Welcome to Charlotte!
The Charlotte, North Carolina MSA is one of the nation’s most explosive growth markets with home prices appreciating over 78% in the last 5 years! (Source: FHFA.gov). Known as “The Financial Capital of the South”, Charlotte is the biggest financial center in the U.S. after New York City, and it’s home to both Bank of America and Wells Fargo. Oh, and it’s the Pimento cheese capital of the world too. 🙂 Charlotte is the home of 9 Fortune 500 Companies and 18 Fortune 1,000 companies with job growth booming and low unemployment. (Source: BLS.gov) Charlotte also has lower than average home prices, lower than average cost of living, but an incredible quality of life. This perfect storm provides a uniquely investor-advantaged real estate market for buying and holding rental properties.
Lackey Street Ext Kings Mountain, NC
Reservation Terms:
Request to Submit an Offer to Purchase. The Prospective Purchaser requests the right to submit an Offer to Purchase the above specified property from the Seller. The Seller may solicit similar reservations from other Prospective Purchasers and may take as many reservations as Seller deems appropriate.
Purchase Contract and Earnest Money Deposit. Upon receipt of this reservation, the Seller may send to Prospective Purchaser a Purchase and Sale Agreement as well as instructions on where to send an Earnest Money Deposit that will be governed by the terms of the Purchase and Sale Agreement signed between Seller and Prospective Purchaser.
Not a Sale. By execution of this Reservation, the Prospective Purchaser shall not obtain any interest in the property. This Reservation is not a contract for the sale of real property.
Obligation. The Prospective Purchaser has no obligation under this Reservation unless and until the Prospective Purchaser enters into a Purchase and Sale Agreement with the Seller. In such event, the terms and conditions of the Purchase and Sale Agreement shall supersede the terms and conditions of this Reservation and this Reservation shall terminate and be in no further force or effect with the exception of the “Non-Representation and Indemnity of Referring Brokerage” clause which shall remain in effect.
Termination. This Reservation may be terminated upon the happening of any of the following:
- The Prospective Purchaser does not enter into a written Purchase and Sale Agreement for the specified property
- The Purchase and Sale Agreement is rejected by the Seller for any reason.
Transfer or Assignment. The rights of the Prospective Purchaser hereunder may not be transferred or assigned without the express written consent of the Seller, which consent may be withheld for any reason. Any attempt to transfer or assign this Reservation prior to such written approval shall automatically terminate this Reservation and the Prospective Purchaser shall have no further rights hereunder.
Non-Representation and Indemnity of Referring Brokerage. Maverick Investor Group, LLC (“Maverick”) does not represent the Prospective Purchaser in any capacity and has made no statements, promises or representations regarding the real property. Nor does Maverick represent the Seller in any capacity. Maverick’s only role has been to refer the Prospective Purchaser to the Seller. Prospective Purchaser agrees to indemnify, defend and hold Maverick harmless from all claims, damages, costs, etc. (including attorney’s fees) relating to any real property transaction between Seller and Prospective Purchaser. Furthermore, Prospective Purchaser agrees that Maverick has introduced them to a buying opportunity for real property only and not to a securities offering.
OFFERED BY THE SELLER
Snapshot Financials
Estimated Property Taxes
Estimated Insurance
Home Owners Association Fee
Property Management Fee
Based on 5%
Based on 4%
Total Monthly Expenses
Monthly Net Operating Income ('NOI') = Monthly Gross Scheduled Rent - Monthly Operating Expenses - 5% Maintenance Estimate - 7% Vacancy Estimates. NOI does not take into account any financing that you may be using. The NOI is always an 'estimate' and can never be guaranteed because it includes the non-fixed variables of 'maintenance' and 'vacancy' which vary over time.
Capitalization Rate ('Cap Rate') = Annual Net Operating Income / Purchase Price. Cap Rate does not take into account any financing you may be using nor any closing costs you may be paying.
Gross Rent Multiplier ('GRM') = Purchase Price / Annual Gross Scheduled Rent. GRM is only a price to rent ratio and does not take into account any operating expenses, financing, closing cost payments or maintenance and vacancy assumptions. And remember, GRM is like a golf score, the lower the better.
Property Features
Reservation Terms:
Request to Submit an Offer to Purchase. The Prospective Purchaser requests the right to submit an Offer to Purchase the above specified property from the Seller. The Seller may solicit similar reservations from other Prospective Purchasers and may take as many reservations as Seller deems appropriate.
Purchase Contract and Earnest Money Deposit. Upon receipt of this reservation, the Seller may send to Prospective Purchaser a Purchase and Sale Agreement as well as instructions on where to send an Earnest Money Deposit that will be governed by the terms of the Purchase and Sale Agreement signed between Seller and Prospective Purchaser.
Not a Sale. By execution of this Reservation, the Prospective Purchaser shall not obtain any interest in the property. This Reservation is not a contract for the sale of real property.
Obligation. The Prospective Purchaser has no obligation under this Reservation unless and until the Prospective Purchaser enters into a Purchase and Sale Agreement with the Seller. In such event, the terms and conditions of the Purchase and Sale Agreement shall supersede the terms and conditions of this Reservation and this Reservation shall terminate and be in no further force or effect with the exception of the “Non-Representation and Indemnity of Referring Brokerage” clause which shall remain in effect.
Termination. This Reservation may be terminated upon the happening of any of the following:
- The Prospective Purchaser does not enter into a written Purchase and Sale Agreement for the specified property
- The Purchase and Sale Agreement is rejected by the Seller for any reason.
Transfer or Assignment. The rights of the Prospective Purchaser hereunder may not be transferred or assigned without the express written consent of the Seller, which consent may be withheld for any reason. Any attempt to transfer or assign this Reservation prior to such written approval shall automatically terminate this Reservation and the Prospective Purchaser shall have no further rights hereunder.
Non-Representation and Indemnity of Referring Brokerage. Maverick Investor Group, LLC (“Maverick”) does not represent the Prospective Purchaser in any capacity and has made no statements, promises or representations regarding the real property. Nor does Maverick represent the Seller in any capacity. Maverick’s only role has been to refer the Prospective Purchaser to the Seller. Prospective Purchaser agrees to indemnify, defend and hold Maverick harmless from all claims, damages, costs, etc. (including attorney’s fees) relating to any real property transaction between Seller and Prospective Purchaser. Furthermore, Prospective Purchaser agrees that Maverick has introduced them to a buying opportunity for real property only and not to a securities offering.
Seller's Additional Notes
Note: Both Sides are Leased!
Seller is offering 2% seller-paid closing costs.
Charlotte Highlights
Charlotte Properties:
- New Construction Single Family Rental Properties and Duplexes
- Established Communities
- Granite Countertops, Stainless Steel Appliances and a 2-10 Builder Warranty
- 6%+ Average Cap Rate
Charlotte Market:
- 7.6%+ Home Price Appreciation last year in the Charlotte MSAs (Source: FHFA.gov)
- 78% Home Price Appreciation in the Last 5 Years (Source: FHFA)
- 20% Population Growth in the Last Decade (Source: U.S. Census)
- Home of 9 Fortune 500 Companies including Bank of America and Wells Fargo
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