First-time STR - looking in and around Wilmington, NC

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First-time STR - looking in and around Wilmington, NC

Ross M.
Investor · Durham, NC · Member since 2022 · 17 posts · 31 votes

Hi all,

This post is to introduce myself and get involved with the BP community. My wife and I are NC residents near Durham and are finally ready to invest in real estate. We have owned 3 primary residences and sold 2 of them as we have relocated twice over the past 6 years.

We're really interested in building a diverse portfolio of properties in different locations and of different types. We want to start with a STR in a coastal area in NC, preferably in Wilmington, Carolina Beach, or Kure Beach. Eventually we'd like to have one around the Smoky Mountains, in addition to LTRs and multi-family around the state or beyond.

In short, we are just beginning our real estate investment journey and have lots to learn. We'll be reading lots of BP posts to get educated, and of course would welcome any advice, especially from those experienced in NC real estate.

Thanks!

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Bob Anthes
Rental Property Investor · Port St Lucie, FL · Member since 2019 · 150 posts · 79 votes
4y

@Joe Prillaman is an RE agent and runs the meetings you can message him here 

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  • Bobby FeinmanBusiness Member
    Lender · VA Beach, VA · Member since 2019 · 923 posts · 91 votes
    3y

    @Ross M.

    Congrats on your decision! I have been in real estate for over 25 years. Started as a fix & flip investor and landlord and was a new construction builder for 18 years. I have been a full time lender for over 3 years.

    I live in VA Beach, not far away from you. Happy to assist in any way I can.

    Bobby

    [email protected]757-222-5937
    0Reply
  • Greg Snipes
    Member since 2022 · 3 posts · 2 votes
    3y

    @Ross M.

    Interested in hearing how things are going with your STR experience. I'm located near Greensboro, NC and have been looking to get started in the Emerald Isle, Atlantic Beach, or Sugar Mountain area.

    0Reply
  • Myrtle Mike ThompsonBusiness Member
    Realtor · Myrtle Beach, SC · Member since 2016 · 352 posts · 204 votes
    3y

    @Ross M. Welcome to the BP community! I'm a buyer's representative for the Myrtle Beach and North Myrtle Beach markets... just south of the areas you mentioned. Topsail Beach would be another spot to consider. From my perspective, the Wilmington area in general holds a lot of promise for STR investors. Really cool arts and craft beer scene, popular place for destination weddings, and they're starting to draw some bigger acts in terms of concerts and performances. Feels like a miniature Charleston, or even a little bit like Savannah. If you ever look to diversify south of the border, let me know. Good luck!

    [email protected]843-999-2301
    Myrtle Mike Real Estate580 Reviews
    WebsiteView Page
    1Reply
  • Tiffany Alexy
    Real Estate Broker · Durham, NC · Member since 2014 · 236 posts · 168 votes
    3y

    Hey @Ross M.! 

    Somehow I missed this original post but welcome. I'm in Raleigh, and I own rentals all over NC. Mix of long and short term, residential and commercial. STR in Lake Lure as well as an STR in Wilmington. Are you still looking to acquire an STR at the coast? I've considered selling mine, so let me know if you're interested and I can send you more details.

    1Reply
  • River SavaPro Member
    Lender · USA · Member since 2022 · 1k+ posts · 1k+ votes
    3y

    Hi Ross- welcome to BP! 

    Sounds like you have a solid idea of where and what you want to invest. Curious if you are looking into different financing options. Would love to help where I can and connect!

    [email protected]
    2Reply
  • Ross M.
    OP
    Investor · Durham, NC · Member since 2022 · 17 posts · 31 votes
    3y

    Hey all,

    Thanks for the recent comments. It's cool to see so much interest and engagement! This is our first STR, so we can update as things move along. Also, we still want to expand into other markets in NC and elsewhere.

    @Mitch Davidson @Jordan Lockaby @Bobby Feinman @Greg Snipes @Myrtle Mike Thompson @Tiffany Alexy @River Sava

    0Reply
  • Ross M.
    OP
    Investor · Durham, NC · Member since 2022 · 17 posts · 31 votes
    3y

    I'm excited to announce that after 3 months of hard work and lots of back and forth travel, our listing is live! You can view it here.

    So far we're just on AirBNB, but we'll add other channels and a direct booking site soon.

    Any feedback is welcome! All credit for the interior design goes to my wonderful wife and business partner, @Janelle Matheny, who just joined BP.

    4Reply
  • Derek Criscitiello
    Realtor · Wilmington, NC · Member since 2022 · 9 posts · 5 votes
    3y
    Quote from @Ross M.:

    I'm excited to announce that after 3 months of hard work and lots of back and forth travel, our listing is live! You can view it here.

    So far we're just on AirBNB, but we'll add other channels and a direct booking site soon.

    Any feedback is welcome! All credit for the interior design goes to my wonderful wife and business partner, @Janelle Matheny, who just joined BP.

    Awesome Ross! Listing looks great. Keep us posted as to how the rental does once a little bit of time has passed. I'm an agent in Wilmington who is looking for a live in flip at the moment but also interested in STRs in this area and the mountains. NC has plenty to offer and seems to just keep growing.


    1Reply
  • Jordan Lockaby
    Real Estate Agent · Asheville, NC · Member since 2020 · 68 posts · 39 votes
    3y

    Congrats on getting your listing up and live! It looks great! If I could offer you any feedback it would be to get professional photos done. I have an awesome local photographer who's less than $150, and I think it's well worth it. It will elevate and truly showcase all the hard work you've done on the property. Best of luck!

    1Reply
  • Ross M.
    OP
    Investor · Durham, NC · Member since 2022 · 17 posts · 31 votes
    3y

    Thanks @Derek Criscitiello and @Jordan Lockaby! Agreed, the photos are one of our top priorities to improve.

    We had our first booking last week! It came through Booking.com, went great, and we got a 10/10 review. We also just hosted our first AirBNB guests and have another booking later this month.

    1Reply
  • Jordan Lockaby
    Real Estate Agent · Asheville, NC · Member since 2020 · 68 posts · 39 votes
    3y

    Congrats!

    0Reply
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