How What We Love About Charlotte Can Help YOU
The Charlotte Real Estate Market
My partner Marc and I often get asked about why we chose the Charlotte real estate market as our current and primary market for real estate investing. We are not from Charlotte. We are not even from the USA for that matter. So you’re probably wondering what Canadians are doing investing in the U.S.?
As I think it’s important to know about with whom you might be investing, I thought I’d put a personal spin on this post. You get to learn a little bit about the people behind Simple Acquisitions.
First and foremost Marc and I truly felt comfortable in Charlotte. I know I loved it the first time we drove into Uptown. It reminds us of Ottawa, Canada’s capital city, which is where we currently reside. The “Queen City” is a clean modern city with lots of life and activities. We love the outdoors and try to take advantage of the biking, kayaking and hiking when we are there. The southern hospitality in North Carolina is top notch and the weather is equally as inviting. Even though we are Canadians we do NOT like winter. I grew up in a small mining town in the sub-arctic and I never got accustomed to the cold. I was thrilled to learn Marc felt the same way. We never argue about where we travel because southern destinations are always on our radar.
We are very hands on with our acquisitions so we have a strong physical presence in the cities in which we invest. We spend as much time there as possible. Choosing a market that we can drive to in a day (all-be-it a long day at over 880 miles) is an important piece of the puzzle. Location is a critical element.
So other than the obvious, are you wondering what else pointed our investing compass to the Charlotte real estate market?
Well, like with any real estate investor we look for specific market conditions. Real estate is cyclical. So when we look for buy and hold properties, we want to choose a property that will have high occupancy rates during good rental times and bad. Population growth is important. We want to buy properties in cities where the population is growing year over year. More population means a greater rental pool.
Economic growth is also key. Job growth and the influx of new businesses help keep rental occupancy high. Economic diversity is critical. Buying a property in a one industry town might look enticing when the industry is in a boom, but every industry has its lulls. The oil Industry right now!! When there is a diversified economy there is more stability in the rental markets. When one industry takes a hit, there are others that are strong to take up the slack. The existence of Fortune 500 companies is another requirement we seek.
Charlotte is also a great transportation hub. It’s also a city that many baby boomers are flocking to for retirement and millennials moving to for career opportunities. These are two major demographics that require rental accommodations.
As “y’all” can see the list is long as to why the Charlotte real estate market is our primary choice. First and foremost our decision are always based on the numbers and the returns we can generate with our lender partners. We understand that there are a ton of investment opportunities out there. As an investor you want one that offers you a great return. So, if the numbers don’t t get us all excited, then we don’t do the deal regardless of where it is.
Life is all about work and play. We believe that if you work hard and play hard, you strike a balance. This way you don’t burn out and get sloppy with the important elements of your business. As some of you already know, running your own business is hard work. However, we are so passionate about real estate that we don’t really consider it work in the traditional sense. So enjoying where we “work” is a big perk.
If you want to know more about Simple Acquisitions or about choosing investment in the Charlotte real estate market, drop us a line.
Remember, real estate doesn’t have to be complicated. With Simple Acquisitions it’s smart and simple!