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(Below is an article that came out today from Business Insider.  If you are interested in diversifying your investments with a rental property...or a few of them...please call me and we can have a discussion about it.  I "walk the walk" as I have some myself, in addition to owning a property management company.  Let's chat!  David DiGioia (704) 506-6434  David@SignWithAPro.com)

Sometimes a team can accomplish far more than a group of lone individuals. For example, cyclists in the Tour de France take turns riding at the front of their group, decreasing the wind for those behind them. Wolves hunt in packs to take down animals 20 times their size. And for those of us who were children of the '90s, we all remember Ducks Fly Together.

Related: 8 Ways Real Estate Is Your Smartest Investment

This brings up another team that can accomplish amazing things — not a team of people, but a team of benefits which, when combined, can help you achieve your greatest financial goals. Specifically, I want to talk about real estate.

I'm a real estate investor, and I firmly believe that real estate is the best traditional investment on Planet Earth today. However, just because you buy a piece of real estate doesn't mean you're going to make money.

As I explain in "The Book on Rental Property Investing," big wealth is built through real estate investing by capitalizing on something I call "the four wealth generators of real estate." Alone, each of these benefits can help you make more money, but together they'll make you rich.

1. Cash flow

Cash flow is the extra profit left over after all of the expenses have been paid on a property. For example, if my rental property produced $2,000 in income and my expenses came to $1,700, my cash flow would be $300 that month.

Now, I know a lot of you are saying, "Three hundred dollars is not going to make me a millionaire."

Probably not. But remember, we are just talking about one of the wealth generators. There are still three more to go!

Additionally, that $300 might be from just one property. If I owned ten similar units with the same cash flow, that's $3,000 per month. If I owned 100 units, that's $30,000 per month. This cash flow can go a long way toward helping you quit your job — or helping you save for a future big purchase, or retire wealthier.

2. Appreciation

When I talk about appreciation, I am not referring to how much I like you (though I do appreciate you!). I'm referring to the natural rise in value that real estate experiences. For example, if you purchased a property for $200,000 ten years ago, and today that property is worth $300,000, the appreciation made you $100,000 richer!

Of course, appreciation doesn't cause values to increase every year (consider 2007!). However, historically, real estate prices have appreciated over the long term. So, again, appreciation alone is not likely going to make you a millionaire, which is why I don't recommend that people purchase bad deals hoping that appreciation bails of them out.

However, appreciation is combined with the other "members" of the wealth generation team, powerful stuff can happen.

3. The loan pay-down

When you purchase a rental property with a mortgage, each month you make a payment to the lender. That payment includes two parts: principal and interest. Interest is the profit for the lender, but the principal is money you are paying down the loan with.

For example, if you purchased a house five years ago for $100,000 and obtained a $80,000 mortgage (we’ll say it was a 30-year mortgage with a 5 percent fixed rate), today you would owe only $74,000. Ten years from now, you would owe only $65,000. This means that every year your equity increased (equity is the difference between what a property is worth and what is owed on it), you'd gain value, as long as the property value didn't drop.

Of course, if you paid all-cash for a property and didn't obtain a loan, you would forfeit this wealth generator. This is something only you can decide.

4. Tax benefits

Finally, the fourth wealth generator in real estate is the tax benefits the U.S. government gives to investors. These benefits are numerous and realized in several distinct parts of the real estate process.

For example:

Unlike most businesses, the government doesn’t look at cash flow or appreciation as self-employment income; thus no self-employment tax is typically due.

The income tax that is due is often offset entirely by a deduction known as depreciation.

Additionally, when you sell rental properties, the profit is taxed at the long-term capital gains rate, if at all.

You can often defer any tax using a 1031 exchange offered by the government as a way to trade up into bigger or better properties.

The bottom line: If you make $100,000 per year from your job, your mom earns $100,000 per year from a business she owns and I earn $100,000 per year from real estate, who do you think keeps more? That’s right, I do.

Of course, I'm not a CPA, so you should definitely consult with one before making any financial or tax decisions.

Putting it all together: an example

As I mentioned, each of these wealth generators can be powerful in itself. However, putting the four together can make you exceedingly wealthy because of the synergy among them.

For example, you might purchase $1,000,000 worth of multifamily real estate with a $200,000 down payment. Let's assume this property produced $30,000 per year in cash flow, but it also might be increasing in value at 5 percent per year. This means that after 10 years, it could be worth $1.6 million, and you would have earned another $300,000 in cash flow.

On top of that, after those 10 years, that initial property could be paid down so that you owe only $650,000, giving you $1 million in net worth on that one property alone.

And to top it all off, the tax benefits during that decade would help you keep far more of that profit than had you earned it any other way.

Real estate is not the only way to get rich today, but it certainly is a simple one to understand, thanks to the four wealth generators of real estate.

Now that's a team I want to be a part of.

Is Buying a Fixer-Upper Worth It? by Scott Sheldon

by by Scott Sheldon / Credit.com

These days, true fixer-uppers are few and far between. A more exuberant housing market has severely depleted the post-recession inventory of foreclosures and distressed homes. Still, there’s a chance you’ll stumble upon a property whose appearance is not quite as dreamy as its price tag. Here are some things to consider if the affordable home you’re eyeing needs some work.

1. Location, Location, Location

The first thing to consider when buying a home is location. If you’re considering a home in a favorable location, don’t immediately be turned off if the property needs some work. Instead, determine if this work is cosmetic. Potential repairs indicative of a good value home include, but are not limited to:

  • landscaping
  • new roof
  • new appliances
  • new paint
  • updating the interior

These repairs can add up quickly, but are not fundamentally unsafe to live in. You want to avoid houses that need major structural work (which are more reflective of distressed sales properties which, remember, the market has very little of.)

2. Price vs. Cost Of Repairs

Making a low-ball offer on a house that needs a new roof, for example, might not be the best approach. The market might otherwise support the list price of the house, especially if there are other interested parties. All homes will need a new roof at some point. It’s one ulterior cost you will incur as a homeowner over the longer term.

Other repairs can hit your pocketbook. How bad are the repairs? Say the roof has an economic life of five more years. The price of the home is very affordable, and the front yard needs a bit more upkeep and the interior of the home is dated. Look beyond the cosmetic repairs. Is the home quiet? Does it have a big yard? What’s the neighborhood like? What is the school district like? Can you live in the property and make the repairs over time as your finances allow and permit?

If the answers to these questions are predominantly “no” it would probably be best to pass on the home, as you’ll probably be biting off more than you could chew. However, if you can make the repairs over time and the property is safe and inhabitable, the house may be worthwhile.

3. Taking Out a Construction Loan

Though not as popular as they were pre-housing crisis, construction loans allow you to finance the repairs of the property. Of course, you’ll need to be able to support your mortgage as well as the debt associated with the repairs. Construction loans also generally have tighter credit requirements — lenders typically look for good credit scores and require down payments of at least 20%.

You can see where you credit stands by viewing your two free credit scores each month on Credit.com

4. Lowering Your Down Payment

If the cost of the repairs of the property can be cash-financed, you always have the option of buying the house with less money down. Let’s say you’re buying a home and you have $50,000 for the down payment. The house needs repairs totaling $20,000. Instead of buying the home using $50,000 for the down payment, you use $30,000. The difference in the mortgage payment would be about $100 per month, depending on the house location and term of the loan.

Remember, the market for housing prices and interest rates will continue to evolve, changing your equity and potentially creating opportunities to re-structure your mortgage.

If you have the option to refinance in the future, you may be able to lower your payment or cash out your equity to replenish the cash put towards repairs. Still, avoid buying a home with the automatic expectation of refinancing in the future. Put simply, buy a home you can afford even if you cannot refinance later on.

Remember, houses can be money pits, especially re-sale homes over 25 years old. Consider working with a sharp real estate agent and loan professional to determine if a house that needs some work really makes sense for you.

Why it’s a sellers market in Charlotte real estate these days by ALLEN NORWOOD Correspondent/Charlotte Observer

by by ALLEN NORWOOD Correspondent/Charlotte Observer

Someone asked the other day how much below the asking price homes in this market typically sell for. I said about 5 percent, which I’ve heard for years. In other words, on average homes close for about 95 percent of listing price.

I checked the most recent report from Carolina Multiple Listing Services, and sure enough: The average sale price last month was 94.7 percent of the average listing price, which is 95 percent if you round up just a little.

Last year, the figure was 93.6 percent in January, hit 95.5 percent in July, then held at 95 percent in November and December.

I was feeling pretty good about my reply.

To paraphrase H.L. Mencken, for every question there is an answer that is clear, simple and wrong.

The problem isn’t the percentage, I learned – it’s the “on average.”

“I almost hate to talk about it in general terms,” said Maren Brisson-Kuester, president of CMLS and the Charlotte Regional Realtor Association. “It’s just so specific to neighborhoods, and even to streets.”

The statistics don’t lie, she said, but they can be misleading.

Easy to see that both buyers and sellers have an interest in the matter. Buyers want to know what a reasonable offer might be, and sellers want to know much they might expect to come down from their asking price.

But there’s no one-size-fits-all answer.

Just as you can drown in a stream that averages 6 inches deep, to paraphrase another adage, you can miss opportunity if you assume a ratio of 95 percent in your situation, whether you’re a buyer or seller.

Buyers won’t get the homes of their dreams in some neighborhoods if they offer 95 percent of listing price, said Brisson-Kuester, who’s with CottinghamChalkHayes. “In Myers Park, it’s almost 100 percent right now. In my neighborhood, Quail Hollow Estates, it’s 97 percent.”

That 94.7 percent figure from the recent report is the average for the entire MLS. But the averages for Charlotte and Mecklenburg County are above 96 percent – and the Lake Wylie market is still higher.

The same report shows other areas below the average for the regional MLS. Go towww.carolinahome.com and click on Market Data for the full report.

So, why is that ratio of closing price to listing price included in the sales data?

Some who use the data – relocation companies, for instance – want to see the figure. But mostly, Brisson-Kuester said, it’s another of the broad measures of market activity. Like average days on the market, and the months’ supply of homes on the market, it helps fill in the picture of the balance between supply and demand.

When the market was struggling to recover from the downturn, the ratio was well below 90 percent. My answer would have been way off the mark.

As it pushes past 95 percent and closer to 100 percent? “It shows you have a strict sellers market,” Brisson-Kuester said. “The buyer has no leverage.”

Next time I get that question I think I’ll just answer, “It depends.”

Allen Norwood: homeinfo@charter.net

 

 

 


Read more here: http://www.charlotteobserver.com/living/home-garden/allen-norwood/article59747651.html#storylink=cpy

Read more here: http://www.charlotteobserver.com/living/home-garden/allen-norwood/article59747651.html#storylink=cpy

 

Mortgage applications are up, up, up, as homeowners try to save some of their hard-earned cash through refinancing their loans.

The number of mortgage loan applications surged 8.2% last week over the first week of the month, as interest rates fell on 30-year fixed-rate mortgages to lows between 3.74% and 3.83%, according to the Mortgage Bankers Association

Refinance applications made up the bulk of the total applications, rising to 64.3% from 61.2% the week earlier. The numbers are adjusted to compensate for normal seasonal variations.

“Refinance applications are extremely sensitive to rates,” Mike Fratantoni, the trade group’s chief economist, said in a statement. “With rates falling to their lowest level in over a year, there is no surprise that refinance applications would increase.”

Even small rate changes can amount to appreciable savings for homeowners. For example: Shaving just half a percentage point off the interest of a $200,000 30-year-fixed-rate mortgage could, in some cases, save a homeowner about $56 a month, says Matt Graham, chief operating officer at the publication Mortgage News Daily.

Average interest rates for 30-year fixed-rate mortgages for loan balances of $417,000 or under fell to 3.83%—their lowest levels since April 2015, according to the association. Interest rates for loans of more than $417,000 fell to 3.74%, the lowest they’ve been since December 2012.

Meanwhile, average rates for 15-year fixed-rate mortgages dropped to 3.11%, while for 5/1 adjustable-rate mortgages (for which the rate is locked in for the first five years, then reset each year) the initial rates fell to 2.92%, according to the association.

Rates are actually lower now than after the Federal Reserve raised them a quarter of a percentage point in December, says mortgage lender Elysia Stobbe of NFM Lending in Jacksonville, FL. “That’s pretty ironic.”

But just because interest rates are down doesn’t mean homeowners should race to refinance, she says. Stobbe recommends that those looking to save a few bucks seek out a licensed financial professional to review their current situation.

Closing costs on the refinancing—which in extreme cases can top $10,000—can sometimes eat up any potential savings.

“It’s not a simple science,” says Stobbe, the author of “How to Get Approved for the Best Mortgage Without Sticking a Fork in Your Eye” (really!). “Closing costs for a refinancing vary in every city and state and depend on the price of the loan and the size of the loan.”

The Most Common Questions Asked by Home Sellers—Answered! By Margaret Heidenry / Realtor.com

by By Margaret Heidenry / Realtor.com

Selling a home you’ve lived in and loved over the years isn’t exactly like unloading your collection of old Slayer LPs on Craigslist (or is it…?). It’s hard. It’s emotional. And above all else, it’s complicated. A slew of questions will likely pop into your head throughout the process—and possibly keep you up at night.

Last week, we revealed the most common questions asked by home buyers. Since people on the other end of this deal have a lot on their minds, too, today we’ll tackle the most common questions that real estate agents hear from sellers—along with some answers, of course.

Q: How much needs to be done to my house before putting it on the market?

“Many sellers have extreme anxiety over the thought of having to clear out and fix up their home, so much so that it can prevent them from putting the place on the market in the first place,” says Alyssa Blevins with Pierce Murdock Group. But in most cases, there’s no need to panic here—or to overshoot your goals. “Very often, there’s far less to do than homeowners think.” So before spending months and millions (figuratively) upgrading your place—or just throwing up your hands and giving up before you begin—show your home to a Realtor®. You might be pleasantly surprised by your current sales prospects.

Q: How much is my house worth?

While the median house price in 2016 is $228,000, the exact price of your own home will depend on its size, neighborhood, and lots of other factors. Further complicating matters is your own skewed perspective: We tend to mentally inflate our home’s positives and airbrush out the flaws that are all too apparent to the cold, calculating eyes of buyers. “People always seem to compare their house to the most expensive sale in the neighborhood,” says Mary Ann Grabel, an agent at Douglas Elliman in Greenwich, CT. Instead, look at the prices of similarly sized homes that have recently sold in your area—data that agents call comparative market analysis, or “comps.” Then, price your place strategically. “If you price too high, the home is likely to linger on the market,” says Grabel. Meanwhile, pricing low can have major upsides, resulting in multiple bids that could ultimately jack up your price. So, do your homework. Then, discuss a number with your Realtor that feels right—and is realistic.

Q: How long will it take to sell my home?

Right now, nationally, houses spend around 100 days on the market before they sell, although the time varies wildly based on area and price. So, price competitively and make sure that you and your Realtor are getting the place in front of as many eyeballs as possible. “The higher the exposure, the faster the offers,” says Felise Eber, a real estate associate affiliated with Coldwell Banker Residential Real Estate and part of the Miami Beach luxury real estate sales team The Jills. Spread the word through your own social networks——real ones and virtual ones. You never know whose passing it along to that special someone will lead to a sale. 

Q: Is staging really important?

On average, a staged home sells 88% faster—and for 20% more money—than a home that’s left as is. The reason it works, of course, is it gives buyers a “stage” onto which they can play out their home-owning fantasies and envision themselves living in your home. “Choose neutral paint colors and remove any family photos,” says Johnson. Give would-be homeowners a blank canvass that they can mentally fill with their loved ones and themselves.

Q: Should I be present when buyers view my house?

“NO!” says Johnson. (Hey, no need to shout. We’re right here!) “There is not any situation in which this is appropriate. Having the owner in the house makes the buyers uncomfortable. They feel as though they can’t make comments or ask questions that could be offensive. The owner—who has a history and attachment to the house—has the tendency to argue if a potential buyer makes a comment that could be a little negative. This can turn off buyers and lose you offers.” Got it.

Q: What is the agent’s commission?

While the commission can vary, it is typically 6% of a home’s sale price—and that’s usually shared with the buyer’s agent. But what’s implied by this question is “What are Realtors doing to earn that fat check?” Here are some facts to keep in mind: Unlike lawyers who get paid by the hour, or doctors who are paid by the appointment, listing agents don’t get paid unless they make a sale. For every hour an agent spends with a client, he or she will typically spend nine hours on average working on that client’s behalf doing everything from networking to finding potential buyers to filling out paperwork. And no, not all agents are created equal. Since most contracts last for a year, Realtor Susan Ratliff recommends that sellers “interview three agents prior to selecting one to represent them. It’s no different from choosing an attorney, accountant, or the doctor who will deliver your baby. You want to be sure that you trust that person and are comfortable with them.”

Amen.


Bank of America’s Newest Mortgage: 3% Down and No FHA

by Joe Light / Realtor.com

Bank of America Corp. is rolling out a new mortgage product that would allow borrowers to make down payments of as little as 3%, in a move that would represent an end run around a government agency that punished the bank for making errors on similar loans.

The new mortgage program, which the Charlotte, NC-based lender plans to unveil on Monday, will let borrowers avoid private mortgage insurance, a product to protect mortgage lenders and investors that is usually required for low-down-payment loans.

That could make the new loans cheaper than those offered through the Federal Housing Administration, the government agency that has won big settlements from banks in recent years for what the lenders describe as minor errors.

The FHA does not make loans but insures lenders against default on mortgages that can have down payments of as little as 3.5% and a credit score of as low as 580, on a scale of 300 to 850. When lenders make the loan, they have to certify that everything in a loan file is accurate.

Bank of America’s new mortgage cuts the FHA out of the process. Instead, the new loans are backed in a partnership with mortgage-finance giant Freddie Mac and the Self-Help Ventures Fund, a Durham, NC-based nonprofit.

Bank of America agreed to pay $800 million to settle claims of making errors on FHA-backed loans in 2014. This month, Wells Fargo & Co. said it would pay $1.2 billion to settle similar claims, joining J.P. Morgan Chase & Co., which settled in 2014, and other big lenders which have settled over the past few years. Nonbank lender Quicken Loans Inc. is currently fighting such claims.

Many big banks have pulled back sharply from FHA-insured lending in the past few years, citing the risk of being hit with penalties for minor errors. A raft of nonbank lenders have rushed in, but the banks’ retreat from the program has made it more difficult for low-income borrowers to get home loans.

“We need an alternative in the marketplace that helps creditworthy borrowers with a track record of paying debts on time,” said Bank of America managing director D. Steve Boland, who noted that “We think there are still a lot of uncertainties out there in working with FHA.”

After making a mortgage under the new program, Bank of America will sell it to Self-Help, which then sells it to Freddie Mac. If a mortgage defaults, and Self-Help isn’t able to recover the full amount owed, Self-Help takes a big chunk of the losses before Freddie Mac starts to take a loss, which lets borrowers avoid paying mortgage insurance.

Self-Help also gives counseling to borrowers who struggle to pay, which it believes will help more people avoid foreclosure.

“We believe the mortgage-lending sector is underserving families of modest means,” said Self-Help CEO Martin Eakes. Eakes said his fund is in talks with other large and small lenders to roll out similar programs.

Eakes said Self-Help didn’t need new funding for the Bank of America program, but in the past the organization has received funding for other loan programs from foundations, the government and companies.

Eakes is also CEO of the Center for Responsible Lending, a nonprofit advocacy group for borrowers that in the past has also asked the FHA to limit lenders’ damages for some errors.

To get the loans under Bank of America’s new program, borrowers must have a credit score of at least 660, which is higher than FHA’s requirement, and an income that is less than the area’s median.

Bank of America said that for now it is capping loan production at $500 million annually under the program and that it expects that three out of four mortgages in the new program would have otherwise been backed by the FHA.

Last year, Bank of America made $1.36 billion in FHA-backed loans, according to trade publication Inside Mortgage Finance, making it the 22nd biggest FHA lender. The bank used to be in the top 10.

Freddie and competitor Fannie Mae in 2014 said they would roll out mortgages with down payments of as low as 3% to improve mortgage availability for low-income borrowers. But because the mortgages often cost more than FHA-backed loans, the programs had little volume last year.

As lenders become more wary of the FHA program, lenders and Fannie and Freddie executives said that their programs’ volume could rise.

In October, Quicken Loans, which is in the midst of FHA-related litigation, announced a partnership with Freddie to originate more Freddie-backed low-down-payment loans.

“Many lenders, including us, are looking at the Fannie and Freddie programs as an alternative to the FHA,” said Quicken CEO Bill Emerson.

Bank of America says that for a borrower with a $150,000 mortgage, a credit score of 680 to 719 and a 3% down payment, the monthly cost of the new mortgage would be about $782. A comparable FHA borrower with Bank of America would pay $887 a month, the bank said.

The FHA has been working for months to attempt to clarify the liabilities lenders could face when making an FHA-backed mortgage, including changing the certification that lenders must make in order to limit major penalties. An FHA spokesman said that the agency plans to unveil the final version of the certification by the spring.

 

by Joe Light / Realtor.com


Move over, Thunder Road. Charlotte’s marathon has a new name (By Corey Inscoe/Charlotte Observer)

by By Corey Inscoe - January 15, 2016 (Charlotte Obs

See ya later, Thunder Road. The city’s marathon is getting a new name.

The marathon announced (this morning) that it’s changing its name to the Novant Health Charlotte Marathon, ditching the Thunder Road name that it had in its first 11 years of existence.  

Why?

“We have always been proud to be Charlotte’s marathon, and what better way to honor our hometown race than by naming it after our great city,” Race Director Tim Rhoades said in a release.

Also, branding. Think about other big cities: The Boston Marathon, the New York City Marathon, theChicago Marathon, the Myrtle Beach Marathon. (What, you think Myrtle Beach doesn’t belong on that list?) With this change, the city’s name is linked to the big race in a way it wasn’t before.

The slogan — “Our Streets. Our City. Our Marathon. #runcharlotte” — reinforces the idea that organizers are really trying to brand this as a distinctly Charlotte thing.


So what’s changing?

The name, really. That’s about it.

The event still has a marathon, half marathon, 5K, marathon relay and 1-mile kids fun run.

It’s still a Boston Marathon Qualifier.

It still winds through uptown, Dilworth, Myers Park South End, NoDa, Plaza Midwood and Elizabeth.

The marathon is still 26.2 miles, which is still a long way.

Why was it named Thunder Road in the

first place?

Organizers of the marathon asked for name nominations from the community and Thunder Road won the naming contest, according to Ashleigh Lawrence, creative brand manager of the Charlotte Marathon.

“While it’s a tip-of-the-hat to Charlotte’s rich stock car heritage, it also represented the high energy and excitement you would find at an event like a marathon,” she said.

Should I run in it?

Hey, that’s up to you.

We’ve written about what to expectwhat to look forhow to watch it, and who you’re probably going to lose to, so you should be able to make an informed decision.

If you want to run, the Charlotte Marathon is Nov. 12. Register at www.runcharlotte.com.

 

Photos: Courtesy of Jenni Walker/Charlotte Marathon; John D. Simmons/Charlotte Observer

 

Could all Charlotte schools really run on just solar power? By CharlotteFive Staff - February 4, 2016

by By CharlotteFive Staff - February 4, 2016

Imagine every Charlotte-Mecklenburg School running on solar power. Is it even possible? Repower Our Schools says yes.

Repower Our Schools, a coalition of parents, teachers and students, formed a year ago and commissioned a study of solar power at CMS and Durham’s public schools by the Clean Energy Technology Center at N.C. State University. The results were announced at an event uptown Wednesday.

What the study found:

– CMS spends $18 million a year on electricity, nearly all of it generated by nuclear power and fossil fuels.
– Solar arrays on rooftops and in parking lots could meet all of CMS’ energy needs.
– Grid-connected solar arrays could save CMS $42 million over 25 years through a financing arrangement between schools and investors. (Essentially, the investor would claim solar tax credits to lower the cost of the project, then after about seven years the partnership would flip and the school would get sole ownership. Power sold back to a utility brings in revenue.)

Why hasn’t this already happened?

Too expensive in the past. There was an effort in 2009 to build a utility scale solar installation, but high costs stalled it.

CMS is using some solar power, though. The district owns three small solar arrays and many schools have earned the federal Energy Star certification for energy efficiency.

So what’s next?

CMS has the report and they’ll give it a look, see if/how they want to move forward.

“We’re eagerly awaiting what they think,” said Michael Zytkow, a field organizer for Greenpeace North Carolina.

“We’ll have to determine how (solar) fits into our long-term strategy and what makes sense,” said Phil Berman, executive director of building services for CMS.

C5’s take

Like it or not, an argument based around saving money seems a lot more powerful than one just about helping the environment.

Photo: David T. Foster III/Charlotte Observer; Bruce Henderson/Charlotte Observer

Phoenix-based waste removal company to create 350 jobs in Charlotte

by BY KATHERINE PERALTA kperalta@charlotteobserver.co

Republic Services will open a customer service center

The Fortune 500 company will invest $6.8 million over 3 years

The company has leased 82,375 square feet at 10815 David Taylor Drive


Read more here: http://www.charlotteobserver.com/news/business/article59749356.html#storylink=cpy
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 


Republic Services said Thursday it will open a customer service center in Charlotte, investing more than $6.8 million and creating more than 350 jobs over the next three years.

The company has leased 82,375 square feet at 10815 David Taylor Drive, according to a memo from the Charlotte Chamber.

The Phoenix-based Fortune 500 company specializes in collecting solid waste and recycling for commercial, industrial, municipal, residential and oilfield customers, according to the statement. It serves customers in 39 states.

Republic Service’s Charlotte center will facilitate outbound and inbound communication with customers over the phone or Internet. Jobs will include sales professionals, quality assurance specialists and customer care consultants. It will serve all types of customers, including businesses, schools, hospitals, municipalities and residents.

Republic Services plans to be fully operational by Sept. 1 this year, said Joe Burkel, the company’s senior vice president of customer experience.

“North Carolina is pleased to welcome another Fortune 500 name to its corporate roster along with the hundreds of new jobs it plans to bring our economy,” Gov. Pat McCrory said.

An incentives grant from the One North Carolina Fund of up to $216,000 helped land the project. It’s performance-based, meaning Republic Services must meet job creation and capital investment targets before it receives any of the funds.

 

Written by BY KATHERINE PERALTA


Read more here: http://www.charlotteobserver.com/news/business/article59749356.html#storylink=cpy

 

JOBS AND POPULATION DRIVING CHARLOTTE OFFICE

by Dees Stribling, Bisnow, National

Written by Dees Stribling, Bisnow, National 

As companies relocate here—looking for a business-friendly climate and Millennial talent—Charlotte remains one of the growth hubs of the Carolinas. That's leading some companies to make plays at creative office product. That's why we're excited to present our Charlotte State of the Market event on Feb. 25 at the Fillmore Theater.

Following a strong year of job growth in 2015, there will be continued solid job and population growth in the Charlotte metro, Federal Capital Partners VP Bryan Kane, who will be one of our speakers, tells us. That bodes well for this year, as the trend will lead to increasing commercial demand among both tenants and investors.
FCP's also been quite active in the Carolinas recently, including the $18M acquisition last month of the 85k SF Venable Center in Durham, a creative office, retail and lab space comprised of three restored historic tobacco mill office buildings. The property is 99% leased, with tenants that include Precision Biosciences. Join us for our Bisnow Charlotte State of Charlotte event on Feb. 25 beginning at 7:30am at the Fillmore Theater.

Read more at: https://www.bisnow.com/charlotte/news/commercial-real-estate/charlotte-a-magnet-for-companies-heres-why-55965?utm_source=CopyShare&utm_medium=Browser
 


 

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David DiGioia
Realty Executives Unlimited
17718 Kings Point Dr, Suite B
Cornelius NC 28031
704-506-6434
Fax: (866)476-8652