Investors
and Charlotte
Changing times require deploying all your resources.
As the
stock market looks more south than north, and investors seem pat on
holding their money, waiting for something to happen.
Here in Charlotte,
NC, Wachovia is now Wells Fargo and Bank of America has enveloped
Countrywide and Merrill Lynch.
None of this has been working out
smoothly for investors.
Investors are key to any real estate market. There is
private money out there to invest, just an unwillingness to put in into
play. I don't know how long mortgage rates will be this low, but odds
are they will go up.
With so many undervalued houses on the Charlotte NC real
estate market, bargains are everywhere. Credit scores are keeping many
from buying, so the rental market is going to be strong.
Buy and hold on
select properties, will provide solid rental income. If you Buy in the
Charlotte Market, and when the market bounces back, there should be a
nice equity position that exceeds Wall Street returns.
Using Creative Financing
One of my investor clients had an interesting transaction
recently. My client wanted to sell one of his properties that he owned
outright.
A prospect to buy his property was credit challenged.
The
couple was renting and knew what they could afford monthly. My listing
clients decided to become the bank.
We structured a deal where the
sellers would finance the transaction at 7% with 5% down co-signed by
the father. The buyers were to pay closing costs.
The note was a 4 year
balloon. This was all written up by the closing Attorney.
Everybody
won.
My clients were thrilled and so were the buyers.
While this was a little out of the norm...present times
require pulling together all your resources.
Time to shake your investor
tree.
Relocating to Charlotte?
Have a home to sell?
Looking for
some great investment properties?
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Investing in
Homes
An end of an era.
We buried my grandmother when she was 99 and a half. Born in August of 1909.
A long life that had
seen horses replaced by cars and trains replaced by planes.
Astronomy
became a reality when man landed on the moon. Computers replaced
workers.
But real estate was constant. She came from the Will Rogers era
under the notion that one "should put their money in land..."cause they ain't makin' it no more.
"Real property is under assault as an investment in 2009. Why? because
of fear itself. No one remembers who Will Rogers was and rumors of the
death of real property are greatly exaggerated.
Put your money in good real estate.
In good times and bad, real estate will never have a value of zero.
ENRON has a value of zero and many invested in it.
Madoff has a value
of zero, and more invested in that. Real property always has value.
So when I hear of paper losses similar to: "I lost 30% of my house's
value" or " I think my money is safe in treasury notes" ..I feel my
grandmother's generation screaming Will Rogers' mantra..."hey you
knuckleheads...invest in real estate....it's for real."
No, I'm not a speculator. But the oil guys are...and those that went
long recently are now pretty short on funds.
The point is, that there is
no pie in the sky. If you were seeing your house rise in value by double
digits (on paper) and watched it drop by double digits (on paper), you
are probably still ahead if you invested years ago.
And if you are
recent buyer...Hang in there. They ain't makin' it no more.
Yeah, we over built. But then, we over populated too. So unless the
plague comes back, real estate is a good long position.
Investing in Charlotte Real Estate
And as long as
we are talking about real estate in the present, Never before in my days
have I seen a better time to invest in Charlotte real estate!
Prices and interest rates are both at all time lows!
This isn't complicated. Do your homework with the aid of
an experienced Realtor (one of us)and you will find your biggest
investment is a bargain right now.
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