Rental Property Investor · San Francisco Bay Area · Member since 2020 · 17 posts · 5 votes
Any investors/real estate experts out there in Sneads Ferry, NC? Just wondering what your thoughts on how the market is in 2020 & 2021. Worth buy & hold? What are some things to watch out for? A lot of the datat's I've seen are prior to 2018, and much has changed the recent years. Any information I'd appreciate it.
Real Estate Agent · Colorado Springs, CO · Member since 2019 · 79 posts · 77 votes
5y
@Shirley Wen I live in Sneads Ferry and prices are continually rising on single-family homes because of low inventory and high demand. There's major migration to the area for various reasons, which means a ton of competition for any house that pops on the market under the $350k mark (maybe even $400). Not sure what your goals/criteria area..If you're looking on-market for buy&hold long-term rentals, it's not a great outlook for cashflow. Even off-market is difficult because sellers are very awaye there's high demand and low inventory. It's becoming that way in Jacksonville, Holly Ridge, Hampstead, Wilmington, Swansboro, New bern...LOL This whole area is growing rapidly. If appreciation is your plan, then it's a good place to be.
Short-term rentals are very popular and can be a good strategy for getting cash flow because we're close to the beach. We also get lots of visitors of family members stationed at the military bases.
Investor · Jacksonville , NC · Member since 2015 · 143 posts · 54 votes
5y
Lots of building in the last 15 years = nearly zero appreciation on a standard 2500 sq ft stick house because that is what has been built. Pricing is strictly $ per sq ft; you are not going to get anything extra for wood floors, marble, etc. because that is what all the homes have that have been built in the last decade. Decent rental market but you're not going to get above the BAH of a SSgt / Captain. Definitely don't buy your dream home and then hope to rent it or sell it profitably in 3 years. Nice area to live but not a hot market like true beach towns or larger towns / cities near the water.
Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
5y
The main game, IMO, is development like on Old Folkstone Rd just west of 210. There were a few developable lots for sale by owner the last time I drove by. There is essentially no land available off 210 north of 172 (most either NC State owned or part of Camp Lejeune) The Sea Island Homes development off 172 (south side behind Dixon Middle School stalled out... not sure why. You can see from Google maps where they cut in the roads/cul-de-sacs, but that was 5-6 years ago and it's grown back in.
Other than development, unless you live there and really understand the local market dynamics, or have insight from an established local property manager... I'd be careful. For buy/hold, I think in/around Jacksonville would be a better bet.
Real Estate Agent · Colorado Springs, CO · Member since 2019 · 79 posts · 77 votes
5y
@Shirley Wen I live in Sneads Ferry and prices are continually rising on single-family homes because of low inventory and high demand. There's major migration to the area for various reasons, which means a ton of competition for any house that pops on the market under the $350k mark (maybe even $400). Not sure what your goals/criteria area..If you're looking on-market for buy&hold long-term rentals, it's not a great outlook for cashflow. Even off-market is difficult because sellers are very awaye there's high demand and low inventory. It's becoming that way in Jacksonville, Holly Ridge, Hampstead, Wilmington, Swansboro, New bern...LOL This whole area is growing rapidly. If appreciation is your plan, then it's a good place to be.
Short-term rentals are very popular and can be a good strategy for getting cash flow because we're close to the beach. We also get lots of visitors of family members stationed at the military bases.
Rental Property Investor · San Francisco Bay Area · Member since 2020 · 17 posts · 5 votes
5y
@Ben H.@Chris Martin@Aubrey Maldonado, wow thank you so much guys, these insights are super helpful. Are there any good short term rental management companies you recommend in that area?
Real Estate Agent · Colorado Springs, CO · Member since 2019 · 79 posts · 77 votes
5y
@Shirley Wen You might check out Patriot Family Homes. I haven't used their services myself, but I've heard they do a great job with managing short-term rentals.
how does cash flow market look like in SF? Will be stationed there for the next two years as I am an AD military. Hoping to rent out the house after I move out of it! I was planning on buying a property around 250k, maybe 3 bed 2 bath. Thanks!