Realtor · Fayetteville, NC · Member since 2016 · 42 posts · 14 votes
Do you (or anyone you know) invest in Spring Lake, NC? It's extremely close to Fort Bragg and is a great area for BRRRR's and Flips (depending on the neighborhood.) There are a ton of potential military tenants and/or buyers since it's so close to base, making it a convenient commute for military personnel.
Rental Property Investor · Fayetteville, NC · Member since 2014 · 884 posts · 670 votes
7y
It really depends on where in Spring Lake you are talking about. After all - dont forget that Anderson Creek Club is in Spring Lake. Two years ago I bought a little 3/1.5 in Spring Lake (very close to hwy 87) for just under $40k. Had just been painted, new flooring, newer roof/HVAC. Rented it in a day for $650 (could probably get $695 today). Same tenant since day one.
lower quality of tenant in general, even less growth than Fayetteville (which is already abysmal), and it's a ~25 minute commute to get these
Spring lake often looks good on PAPER but real estate doesn't work by what's on paper. The numbers are only a small portion of what's important in a deal. The juice ain't worth the squeeze for me.