Did you know that Charlotte, North Carolina is home to twelve Fortune 500 firms and fifteen Fortune 1000 companies? That’s right – this city is well-known for its financial services and distribution. It’s no surprise that Charlotte is one of the most popular places to live and work in the US. In fact, the city was recently ranked as one of the best places for business and careers by Forbes magazine. Compared to other major cities in the U.S., Charlotte has a relatively low cost of living, plenty of things to do, and high quality of life. There are also many excellent schools in the area, making it a great place to raise a family.
Charlotte is a city on the rise. In recent years, it has become one of the hottest real estate markets in the country, and it shows no signs of slowing down. Charlotte is also known for being a center for commerce and finance, as well as a college town with an educated population. This combination of factors makes the city an ideal place to live and work.
With its desirable location, international airport, and diverse population, Charlotte is really a target for many individuals looking to relocate from the Midwest and Northeast. Another inviting thing about the area is the relatively mild climate when compared with the winters to the north or the scorching summers to the south.
The Queen City is a fantastic candidate for your real estate investment capital because it consistently ranks among the top real estate markets in the country, so let’s talk about why.
Dynamic Job Market
North Carolina has been experiencing a boom in job growth recently, not only is it considered one of the top locations to find employment, but it also boasts a low unemployment rate and impressive salary growth. The dynamic job market is just one more reason why investing in rental properties can be a great way to make money. As more people move to North Carolina for work, the demand for rental properties will increase.
Concord, a city in the Charlotte metro, was recently listed among the Top 20 fastest-growing economies in the U.S. You can take advantage of this trend and generate passive income for years to come. With so much to offer, it’s no wonder North Carolina is rapidly becoming one of the most sought-after destinations in the country.
The majority of the 137,000 new jobs expected to be produced in Charlotte through 2028 will be in Charlotte. Rising administrative, distribution, and logistics job opportunities combine to form a dynamic blend in Charlotte’s labor market.
Hospitality / Tourism
The Charlotte Region has experienced substantial growth over the last 10 years. Such growth really was solidified when the Carolina Panthers franchise was sold to David Tepper in 2018. Such a sale made it clear that there was substantial capital being invested into the region and that such capital would remain for the foreseeable future.
The greater Charlotte area boasts some of the best outdoor activities in the region like the National Whitewater Center, our developed parks and greenway systems (soon to be expanded to the Cross Charlotte Trail (XCLT)), and our excellent entertainment venues such as PNC Music Pavilion and Charlotte Metro Credit Union Amphitheatre.
In addition to all of this, Charlotte is considered a welcoming and active community with a young and vibrant population as the average age of a resident of Charlotte is below 35. With a growth rate of just under 2%, Charlotte will likely continue over the next decade to attract and retain many active and excitable young folks to participate in our local activities (and economy). From running to kayaking, and canyoning to mountain climbing, and all things in between, there is something active for all to do in Charlotte. In fact, in 2016 the first running of the inaugural Charlotte Marathon (formerly known as Thunder Road Marathon) made it clear that the Charlotte running community expected the city to be represented. The running community then doubled down when the Around the Crown Race was established allowing runners to literally run on the highways around the city.
With so many pros, and no cons, how can you not see some upside in the real estate market?
Real estate is a great way to invest your money. It’s a solid, physical asset that you can inspect and touch. With data, you can also get a pretty good idea of how well it will perform, and you have a lot of control over what happens to it. You can make improvements to the property that will increase its value and make it more attractive to tenants which in turn, increases the profits. Carefully selecting tenants who are likely to pay their rent on time and take good care of the property will help minimize vacancy rates and maximize your return on investment.
Investing in real estate can be a great way to diversify your portfolio. While stocks and bonds tend to fluctuate together, real estate provides an important diversification that can help mitigate losses in other areas of your portfolio. As you can see, there are many reasons to consider investing in real estate. If you’re looking for an asset with the potential for high returns and easy diversification, real estate should be at the top of your list.
Charlotte is an attractive city for several reasons- its location, affordability, and expanding economy are just a few. The city is continuing to grow and serve as an attractive location for businesses and investors alike. If you’re interested in investing in Charlotte, we would be happy to chat with you about the opportunities available. Give us a call today!