While the real estate markets of many states are struggling, North Carolina is enjoying a boom in real estate and a strong seller’s market. The principal cities of Charlotte and Raleigh have seen an increase in both population and GDP while most American cities have experienced a substantial decrease in recent years.
If you want to invest in multi-family development in North Carolina, you need to find a reliable partner in the real estate industry. Of course, finding the right multi-family real estate development partner requires a lot of considerations. Here are some tips for choosing the right real estate development company to form a partnership with.
Important Qualities of Multi-Family Real Estate Development Partners
1.They’re Experienced Professionals – Whether you choose to partner with a large national real estate company or a smaller North Carolina-local business, it’s important that they know what they’re doing. Make sure your prospective partner is well-organized, knowledgeable on local real estate trends and has a solid record of developing and selling multi-family developments in North Carolina.
2. They Cover Your Weaknesses – Whether you’re a novice to multi-family real estate development or you have years of experience, odds are that you’ll be more capable in some areas than others. Maybe you specialize in locating great land and designing attractive multi-family properties but you’re clueless when it comes to construction and property management. Or maybe it’s just the opposite, you know how to build a property and run it but you have no idea how to find the right location for one. Search for a company that specializes in the areas of real estate development where you struggle to make sure you have all of your bases covered.
3.They Have Local Experience – If your prospective multi-family real estate development partner has only just set up shop in North Carolina, that’s a big red flag. You want to work with a company that has years of experience in the state and has managed to stay afloat through ups and downs in the economy. The right real estate development partner should know North Carolina’s real estate market inside and out so that they can help you develop multi-family properties in the most desirable areas.
4.They Have Access to Good Land – Location is the key to multi-family development in North Carolina, so it’s vital that your real estate development partner has land in desirable locations throughout the state. The ability to develop multi-family property on quality land will allow you and your partner to quickly sell your developments at top-market value.
5.They Know How to Do It All – If you’re going to partner with a real estate company for multi-family development, they should know every step of the development process. That includes acquisition of land, financing, property design, construction, marketing and property management. Ideally, either they’ll be able to handle most of these services in-house or have good working relationships with another company that can perform them. If you find a prospective partner for multi-family development in North Carolina who seems confident in their ability to procure quality land but has no idea how to go through with developing it, you should seek out a more capable company.
The Top Multi-Family Development Company in North Carolina
If you’re in need of a multi-family real estate development partner in North Carolina, look no further than Catalyst Capital Partners. During our 35 years in business, we’ve acquired and sold more than 50,000 multi-family properties in the Southeast and beyond, totalling over $4 billion in value.
Our experience in the North Carolina real estate market is second to none.If you’re interested in forming a partnership with us to develop multi-family properties in Charlotte, Raleigh or anywhere else in North Carolina, contact Catalyst Capital Partners today!