaluate your need to be involved or not.

‘You may authorize the management company to handle repairs under a certain dollar amount at its discretion, but you’ll still need to authorized bigger, costlier repairs. Your decision as to whether to hire a management firm hinges on just how involved you want to be, and how immediately available you want to make yourself to your tenants.‘

There are many companies that charge an additional fee for handling maintenance requests.  Some of the very large companies may have actual staff on payroll to handle maintenance.  This has its advantages and disadvantages.   You need to ask questions about the fees and determine if bigger is actually better.

Make certain you establish exactly what maintenance services are included with your fees. It may be that when something needs repair, certain labor costs are included with your monthly flat rate or percentage charge (for example, changing out lighting switch plates and replacing faucet handles) while others are billed individually (such as replacing broken windows and installing new sinks).  Have a home warranty,  Be sure to discuss how the company handles this and what is charges for filing the claim and following up.

Regardless, everything should be clearly discussed. Keep in mind that these fees may require you to increase your rental rate, which could make finding – and keeping – tenants more difficult.

At Your Charlotte Property Management Company we never charge extra for dispatching our maintenance vendors and we never charge extra to manage the Home Warranty process.   We believe it is important that you only pay for what the cost of the maintenance that is actually billed.    Have your own maintenance contacts?   No problem we call them for your problems.   The only caveat is that negotiating the cost of the service is between you and your vendor.

If you have specific questions, please do not hesitate to contact us!

 

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Real Estate Investing – Word From A Wise Man

November 17, 2017 by

Charlotte Real Estate Investing – Set your Goals for 2018

Charlotte Property Management

If you think about it, many very successful people have increased their wealth with Real Estate Investing.  Charlotte Real Estate has a huge market for investors and we can help you pick the right property in the right location.  We have years of experience helping investors make sound decisions on  the right property.

Franklin D. Roosevelt was not a dumb man!  Forget the politics and Look out Donald Trump made his…

Learn More about Real Estate Investing 

Contact me to get started.

Filed Under: Charlotte Property Management, Property Management Tips Tagged With: , ,

Why Real Estate Investing is Still a Viable Investment Option

October 16, 2017 by

According to Bloomberg news, millennials are not buying homes now because they are leaving school with so much student loan debt it is near impossible for them to qualify for a loan.    Read the article Student Debt a Major reason millennials are not buying homes.  Here is an excerpt from the article:

“As much as 35 percent of the decline in young American homeownership from 2007 to 2015 is due to higher student debt loads, the researchers estimate. The study looked at all 28- to 30-year-olds, regardless of whether they pursued higher education, suggesting that the fall in homeownership among college-goers is likely even greater (close to half of young Americans never attend college).”

What this means for investors of real estate is that young families are going to be renting homes for the foreseeable future.   We are seeing SO many apartment’s being built in the Charlotte area for a reason.  These developers do their homework.   However with a glutton of apartments more and more young families are going to want the family environment with the white picket fence.

Single family homes are going to continue to rent and there is going to be  an abundance of young people want to live in homes with a yard and amenities.    These types of homes, for this reason, are still fantastic options and good investments for real estate investors.

Here at Carolina Living Real Estate and Property Management we specialize in managing single family homes and taking the burden of dealing with day to day, month to month issues owning these homes.  We manage several portfolios’s for investors and they are enjoying the benefit of having virtually zero down time with regard to occupancy.

Are you a new investor or seasoned one looking to purchase more?   Contact us and we can guide you into areas that have great returns and very little vacancy.

Filed Under: Charlotte Property Management, Property Management Tips Tagged With: , ,

What is the Eviction Process in Charlotte, NC? How Long Does it Take?

September 19, 2017 by

Eviction is a topic that owners often ask about. Fortunately, in the 12 years we’ve been in business at Carolina Living, we have only had to evict a tenant three times. That’s a pretty good record. But, we do keep up with the laws, and we do know what is required to remove a tenant through the eviction process.

Eviction Process Charlotte, NC: Serve Notice

Verify first whether your tenant is a veteran. The courts require this. Then, you have to send the tenant a 10 Day Letter. This is for nonpayment of rent, which is most common type of eviction. The tenants will typically have the first five days of a month to pay. If you have reached the sixth day and you have not received rent, you can send a 10 Day Letter demanding that rent be paid or the property be vacated.

Property Management Charlotte: Writ of Possession

Once the 10-day period is up, the next step in the tenant eviction process is to go to the courthouse and file for a Writ of Possession. You can ask for rent that is owed and the removal of the tenants from the property. Then, you’re at the mercy of the courts, and you wait for a court date. Usually, you’ll get your court date within 5 to 7 days. The magistrate hears both sides and makes a determination on possession and any money owed. Sometimes, the magistrate will offer the tenant an opportunity to pay and get caught up. However if you have proof that the tenant has not paid, you will usually gain possession of your property. The tenant then has 10 days to appeal.

How to Evict a Tenant: Obtaining Possession

After the appeal process has run through the 10 days, you can hire the sheriff to lock your tenants out of the property. Meet the sheriff there, and have a locksmith ready. The sheriff will make sure everyone is out, and you can change the locks.

There are other rules involved in the eviction process, especially if furniture and belongings are left behind. Overall, the process takes between 30 and 45 days. That’s not as long as many people fear, but it’s never a good experience. If you do things correctly and you’re prepared for court and have documentation, it’s a fairly simple process.

If you need help evicting a tenant or with anything pertaining to Charlotte property management, please don’t hesitate to contact us at Carolina Living Real Estate.

Filed Under: Charlotte Property Management, Property Management Tips Tagged With: , , , , , , , , , , ,

What is Considered Normal Wear and Tear? Charlotte Property Management

August 30, 2017 by

 

Normal wear and tear is a subject that comes up every time a tenant moves out of a property. We have learned that if you communicate the normal wear and tear definition up front with tenants and owners, life is easier for all parties. [Read more…]

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Why Owners Choose Carolina Living Real Estate – Charlotte Property Management

August 22, 2017 by


At Carolina Living Real Estate, we manage single family homes in the Charlotte area, from points north to Lake Norman, points south to Lake Wylie and Valentine, and points east to Kannapolis and Concord. Today, I want to tell you a little bit about our company and share what I think are some of the benefits to working with us. These points are based on feedback we’ve received from current owners and owners who have come to us from other property management companies.

Property Management Charlotte: Communication

Communication is something we’ve been praised for providing and something that clients from other companies have complained about not receiving. A lot of owners said they never heard from their property managers. We believe strongly in communicating up front. If you set expectations, you create a smooth situation for everyone. A good example is wear and tear on your property. We communicate expectations to both owners and tenants, and have documentation to support that communication. This is critical and eliminates a battle at the end of at tenancy with security deposits.

Property Management Charlotte: Maintenance Procedures and Costs

Many larger companies dispatch their maintenance people without talking to you about what’s needed, and you don’t hear about problems or expenses until the end of the month. We talk to you first, in case you have your own solution you’d like to try. When something needs to be repaired or replaced at your home, we want to create a good situation for owners and tenants. This helps our relationship. We can work with warranty companies or explore any avenues and options that you request. Providing good maintenance comes down to communication and the amount of money it costs to take care of repairs. We don’t charge you when we send people out. You pay only for what the repairs cost.

Property Management Charlotte: Leasing Fees

We do not charge an exorbitant amount to find you a tenant. You’ll see leasing fees of half a month’s rent with other management companies. The most you’ll be charged with us is 20 percent, and that pays for an external company bringing us a tenant if that’s how we locate a qualified renter.

We aren’t a large company. We manage about 100 homes, and that benefits you because we are closely involved with you and your property and everything that goes on there. We work hard.

Communication, maintenance, and your money are important things to take care of for you. We’d love to tell you more about our Charlotte property management services, so please contact us at Carolina Living Real Estate.

Filed Under: Charlotte Property Management, Property Management Tips Tagged With: , , , , , , , , , , ,

Why Should You Buy a Charlotte Rental Property with a Loan? Charlotte Property Management Advice

July 17, 2017 by

Buying Charlotte Rental Property with a Loan? Carolina Living Real Estate Property Management Advice

Are you an investor evaluating whether to buy Charlotte Investment Property with cash?  Is that even an option for you?  Buying the right Charlotte investment home with a loan makes a lot of sense too. That’s because you’re buying an appreciating asset that grows in value over time while a tenant pays your mortgage. The return on that investment can be very good.

Down Payments and Rental Income

Let’s look at an example.,Consider a home priced at $200,000. An investor looking for a mortgage will most likely need to put down 25 percent of the purchase price. That’s $50,000 for the down payment, leaving you with a mortgage loan of $150,000. The Principal, Interest, Taxes and Insurance monthly payment will run in the neighborhood of $1,050 a month. Choosing the right property with our assistance will allow the rent you earn on that property will easily cover those costs.   With our deal analyzer we can walk through these costs and potential rents to ensure that you are positioning yourself for success.

Appreciation Estimates

Even more exciting than what you earn in rent is what you are earning for the future. If the property in this example appreciates at three percent per annually, the home would have an estimated value of $231,000 after five years. That’s an appreciation of $31,000.  This gain compared to the original $50,000 investment you made equates to a 62 percent return on investment. We invite you to find a better return with any investment vehicle.  It’s also worth noting that the three percent appreciation rate is very conservative. Last year, values grew at better than 5 percent. In our market, there’s usually an annual gain of four percent or higher.

Carolina Living Real Estate Property Management

If you’re thinking about buying investment property or you already own some then please consider joining the Carolina Living Real Estate Property Management family. Call us today to learn why over 90% of our clients are Referrals from past and current customers. You’ll be glad you did.

Note:  If you own multiple properties as us about negotiating our rate to manage your portfolio.

Filed Under: Charlotte Property Management, Property Management Tips Tagged With: , ,

Property Condition DOES Matter – Charlotte Property Management

June 7, 2017 by

Does Property Condition Matter? – Charlotte Property Management Experience says:

Some rental owners are what we call accidental landlords who end up renting a property because they couldn’t sell it for one of numerous reasons. In these situations, money is often an issue. Even on a budget, it’s important ready the home for another family to move in as a rental.

Charlotte Property Management: Make it Look Nice

We have found that many of the owners in these situations know of cosmetic issues but they don’t want to spend the money to fix them. The most common issues are carpet stains and wall marks. Frequently there are other items that need attention that the need attention but it did not bother the owner while living there.  However, most likely it will bother a prospective tenant. Too often, these owners don’t want to spend the money to address these issues, and they want to rent the property as-is. It may seem like you’re saving money with this approach, but the reality is that its not.

Charlotte Property Management: Everyone wants a quality Tenant 

The reality is that Property Condition and quality tenants go hand in hand. Think this through carefully. You want to consider the tenant who would be willing to rent the property in as-is condition. It’s not likely that they have good standards themselves or they will have the mindset that the owner does not care so why should they. Our Charlotte landlord advice is simple: deliver a product in great shape to get the highest possible rent and quality tenants. The investment you make on those cosmetic repairs will be well worth the money and the time.

Charlotte Property Management: Holding Tenants Accountable

We require the tenant to return the property in the same condition it was delivered to them, and we hold them accountable, as we should. So it’s important to do the right thing and present a property that the tenant is proud to call home. If you want to get the home returned to you in excellent condition, you need to make sure the home you hand over to the tenant is in excellent condition.  We have even created a document to be signed by all parties that are specific about what is and what isn’t normal wear and tear.

 

Filed Under: Property Management Tips Tagged With: , , ,
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