Hello, and welcome to another episode of Passive Real Estate Investing. I'm your host Marco Santarelli. Well, it's been a while since we did a market spotlight. And so today we're gonna have a market spotlight on North Carolina, specifically Charlotte large market and Metro area that we have been in for many, many years on and off. It just depends on our team and inventory, but it's a great market that whole region in North Carolina has been growing very rapidly. There's a lot of people moving there and there's a lot of reasons to move there and invest there.

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And I'm excited to have Tyler, one of our fantastic property providers in the area on the show with me today. So Tyler, welcome to the show.

Thank you for having me.

No, it's great to have you on, we haven't done a market spotlight in a while and I don't actually remember the last time we did a market spotlight on the Charlotte Metro area. So it'll be good to share with our audience and listeners a little bit about the market, why we should be investing there, what's going on there. And then we will kind of conclude by talking about the neighborhoods and the properties that are available and what that looks like. So why don't we start off with, you know, the most general question, which is where I always like to start, and that is why Charlotte?

Why Charlotte? It's a great question. Charlotte is a growing city in North Carolina, just above South Carolina. There's a lot of great things going on there. It's the second largest banking capital in the country, right behind New York city. It is quickly becoming a tech city as well. There's about a hundred people moving to Charlotte every single day from places like Ohio, New York, California, and everywhere around there. I think people really like it here because of the affordable cost of living and the, the nice climate. You're very close to the mountains. You're only a few hours away from the beach as well. Taxes are relatively low here compared to other states. And so when people come here from other states, they, they feel it's very affordable compared to where they're from in a lot, a lot of ways.

Yeah. Nice. So, you know, I like to hear that the population is growing because when you have positive net migration into a market that increasing population provides support for the housing market. And if it's big enough and it keeps growing, then it provides upward pressure. And so what you get is price growth because demand starts to exceed supply. And then you also start to see that trickle into the rental market where rental prices start to go up as well. And if you're invested there, it's good. If you're a property owner or homeowner, it's good for you because you know, rent go up, cash flows, go up, equity goes up. And so, but if you're not in that market, then it's something you should look at because if that's a trend that's gonna continue for years to come, then it's something you want to take advantage of. You wanna ride that wave or be part of that trend and take advantage of that opportunity. So what kind of employers make up that market? I always like to look at markets that have broad economies. You mentioned one of them already, you know, the finance sector.

Very big finance. So there's a BB&T now Truist the SunTrust and BB&T of merge. And they're a bank called Truist now. We got a Wells Fargo here. There is Bank of America is headquartered here as well. Just to name a few, there's a lot of manufacturing as well in the outsskirts of the city got places like Jeld-Wen where they global manufacturer of windows and doors got Bobcat Doosan of North America, which creates obviously large construction equipment and things of that nature. Just to name a few again,