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Old 04-10-2012, 08:22 AM
 
Location: Surf City, NC
249 posts, read 250,257 times
Reputation: 398

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I concur that renting beach houses in North Carolina is not likely to cover your expenses. I also was doing it as a bridge toward retirement, and hoped merely to "help" with the expenses. I didn't want to go with a long-term rental because I wanted to have it available occasionally for family and friends, so I don't know what kind of return folks get that way. The problem with vacation rentals is that it's seasonal. You're lucky to get 12 weeks in the summer. My second row house got 8-10, oceanfront will do better. A problem here at Topsail is that our market is mostly North Carolinians, and North Carolina schools start up early in August. I encouraged my family members to choose August; and advertising on internet sites brought August renters from other areas. A couple of years I rented 1 - 2 weeks in the off season for golfers or families with a marine departing or arriving home to Camp Lejuene. If you want a good return on investment for vacation rentals, I'd advise you go to Florida, Hawaii, or somewhere that has a year-round market.

Last edited by Johanna25; 04-10-2012 at 08:45 AM..
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Old 04-10-2012, 10:06 AM
 
Location: Mid-Atlantic east coast
3,864 posts, read 5,441,540 times
Reputation: 5849
Beaufort is a sweet town that seems to have a goodly infusion of intellectual capital..we have the Duke Marine Lab and NOAA and many retirees from Washington DC, NY, NJ and the locals are smart, too, with a large emphasis on schooling, higher education and a love of reading.

I volunteer with the Friends of the Library and I'm constantly amazed at the fine books that are donated...a very tasty and wide-ranging assortment. People in NC are big readers...a nice sea in which to swim for this lover of words and literature.
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Old 04-10-2012, 10:10 AM
 
1,977 posts, read 2,373,277 times
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Originally Posted by LittleDolphin View Post
Beaufort is a sweet town that seems to have a goodly infusion of intellectual capital..we have the Duke Marine Lab and NOAA and many retirees from Washington DC, NY, NJ and the locals are smart, too, with a large emphasis on schooling, higher education and a love of reading.

I volunteer with the Friends of the Library and I'm constantly amazed at the fine books that are donated...a very tasty and wide-ranging assortment. People in NC are big readers...a nice sea in which to swim for this lover of words and literature.
i love beaufort, but i didnt see a lot of decent real estate for sale there when i was searching online recently. i'm not in a position to buy but was just daydreaming about it lol. i stayed at the marine lab for a summer and it was really amazing
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Old 04-10-2012, 04:02 PM
 
Location: Mid-Atlantic east coast
3,864 posts, read 5,441,540 times
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I think it pays to work with a local realtor on searching for attractive listings... I understand that the realtor.com website is not always up to date...and no, I'm not a Realtor, but I think it's advantageous to work with one...
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Old 04-11-2012, 12:12 PM
 
16 posts, read 42,230 times
Reputation: 12
Thank you all for the advice, particularly on Topsail. We have been scouting out beaches from Atlantic Beach to Sunset Beach over the last several months and we keep ending up back at Topsail b/c of the convenience and the low-key, quiet aspect of the island. The main issue we see with Topsail is the vulnerability to storms and sea level rise due to its very low elevation. Now before anyone jumps in and says "that's the chance you take" or "barrier islands are always changing", of course I know there are no guarantees and that's why insurance is going to be expensive.

I was looking for exactly what wrestlingterp provided (thanks for that, I am a fellow Marylander and Terp originally from Annapolis). I'll have to investigate the CAMA thing you mentioned.

Regarding heavy traffic, I'd like to avoid congested areas due to the added time it would take to get to the destination. For instance, we went to Kure, Carolina and Wrightsville beaches this weekend and the traffic around Wilmington was bad in April (albeit Eater weekend), I can only imagine what it would be like in July. And the traffic along the main beach road in Carolina and Kure was bad also, not the case from my experience on Topsail (other than checkin/out days).

With regards to making money on the rentals, it would be awesome to actually make money but given insurance, maintenance, and property management fees I think making money is unlikely. I'm more interested in the tax benefits from a financial perspective, not to mention this is one of the best times in recent history to buy property.

Anyway, thank you everyone for the general advice, keep it coming if there is more.
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Old 04-11-2012, 01:40 PM
 
Location: Mid-Atlantic east coast
3,864 posts, read 5,441,540 times
Reputation: 5849
We've found living in a coastal access town and out of the direct tourist path is very pleasant. We can pick and choose whether to join the throngs at the beach or waterways or historic district--or not...we're only a 10 minute bike ride from downtown Beaufort and all it has to offer, but in a quiet, tucked away neighborhood...
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