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I just had an onsite property manager at an oceanfront Myrtle Beach condo complex talk me OUT of buying rental property; said he's also a "cash player" and wouldn't invest in it. That was rather odd!
Hello, I just registered in this forum because my husband and I are considering buying beach rental property in one of these areas. Oak Island, Surf City, Kure Beach, Carolina Beach, Ocean Isle, or Holden beach. After reading this forum we are second guessing this decision and maybe buying in another state.
Some sidebars. I'm originally from Mt. Airy, NC and Asheville. I live in Colorado now. Therefore the reason I want to get back to the NC beachside.
Is there anyone who owns a NC beach rental in any of these areas that have had good experiences?
Actually we did similar back in 2012 trying to decide where to buy even looking as far as Wrightsville Beach. We ended up purchasing a property as an investment and we do get a better return on our money than if we left it in a CD. One year we had almost 5% return on our money which is better than the 1% or less the banks give you for a lump sum interest. You can have a look. I am pleased with the rental company I use. They do premiere packages and in the coming season are adding video and extra. My home is well maintained by them and it appears they screen renters well. It is 70% booked up a year in advance for my rental months. Lots of repeat renters. Here is link to Hobb's Realty Holden Beach Holden Beach | Vacation Rentals | Real Estate | Hobbs Realty In the drop down number menu we are 1125 OBW. By the way we used Felix Zarzecki as our realtor. He was very upfront about properties that had issues and wasn't out to just make a sale. We wanted to pull the trigger on a few even more expensive but he pointed out some drawbacks we hadn't thought of.
Thank you goodgal! A few other questions, if you don't mind.
BTW, your house is amazing! We have a realtor, friend of a friend... We are certainly in the market for a management company and our realtor provides one. However, we will naturally shop around.
We are looking at only 3-4 bedrooms and probably 2-3 rows back with an oceanview because we have been told the wear and tear is not as much. Did you find that the rental properties you looked at had better ROI if there were more bedrooms, on the ocean, had a pool, etc. Or are these things even in the equation?
Also how many weeks/yr. do you rent? When are your high times, when are your low times?
Last edited by mmondayr; 05-22-2016 at 11:58 AM..
Reason: Added more questions.
I still see ads for reasonably priced oceanfront condos at Myrtle Beach that boast rental income of up to $20k a year; it's hard to see how you can go wrong with that investment? And I am still considering it.
I'm now concidering a beach rental. I want to spend 2-5 weeks a year there and rent whatever else I can. I could buy anywhere from Hilton Head to OBX, but I was looking at Topsail area because of short drive from Raleigh, prices and reviews. Anyone else care to chime in on ideal beach locals. We're looking at 3BR, sub 250k and hopefully with Oceanview. Topsail seemed to fit the bill. We've only ever been to Duck in the past and loved it, but the houses are too pricey.
We're looking at 3BR, sub 250k and hopefully with Oceanview. Topsail seemed to fit the bill.
With those parameters, you could get a sound-view house in Topsail Beach but probably not an ocean-view places.
If you found an ocean-view place in North Topsail, I would be concerned about the place being washed away in the next hurricane. Be careful of anything too cheap!
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