@John Mausteller sorry I missed this post. I recently closed on a place and will be there in August fixing it up when the longterm tenant moves out. Would love to connect with local investors.
Just saw this. I am moving into the Crystal Coast, SOBX area. Just purchased one door in Atlantic Beach and another in New Bern. Would love to connect and/or discuss
Contemplating purchasing a STR in Nags Head or Manteo. We would use it our selves in Jan and Feb. We need to be close to Manteo for work. We plan to rent the rest of the year. I like the southern Nags Head area as it looks quieter but concerned about erosion etc... Also concerned about the ability for a property to pay for itself and Capex etc..
Any advice is welcome. Looking for insurance companies and what they will insure. Also property management companies and typical fees that they charge in this area.
My husband would like to retire there but I told him if we purchase an investment property we may not be able to afford not to rent it in season....
Contemplating purchasing a STR in Nags Head or Manteo. We would use it our selves in Jan and Feb. We need to be close to Manteo for work. We plan to rent the rest of the year. I like the southern Nags Head area as it looks quieter but concerned about erosion etc... Also concerned about the ability for a property to pay for itself and Capex etc..
Any advice is welcome. Looking for insurance companies and what they will insure. Also property management companies and typical fees that they charge in this area.
My husband would like to retire there but I told him if we purchase an investment property we may not be able to afford not to rent it in season....
Amy - I think if you find the right home, it could definitely pay for itself by renting it out in the summer months and the shoulder seasons (spring, fall). I would look for a home on the ocean side of route 158. Erosion can be an issue but the various towns along the Outer Banks participate in beach nourishment which help stabilize the beaches. Depending on your price range, there are homes available that are walking distance to the beach and would rent well. I can also help answer any specific insurance questions or point you in the right direction. Property management companies vary and there are also local 'hosts' who will manage your home through sites such as Airbnb and Vrbo. Please feel free to reach out if you would like to chat.
Hi John, I am working with someone in your agency, I think, Kent who was recommended by business colleagues. Thank you the post. The beach scares me a bit even though it is lovely. I was asking Kent about septic down there. Here in RI if you live near the beach and you need to replace the septic it is a very expensive bill. I am one mile from the beach in RI and my septic was 38K. This is a cost I don't hear a lot of talk about on this forum. Knowing the state of the septic and the replacement costs is so important because it is he most expensive home expense that I can foresee. I don't know what your coastal rules are but here they are super strict about anything near the beach or salt ponds. Any addition to a home requires a full upgrade as well.