Charlotte's transformation from a mid-sized Southern city to a booming metropolis reveals itself through the experiences of those who've witnessed it firsthand. Mike Sposato, owner of Carolina Realty Advisors, shares his remarkable journey from corporate burnout to real estate entrepreneur – a path sparked by his own negative experiences as a first-time homebuyer in the 1990s.
"The first three properties that I purchased, unfortunately, I had some pretty bad experiences with real estate agents," Mike reveals, detailing how one agent never disclosed they represented the seller, leading him to overpay significantly compared to his neighbor with an identical property. This frustrating experience became the foundation of his business philosophy: "The right real estate advice makes all the difference."
With nearly 25 years in the industry, Mike offers a unique perspective on Charlotte's evolution. He's watched the city climb from roughly the 45th largest in America to the top 15, with neighborhoods like South End expanding so rapidly they've spawned new sub-districts. Unlike many specialists who focus narrowly on specific areas, Mike handles both residential and commercial transactions across both Carolinas, including waterfront properties on the region's popular lakes.
The current market presents fascinating challenges. Many homeowners with mortgages at historically low rates (2.5-4%) are reluctant to sell, limiting inventory and pushing buyers toward new construction on Charlotte's periphery. However, Mike predicts interest rates dropping below 6% by mid-summer, potentially stimulating more movement. Beyond his business success, Mike's community involvement – particularly helping bring the Charlotte Knights baseball stadium to uptown as president of the Third Ward Neighborhood Association – showcases his commitment to the city's growth.
Ready to explore Charlotte's real estate opportunities with an advisor who truly understands the market's past, present, and future? Connect with Mike Sposato and discover how the right guidance can transform your next property transaction.
Carolina Realty Advisors
Mike Sposato
(704) 619-7070
mike@carolinarealtyadvisors.com
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
is the Good Neighbor Podcast, the place where local
businesses and neighbors cometogether.
Here's your host, Regina Lee.
Speaker 2 (00:08):
Hello everyone and welcome to another episode of
the Good Neighbor Podcast.
I'm here in the Charlotte area,my favorite thing to do is talk
with local business owners, andI had the pleasure of meeting
Mike Sposato a few months ago,and I invited him to the show
because not only is heinteresting, but he's also a
great person.
(00:29):
Welcome, mike.
Speaker 3 (00:31):
Thanks for having me how you doing.
Speaker 2 (00:33):
Absolutely so.
I know you are the owner ofCarolina Realty Advisors and I
would love for you first to tellus how you got into real estate
in Charlotte.
Speaker 3 (00:47):
So when I first moved to Charlotte this has been a
while, 1996.
And when I first came into townI had a business to business
sales job that I really likedand did well with and learned a
lot, which is one of thefoundations of how I got into
real estate.
But I learned a lot about, youknow, everything from sales
(01:10):
marketing, advertising,accounting, business management,
sales management, all thesesorts of things.
And as I was learning in thisjob I did fairly well and was
able to start buying a smallrental portfolio of properties
around the city.
And you know, over time I justyou know, with everything I'd
(01:33):
learned, I kind of figured well,I could probably do my own
business, start my own business,and why am I making all this
money for this big corporation?
And so it just got to a pointwhere the burnout factor in
corporate America was kicking inand I was like you know what?
Now's a good time to get intoreal estate.
But the real underlying reasonwhy I got into real estate was
(01:56):
on the first three propertiesthat I purchased.
Unfortunately, I had some prettybad experiences with real
estate agents, the first onespecifically.
It was interesting because backin that time there was really
no Internet marketing.
You didn't go online to findlistings.
You would either drive by alisting, go to an open house or
(02:19):
maybe go to a real estatecompany and see which listings
they had.
It was a completely differentway that you go about buying
real estate company and seewhich listings they had.
It was a completely differentway that you'd go about buying
real estate at that time.
And so I happened to be, youknow, I was told by one of my
customers from corporate America.
They're like oh we're, we'rebuilding some properties down
near Panther stadium.
And if I were you as a younger,you know, single guy, I'd go
(02:41):
buy property down there Causeit's probably going to be a
great investment.
And I'm like okay.
So I drove by, I saw a sign,you know, for sale sign.
I called the number and thensomeone came out and met me at
the property.
Well, I didn't know any betterbecause it was my first time
buying.
So I, this agent, was asking mea lot of questions and I
(03:01):
thought they were appropriatequestions and you know I
answered them all and told herprobably too much about my
motivation, my financing, mycredit, how much I liked the
property, et cetera, and when Iwent to make an offer on the
property.
It was weird because there wasno negotiation whatsoever, none,
(03:22):
zero.
Like I'd tell my agent what I'dlike to accomplish, nothing
would happen.
I'd suggest it again.
It was the seller wouldn'tbudge phase forward.
A couple months later, after I'dmoved in, um, I got to know one
of my neighbors and stopped bytheir place.
They had the exact same floorplan that I had, literally same
(03:43):
everything.
And we started talking and hewas like well, if you don't mind
me asking, how much did you payfor your property?
And I was like I paid 203.
And he's like you paid thatmuch.
I'm like, yeah, why?
How much did you pay?
He said I paid 185.
I was like, well, how can I be?
He's like well, didn't you haveyour own realtor?
I was like I thought I did andwhat I had was somebody who was
(04:06):
representing the seller andnever disclosed that.
To me that was obviously theworst one and that was the big
impetus of why I got into realestate back in the day and why
we call our company CarolinaRealty Advisors, because I've
come to learn that not allrealtors are the same and our
(04:29):
company slogan is the right realestate advice makes all the
difference for our clients andit truly does so.
I'm a big advocate of the lawof agency now and representing
people properly and disclosingall the information that they
need to know about and makingsure they understand that I'm on
their team.
I'm not representing the otherparty and a slew of other things
(04:51):
like that, but that's why I gotinto real estate and it was
very important for me back then.
It's still very important forme today.
Speaker 2 (05:01):
Well, I know education, you know you know a
lot about the city and you knowa lot about your industry.
So that's amazing.
So you live close to the uptownarea.
What are you seeing in thatmarket?
What are some of the trends?
Speaker 3 (05:15):
Well, I mean that's a really good question, you know.
I mean South End is booming andgrowing like crazy, and so much
so that they've got littlenicknames for it to just be the
South End.
Now it's low, so lower SouthEnd, and they're expanding
through other immediateneighborhoods, and so you know
kind of what you would expect.
(05:36):
I mean, when I first got into,you know, moved to Charlotte 96
I think we were like the 47th or45th largest city and from what
I understand, now we're in thetop 15 largest cities.
And so as you would think, ouruptown area is just booming,
growing A lot of you know sprawl.
Unfortunately, there's a lot ofapartment buildings.
(05:59):
I'm not a big advocate of those, just because I'd rather see
people be stakeholders in theirown neighborhood and have that
pride of ownership versustransient in and out of you know
apartments here and there.
But you know it's all in allthings are.
You know they're going verywell.
Speaker 2 (06:19):
It's very, it's incredible.
The growth yeah, I think theword is out.
Charlotte is a great place tolive and you know, with the
lakes and everything we havegoing, what do you think have
been the keys to your success insuch a competitive industry?
Speaker 3 (06:35):
Great question too.
I think it all starts with theway that we approach business.
I mean, we are brokers, youknow, I want to make that very
clear to your listeners.
We are real estate agents andreal estate brokers.
We buy and sell real estate but, that being said, taking the
advisory approach on the frontend, getting to know our clients
(06:58):
, getting to understand theirunique situations, checking to
make sure there's a good fit towork together, you know, when I
say fit, I mean you know, in ourinitial interviews, do we like
each other, do we trust eachother, do we feel like we could
work well for a period of time?
Because when you buy or sellreal estate it's not lickety
split.
It's typically going to beanywhere from you know, a
(07:20):
minimum of, you know, two tothree months, and sometimes it
can be.
I just had a client I wasworking with for 16 months
before they purchased and closedon the property, and so I think
, just initially approachingpeople with a curious mindset
and checking to see if we align,you know, with how we want to
(07:42):
do business together, that's thebig starting point and from
there, the 20, almost 25 yearsexperience I have, I think,
benefits a lot of my clientsjust knowing what to do, when to
do it, how to do it, where todo it.
That's going to benefit themthe most and get them the result
they want when they're buyingand selling real estate.
Speaker 2 (08:03):
Do you work with many people that are relocating here
or most of your clients,already residents of the area?
Speaker 3 (08:12):
Well, you know, we do a lot of marketing and with
that we have a lot of out ofstate people that come here all
the time.
In fact, I've got three of themunder sales contracts to close
in the next like two weeks.
That's just me personally.
(08:32):
Our company has several more,of course, and I have a whole
slew, I mean gosh, I'd say mypipeline.
I probably have 45 or 50 buyersright now at the moment, of
which, I'd say, 65% of those are, you know, from out of state,
or they move from out of state,or currently renting short term
(08:54):
before they buy.
So it's a.
It's a lot of new people thatare moving to the area, for sure
.
Speaker 2 (09:00):
What are they looking for when they come here?
Speaker 3 (09:05):
Well, you know, it all depends on the person.
You know, if it's a younger,maybe first-time buyer they
don't have to be young to be afirst-time buyer but if they're,
you know, that type of buyer,they're looking a lot of times
for a good investment, goodlocation.
(09:27):
If they're still out and aboutand wanting to go do a lot of
things socially, they may want alocation closer into the city,
whereas I have other clientsthat come in that they've got
larger families.
They might want to live indifferent areas and everybody's
(09:48):
different, you know.
So it really depends.
Schools are very important,commute to work is very
important.
Safety is very important, youknow, making sure that they get
a really good deal on theproperty they're buying, or
within reason, and they're notoverpaying or being taken
advantage of by somebody who'snot looking out for their best
(10:10):
interests.
Yeah, and you are licensed inNorth and South Carolina,
correct, I am licensed in Northand South Carolina and I also do
residential and commercial.
So I'm kind of a needle in thehaystack type of broker.
There's most people in myexperience if they're in
residential they may even be I'min resident.
(10:33):
Let's just say they say, ok,I'm in residential but I only
work in Valentine, or I'm inresidential and I only work in
South Park, which limits theirincome ability and really limits
(10:53):
what they can do.
In terms of what we do and whatI do, you know I specialize a
lot on, you know, waterfrontproperty because I spend a lot
of time up on the lakes whenit's, you know, when the
weather's right, I'm on the boatall the time with clients and
friends and you know so, eitherLake Wiley, lake Norman and even
up to Lake Hickory.
But I also do, like I wassaying, commercial work.
So I've got a lot of commercialspace right now that I'm
(11:16):
representing a landlord on interms of leasing, buy and sell
commercial space.
Do restaurants and bars,industrial, flex space, you know
it really.
Again, it goes back to theoriginal thing we talked about.
Is there a fit?
Do we like each other?
Do we want to work together?
Because if we do, I've got thebackground, the education and
(11:39):
the skill set to help my clientsdo almost any kind of real
estate transaction they want todo within a 75 to 100 mile
radius of Charlotte.
Speaker 2 (11:51):
That's incredible.
Where do you see the marketgoing in Charlotte Up?
Speaker 3 (11:57):
up up Simple.
Speaker 2 (12:01):
Still more.
Speaker 3 (12:02):
Yeah, I think that we have plenty of room to grow
Rates as of right now.
I mean today's, what, april 8th?
With things that are going onin the macro economy, mortgage
interest rates have startedcoming down, as we all hoped.
There's more buyers starting topop up in the marketplace
(12:25):
versus people that have beenholding on the one.
You know bad thing.
It's a good thing for thepeople, but bad thing for the
market.
You know bad thing.
It's a good thing for thepeople, but bad thing for the
market.
There's a lot of folks out therewho have interest rates in the
two and a half three, three anda half four percent range that
they got years ago and theydon't want to sell those houses.
And I don't blame them, in factI have several myself but
(12:48):
without selling those houses,the only inventory that
typically is coming on is goingto be new construction, which is
going to be usually out on theperimeter of 485 and some places
even a little bit further awayfrom the city.
Now, of course, there's goingto be regular resales because
things happen in life.
People get their job relocation, or their families grow, or
(13:12):
their families shrink and nowthey're an empty nester.
So there's reasons that peoplewill sell.
But there's a lot of people dugin on those, you know 3%, 4%
rates and are like, well, if Isell this house and the rates
are.
But the good news is is itlooks like probably by
mid-summer we might be in alower than six.
(13:32):
You know five and a half, fiveand three quarter interest rates
, which are really, really goodand that should spur a lot of
movement.
Speaker 2 (13:39):
Well, that's exciting , excellent news.
So I know you're involved inyour community.
Share with us a little bitabout what you do.
Speaker 3 (13:50):
Well, you know, when I had more time, now that my
company's grown and you knowbeing involved with our
(14:18):
homeowners association as apresident of the board.
But probably the biggest thingthat I did you know this was
years ago, but I was presidentof the Third Ward Neighborhood
Association in Uptown and we dida lot when I was president a
lot of little projects, fromrenaming street signs to, uh,
(14:41):
backward Fraser park is.
We had an opportunity to like,repave the basketball courts,
had them repainted, doing treeplantings, all that.
But the biggest, biggest thingthat we did, um did and that I
was involved with was helpingthe Charlotte Knights move into
Uptown, which was reallyinteresting.
(15:02):
Through that process I got tosee behind the scenes of the
political circus, if you want tosay where people are, even
though it's a great idea nowthat we have the baseball
stadium uptown, all the growththat's come because of the
stadium.
But there was politicians backthen that didn't want to do it
because you know they're reallylooking for favors before they
(15:25):
would say, okay, it's good,let's do this.
But it was a long process.
Got to meet a lot of greatpeople, you know.
But because it came into ourneighborhood in the third ward
and I was president of the thirdward at that time.
I had a lot of involvement inyou know meetings and things
that really were educational andhelpful.
(15:47):
But the bottom line is we havethe Charlotte Knights in the
third ward, right next toPanther Stadium, and it's great
to live in the third ward and beable to walk to you know a
hundred outdoor sporting eventsin a year.
It's a lot of fun.
It's worth it.
Speaker 2 (16:03):
That is an amazing story.
Well, you've got a very fullprofessional life.
If you look back, what are youmost proud of?
Speaker 3 (16:15):
Jeez, that's a great question.
I might have to table that onefor a little bit Well.
Speaker 2 (16:21):
you've done so much I know, even early before, while
you were in school.
You know an athlete and some ofthe things you accomplished
with the Leadership Academy.
You've been an entrepreneur fora long time.
Speaker 3 (16:36):
Yeah, I mean, I think it's just in my blood.
You know, always just driventype A personality and just you
know, go, go, go and push, push,push and have fun doing it.
You know, it's just me.
Speaker 2 (16:49):
What do you do for fun?
Speaker 3 (16:51):
Well, during, you know, the spring, summer and
early fall, I love being on thelakes, so boating, being on the
lakes, having fun.
I have a house down at thebeach in Garden City Surfside,
you know, myrtle's Inlet area,so from time to time I go down
there.
But I also love to travel.
(17:13):
I love going to costa rica.
I've been kind of setting up aside business down in costa rica
with some of the friends I'vemet through the years and in
fact I'm going to be headingdown there pretty soon, next
couple of weeks, and uh, it'sjust, it's just an outlet to go
down and do things likeexcursions, you know, deep sea
fishing, snorkeling, you know,riding side by sides through the
(17:36):
rainforest and just doingreally cool adventure type stuff
that I like to do.
Speaker 2 (17:42):
Well, when you launch that, we'll have to do another
podcast and tell us what you'redoing.
Speaker 3 (17:47):
There you go.
Yeah, absolutely I'd love to.
Well, Mike, it's been apleasure.
Speaker 2 (17:52):
You are so knowledgeable and I so
appreciate you joining us todayand giving us all the
information you just shared.
Speaker 3 (18:00):
Thank, you, you got it.
Thank you for having me.
I appreciate it.
Speaker 1 (18:04):
Thank you for listening to the Good Neighbor
Podcast.
To nominate your favorite localbusinesses to be featured on
the show, go toGNPSouthCharlotte.
com.
That's GNPSouthcharlotte.
com.
That's gnpsouthcharlotte.
com, or call 980-351-5719.
is the Good Neighbor Podcast, the place where local
businesses and neighbors cometogether.
Here's your host, Regina Lee.
Speaker 2 (00:08):
Hello everyone and welcome to another episode of
the Good Neighbor Podcast.
I'm here in the Charlotte area,my favorite thing to do is talk
with local business owners, andI had the pleasure of meeting
Mike Sposato a few months ago,and I invited him to the show
because not only is heinteresting, but he's also a
great person.
(00:29):
Welcome, mike.
Speaker 3 (00:31):
Thanks for having me how you doing.
Speaker 2 (00:33):
Absolutely so.
I know you are the owner ofCarolina Realty Advisors and I
would love for you first to tellus how you got into real estate
in Charlotte.
Speaker 3 (00:47):
So when I first moved to Charlotte this has been a
while, 1996.
And when I first came into townI had a business to business
sales job that I really likedand did well with and learned a
lot, which is one of thefoundations of how I got into
real estate.
But I learned a lot about, youknow, everything from sales
(01:10):
marketing, advertising,accounting, business management,
sales management, all thesesorts of things.
And as I was learning in thisjob I did fairly well and was
able to start buying a smallrental portfolio of properties
around the city.
And you know, over time I justyou know, with everything I'd
(01:33):
learned, I kind of figured well,I could probably do my own
business, start my own business,and why am I making all this
money for this big corporation?
And so it just got to a pointwhere the burnout factor in
corporate America was kicking inand I was like you know what?
Now's a good time to get intoreal estate.
But the real underlying reasonwhy I got into real estate was
(01:56):
on the first three propertiesthat I purchased.
Unfortunately, I had some prettybad experiences with real
estate agents, the first onespecifically.
It was interesting because backin that time there was really
no Internet marketing.
You didn't go online to findlistings.
You would either drive by alisting, go to an open house or
(02:19):
maybe go to a real estatecompany and see which listings
they had.
It was a completely differentway that you go about buying
real estate company and seewhich listings they had.
It was a completely differentway that you'd go about buying
real estate at that time.
And so I happened to be, youknow, I was told by one of my
customers from corporate America.
They're like oh we're, we'rebuilding some properties down
near Panther stadium.
And if I were you as a younger,you know, single guy, I'd go
(02:41):
buy property down there Causeit's probably going to be a
great investment.
And I'm like okay.
So I drove by, I saw a sign,you know, for sale sign.
I called the number and thensomeone came out and met me at
the property.
Well, I didn't know any betterbecause it was my first time
buying.
So I, this agent, was asking mea lot of questions and I
(03:01):
thought they were appropriatequestions and you know I
answered them all and told herprobably too much about my
motivation, my financing, mycredit, how much I liked the
property, et cetera, and when Iwent to make an offer on the
property.
It was weird because there wasno negotiation whatsoever, none,
(03:22):
zero.
Like I'd tell my agent what I'dlike to accomplish, nothing
would happen.
I'd suggest it again.
It was the seller wouldn'tbudge phase forward.
A couple months later, after I'dmoved in, um, I got to know one
of my neighbors and stopped bytheir place.
They had the exact same floorplan that I had, literally same
(03:43):
everything.
And we started talking and hewas like well, if you don't mind
me asking, how much did you payfor your property?
And I was like I paid 203.
And he's like you paid thatmuch.
I'm like, yeah, why?
How much did you pay?
He said I paid 185.
I was like, well, how can I be?
He's like well, didn't you haveyour own realtor?
I was like I thought I did andwhat I had was somebody who was
(04:06):
representing the seller andnever disclosed that.
To me that was obviously theworst one and that was the big
impetus of why I got into realestate back in the day and why
we call our company CarolinaRealty Advisors, because I've
come to learn that not allrealtors are the same and our
(04:29):
company slogan is the right realestate advice makes all the
difference for our clients andit truly does so.
I'm a big advocate of the lawof agency now and representing
people properly and disclosingall the information that they
need to know about and makingsure they understand that I'm on
their team.
I'm not representing the otherparty and a slew of other things
(04:51):
like that, but that's why I gotinto real estate and it was
very important for me back then.
It's still very important forme today.
Speaker 2 (05:01):
Well, I know education, you know you know a
lot about the city and you knowa lot about your industry.
So that's amazing.
So you live close to the uptownarea.
What are you seeing in thatmarket?
What are some of the trends?
Speaker 3 (05:15):
Well, I mean that's a really good question, you know.
I mean South End is booming andgrowing like crazy, and so much
so that they've got littlenicknames for it to just be the
South End.
Now it's low, so lower SouthEnd, and they're expanding
through other immediateneighborhoods, and so you know
kind of what you would expect.
(05:36):
I mean, when I first got into,you know, moved to Charlotte 96
I think we were like the 47th or45th largest city and from what
I understand, now we're in thetop 15 largest cities.
And so as you would think, ouruptown area is just booming,
growing A lot of you know sprawl.
Unfortunately, there's a lot ofapartment buildings.
(05:59):
I'm not a big advocate of those, just because I'd rather see
people be stakeholders in theirown neighborhood and have that
pride of ownership versustransient in and out of you know
apartments here and there.
But you know it's all in allthings are.
You know they're going verywell.
Speaker 2 (06:19):
It's very, it's incredible.
The growth yeah, I think theword is out.
Charlotte is a great place tolive and you know, with the
lakes and everything we havegoing, what do you think have
been the keys to your success insuch a competitive industry?
Speaker 3 (06:35):
Great question too.
I think it all starts with theway that we approach business.
I mean, we are brokers, youknow, I want to make that very
clear to your listeners.
We are real estate agents andreal estate brokers.
We buy and sell real estate but, that being said, taking the
advisory approach on the frontend, getting to know our clients
(06:58):
, getting to understand theirunique situations, checking to
make sure there's a good fit towork together, you know, when I
say fit, I mean you know, in ourinitial interviews, do we like
each other, do we trust eachother, do we feel like we could
work well for a period of time?
Because when you buy or sellreal estate it's not lickety
split.
It's typically going to beanywhere from you know, a
(07:20):
minimum of, you know, two tothree months, and sometimes it
can be.
I just had a client I wasworking with for 16 months
before they purchased and closedon the property, and so I think
, just initially approachingpeople with a curious mindset
and checking to see if we align,you know, with how we want to
(07:42):
do business together, that's thebig starting point and from
there, the 20, almost 25 yearsexperience I have, I think,
benefits a lot of my clientsjust knowing what to do, when to
do it, how to do it, where todo it.
That's going to benefit themthe most and get them the result
they want when they're buyingand selling real estate.
Speaker 2 (08:03):
Do you work with many people that are relocating here
or most of your clients,already residents of the area?
Speaker 3 (08:12):
Well, you know, we do a lot of marketing and with
that we have a lot of out ofstate people that come here all
the time.
In fact, I've got three of themunder sales contracts to close
in the next like two weeks.
That's just me personally.
(08:32):
Our company has several more,of course, and I have a whole
slew, I mean gosh, I'd say mypipeline.
I probably have 45 or 50 buyersright now at the moment, of
which, I'd say, 65% of those are, you know, from out of state,
or they move from out of state,or currently renting short term
(08:54):
before they buy.
So it's a.
It's a lot of new people thatare moving to the area, for sure
.
Speaker 2 (09:00):
What are they looking for when they come here?
Speaker 3 (09:05):
Well, you know, it all depends on the person.
You know, if it's a younger,maybe first-time buyer they
don't have to be young to be afirst-time buyer but if they're,
you know, that type of buyer,they're looking a lot of times
for a good investment, goodlocation.
(09:27):
If they're still out and aboutand wanting to go do a lot of
things socially, they may want alocation closer into the city,
whereas I have other clientsthat come in that they've got
larger families.
They might want to live indifferent areas and everybody's
(09:48):
different, you know.
So it really depends.
Schools are very important,commute to work is very
important.
Safety is very important, youknow, making sure that they get
a really good deal on theproperty they're buying, or
within reason, and they're notoverpaying or being taken
advantage of by somebody who'snot looking out for their best
(10:10):
interests.
Yeah, and you are licensed inNorth and South Carolina,
correct, I am licensed in Northand South Carolina and I also do
residential and commercial.
So I'm kind of a needle in thehaystack type of broker.
There's most people in myexperience if they're in
residential they may even be I'min resident.
(10:33):
Let's just say they say, ok,I'm in residential but I only
work in Valentine, or I'm inresidential and I only work in
South Park, which limits theirincome ability and really limits
(10:53):
what they can do.
In terms of what we do and whatI do, you know I specialize a
lot on, you know, waterfrontproperty because I spend a lot
of time up on the lakes whenit's, you know, when the
weather's right, I'm on the boatall the time with clients and
friends and you know so, eitherLake Wiley, lake Norman and even
up to Lake Hickory.
But I also do, like I wassaying, commercial work.
So I've got a lot of commercialspace right now that I'm
(11:16):
representing a landlord on interms of leasing, buy and sell
commercial space.
Do restaurants and bars,industrial, flex space, you know
it really.
Again, it goes back to theoriginal thing we talked about.
Is there a fit?
Do we like each other?
Do we want to work together?
Because if we do, I've got thebackground, the education and
(11:39):
the skill set to help my clientsdo almost any kind of real
estate transaction they want todo within a 75 to 100 mile
radius of Charlotte.
Speaker 2 (11:51):
That's incredible.
Where do you see the marketgoing in Charlotte Up?
Speaker 3 (11:57):
up up Simple.
Speaker 2 (12:01):
Still more.
Speaker 3 (12:02):
Yeah, I think that we have plenty of room to grow
Rates as of right now.
I mean today's, what, april 8th?
With things that are going onin the macro economy, mortgage
interest rates have startedcoming down, as we all hoped.
There's more buyers starting topop up in the marketplace
(12:25):
versus people that have beenholding on the one.
You know bad thing.
It's a good thing for thepeople, but bad thing for the
market.
You know bad thing.
It's a good thing for thepeople, but bad thing for the
market.
There's a lot of folks out therewho have interest rates in the
two and a half three, three anda half four percent range that
they got years ago and theydon't want to sell those houses.
And I don't blame them, in factI have several myself but
(12:48):
without selling those houses,the only inventory that
typically is coming on is goingto be new construction, which is
going to be usually out on theperimeter of 485 and some places
even a little bit further awayfrom the city.
Now, of course, there's goingto be regular resales because
things happen in life.
People get their job relocation, or their families grow, or
(13:12):
their families shrink and nowthey're an empty nester.
So there's reasons that peoplewill sell.
But there's a lot of people dugin on those, you know 3%, 4%
rates and are like, well, if Isell this house and the rates
are.
But the good news is is itlooks like probably by
mid-summer we might be in alower than six.
(13:32):
You know five and a half, fiveand three quarter interest rates
, which are really, really goodand that should spur a lot of
movement.
Speaker 2 (13:39):
Well, that's exciting , excellent news.
So I know you're involved inyour community.
Share with us a little bitabout what you do.
Speaker 3 (13:50):
Well, you know, when I had more time, now that my
company's grown and you knowbeing involved with our
(14:18):
homeowners association as apresident of the board.
But probably the biggest thingthat I did you know this was
years ago, but I was presidentof the Third Ward Neighborhood
Association in Uptown and we dida lot when I was president a
lot of little projects, fromrenaming street signs to, uh,
(14:41):
backward Fraser park is.
We had an opportunity to like,repave the basketball courts,
had them repainted, doing treeplantings, all that.
But the biggest, biggest thingthat we did, um did and that I
was involved with was helpingthe Charlotte Knights move into
Uptown, which was reallyinteresting.
(15:02):
Through that process I got tosee behind the scenes of the
political circus, if you want tosay where people are, even
though it's a great idea nowthat we have the baseball
stadium uptown, all the growththat's come because of the
stadium.
But there was politicians backthen that didn't want to do it
because you know they're reallylooking for favors before they
(15:25):
would say, okay, it's good,let's do this.
But it was a long process.
Got to meet a lot of greatpeople, you know.
But because it came into ourneighborhood in the third ward
and I was president of the thirdward at that time.
I had a lot of involvement inyou know meetings and things
that really were educational andhelpful.
(15:47):
But the bottom line is we havethe Charlotte Knights in the
third ward, right next toPanther Stadium, and it's great
to live in the third ward and beable to walk to you know a
hundred outdoor sporting eventsin a year.
It's a lot of fun.
It's worth it.
Speaker 2 (16:03):
That is an amazing story.
Well, you've got a very fullprofessional life.
If you look back, what are youmost proud of?
Speaker 3 (16:15):
Jeez, that's a great question.
I might have to table that onefor a little bit Well.
Speaker 2 (16:21):
you've done so much I know, even early before, while
you were in school.
You know an athlete and some ofthe things you accomplished
with the Leadership Academy.
You've been an entrepreneur fora long time.
Speaker 3 (16:36):
Yeah, I mean, I think it's just in my blood.
You know, always just driventype A personality and just you
know, go, go, go and push, push,push and have fun doing it.
You know, it's just me.
Speaker 2 (16:49):
What do you do for fun?
Speaker 3 (16:51):
Well, during, you know, the spring, summer and
early fall, I love being on thelakes, so boating, being on the
lakes, having fun.
I have a house down at thebeach in Garden City Surfside,
you know, myrtle's Inlet area,so from time to time I go down
there.
But I also love to travel.
(17:13):
I love going to costa rica.
I've been kind of setting up aside business down in costa rica
with some of the friends I'vemet through the years and in
fact I'm going to be headingdown there pretty soon, next
couple of weeks, and uh, it'sjust, it's just an outlet to go
down and do things likeexcursions, you know, deep sea
fishing, snorkeling, you know,riding side by sides through the
(17:36):
rainforest and just doingreally cool adventure type stuff
that I like to do.
Speaker 2 (17:42):
Well, when you launch that, we'll have to do another
podcast and tell us what you'redoing.
Speaker 3 (17:47):
There you go.
Yeah, absolutely I'd love to.
Well, Mike, it's been apleasure.
Speaker 2 (17:52):
You are so knowledgeable and I so
appreciate you joining us todayand giving us all the
information you just shared.
Speaker 3 (18:00):
Thank, you, you got it.
Thank you for having me.
I appreciate it.
Speaker 1 (18:04):
Thank you for listening to the Good Neighbor
Podcast.
To nominate your favorite localbusinesses to be featured on
the show, go toGNPSouthCharlotte.
com.
That's GNPSouthcharlotte.
com.
That's gnpsouthcharlotte.
com, or call 980-351-5719.
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