One flipper’s paradise in the Southeast has been so hot for so long that investors might think the well is dry — but there’s still room to run in North Carolina’s biggest city.
“We are still seeing flippers here in the Charlotte Metro area, and the immediate surrounding cities in North and South Carolina have become such desirable markets that flipping has become tougher with tighter margins,” said Nicole George, team leader and owner of Premier Property Solutions Team at Keller Williams Realty. “However, there is still money to be made. Desirability comes from proximity to major city areas, activities, the airport, school rankings, commercial multipurpose complexes, the lakes, etc. It also comes from the fact that while Charlotte prices are rising, we’re still one of the most affordable cities to live in.”
The savviest flippers in the Charlotte region are holding off on selling their rehabs and taking advantage of record-high rents while they last.
“Another big trend we are seeing is the short-term rental market,” George said. “Instead of selling, the investors are keeping and utilizing them as short-term rentals in all price points.”
