Real Estate Investor · Charlotte, NC · Member since 2008 · 4 posts · 1 vote
Hi, everyone I am a newbie at the real estate game and wanted to know if anyone has any suggestions on finding decent propertys in the coastal carolina areas, such as New Hanover, Brunswick, Columbus, and Pender counties? Ive looked in the MLS for the areas but the propertys are so few I just think there has to be more. Please help with any suggestions....
I would also like to look for investment properties in Coastal NC region.
From what I've gathered from a few people I know who work for Intracoastal Realty in New Hanover County, it sounds like the housing boom is not what it was 2-3 years ago and things are starting to flatten out a bit, but there are still some great deals out there.
They also mentioned that for a while everyone was listing their homes for sale and nobody was buying, this was during the housing crises earlier last year. Now they are starting to see some buyers come into the arena again and things are starting to look a bit better.
If you can get ahold of investment property in Wrightsville Beach, Carolina Beach, or even Kure Beach, I really feel that you have a great chance at making some money on vacation rental properties.
also I must mention I am pretty much as new as it gets when it comes to real estate and I don't have any money to invest either, so take the advice for what it is :)
From what i've seen in Charlotte, a number of homes were listed but didn't sale but not neccessarily because the market flattened out....
Many homeowners got it in their heads that their homes could sell for whatever they listed for or got into the mind set of "if I can sell it for what I'm listing it for, I'll move"....
In other words, homeowners tried to speculate on the market and listed their homes artificually high hoping to make a killing when they really had no intentions or need to move....
Coastal property in SC is very expensive and worse losing ability to be insured. The lots are selling for more than a million dollars and people who have already purchased them are having a hard time renting them when compared with past years.
You can't buy coastal property in my mind without alot of money and, I presume able to self insure.
With me being originally from Columbus county NC, and the rural coastal areas i believe the are there for bigger money investors, im just starting out and my line of credit isnt that big just yet, ive been in touch with realtors in the wilmington area but the homes after inspecting all have major isuues....termites...structural...or title complications....thanks everybody for giveing me this great advice, im not going to give up....Living here in Charlotte I believe the market is a tad bit inflated and everyone has taken a course or two in short sales or foreclosures, now when one comes available everyone jumps on it and it gets inflatted quickly taking the profit margin out...
See Dante here is the problem. Everyone is looking for the same thing and getting the same results.
I focus on buy and hold for myself and my investors. The reason why is because I have an eye for properties and you are right. Properties in Charlotte area are over inflated and that's why we focus in Rowan, Cabarrus, Iredell, and Union. Don't get me wrong if a property comes available in Charlotte by way of my marketing I will jump all over it.
Buy and holds is where the MAJORITY of your money will be made in Real Estate.