Updated about 2 years ago on . Most recent reply
Turn Key AirBnB - Historic District Wilmington NC, worth it?
My question for everyone. I have an opportunity to buy my Wife’s parents home in Wilmington NC, fully Furnished, and would be a turn key Air BnB. Would you jump on it?
Info:
It’s in the historic district (Built in 1903 I believe). Less than 1 mile walk to river walk, shops, downtown Wilmington. It’s fully Furnished. Decent condition. Great area. Minimal Yard maintenance.
Negatives:
Previous owner cemented all the windows shut to conserve energy.
Older more “Fragile” home. Older infrastructure. Potentially greater amount of upkeep. More expensive maintenance. Less energy efficient. Restrictive historic district rules for modifications to home.
I almost feel it might turn into a money pit, but this would be my first home rental move. Not sure if my concerns are legit or if I am just nervous as it’s a new move for me!
Would you all do it and take a chance on turning it immediately into an AirBnb?