How to Find Investors to Buy Your Home in Charlotte, NC
If you're wondering how to find investors to buy your home in Charlotte, NC, here are some tips. I'll go over the advantages of selling to investors, historical market data, and sourcing home investors in Charlotte, North Carolina.
If you are wanting to sell your property, no matter where you are, there are certain things you need to consider. These considerations will somewhat depend on whether you are selling the home that you are living in, or selling as an investor (with or without existing tenants). If you are selling in Charlotte, it will be worth selling to an investor as opposed to a traditional home buyer. We will discuss the advantages and disadvantages, as well as how to find such investors.
Table of Contents
Selling to Investors
If you are selling your property, it will be true that you do not really mind who purchasers it. As long as it gets sold. There is a reason however, why many property owners in Charlotte will prefer to sell to an investor. These include the following:
If the property that you are selling has existing tenants, it is imperative that you consider their legal rights when selling. Just because you decide to sell your investment property, does not take away their legal rights. If they have a signed lease, it does not matter who the owner is – the lease is the law. Current tenants cannot be evicted out until their lease ends. It makes sense that selling to other investors is going to therefore be preferable, as any current tenants will be viewed as a positive. This could make the sale go quicker and smoother (and could even make the sale price seem more appealing to them). Rentec Direct has more information about the complexities and advantages of investing in properties with existing tenants (and selling as an investor).
Existing tenants in an investment property can be appealing to potential investment buyers, however at the same time, it can also be a hindrance. If the current tenants are not considered good tenants, issues can arise. If they have rent owing or have caused damage, then you are asking the future investor to deal with it. Nobody wants to deal with problem tenants straight away when purchasing an investment. There are legal avenues that exist to deal with bad tenants, but these can be costly and time consuming. So, take current tenants into consideration when selling your property, especially when selling to a future investor.
Advantages of Selling to Investors
With negatives also comes positives, and selling to investors is no exception. If the property needs some tender loving care and work, then selling to an investor could be surprisingly advantageous. As QueenCity Home Buyers states, home repairs will not likely deter an investor. Most investors will be happy to buy a house in as-is condition, so you can skip any costly repairs and cleaning. That way the investor can fix the house up as they please for their own investment strategy. It can also mean that you may be able to skip a contractor. Perhaps with a small decrease in price, but the savings will outweigh the cost.
Selling Investments in Charlotte
In Charlotte, the process for selling to an investor is considered to be quick compared to traditional methods of sale – on average taking between 7-10 days as mentioned on Solution HomeBuyers. There are also fewer fees involved, and investors are more likely to cover any closing costs. Investment and rental properties are plentiful in Charlotte, so it is considered to be a good location for investors to sell.
Historical Listing Prices and Averages in Charlotte
In Charlotte at any one time, there are on average 1,600 investment properties for sale and $8,000 off-market. According to Connected Investors, the average property price for investment properties is $343,402 with a profit per flip of $68,000. Charlotte is a renter’s paradise, with over 87,000 rental properties in the city alone. This makes selling an investment property appealing and the process more straight forward and quick than if you were to sell to a traditional buyer.
Sourcing Investors in Charlotte
If you are looking to sell your property to an investor in Charlotte, you need to be aware of the current market trends specific to the area. According to Solution Home Buyers, Charlotte is considered a buyer’s market. This means there are a lot of properties available for sale at any one time. And this will inevitably bring down sale prices. Unfortunately, this trend tends to benefit the home buyer rather than the seller. Investors tend to look for different things in a home for sale than a traditional home buyer, so taking advantage of this face that create more success with the sale.
If you are wondering how to best source potential investors, then there are sources that link potential investors together. One example is Connected Investors, and as their name suggests, they connect investors with buyers throughout Charlotte. Advertising on the main real estate websites (such as Zillow) is also a good idea, including in the advertisement that you are wanting to sell to an investor. Charlotte has a high number of investors looking for new investment opportunities, so it should not be too difficult to find them if you know where to post.
Homeownership trends have changed considerably over the last 50 to 60 years. As a homeowner looking to sell, you need to look at the current trends in your current location. Charlotte is a buyer’s market, and there are a large number of investment properties. This also means lots of investors willing to buy. If you do decide to sell to an investor in Charlotte, you need to consider the advantages and disadvantages and concentrate your efforts to support a quick and easy sale.
Charles is the founder of infoSpike.com. He enjoys real estate investing, marketing, and personal finance. Read more about Charles here.