All Forum Posts by: Account Closed

@Account Closed I am currently searching for homes in the Holly Ridge/Hampstead area. After spending nearly everyday searching the MLS I can confidently say that off market is going to be your best bet to find a deal. So far I haven't found a deal that surpasses the 1.3% rental to house value ratio. As a Marine living in Holly Ridge, I can confirm that this area is sought after by Marines looking to live half way between base and Wilmington which makes for a strong rental market. If you have questions about particular neighborhoods feel free to PM me.

On a completely unrelated note, I grew up not far from Fredrick in Woodbine, MD. Small world.

@Account Closed Yes, I specialize in investments in the immediate Wilmington area (specifically near UNCW). To be honest, I know very little about the Hampstead market. There is another agent on my real-estate team that sells condos out in that market and does military stuff. Here name is Renee Clark. If you can't find her on Google, e-mail me for contact info. She's a really good agent.

Buy & hold, class C. 

Rachel works with other investors, I believe some of them invest in Class A and/or Class B...

I'd agree with @Kory Denny. It really depends where you are at. What I've noticed is that the first time buyer market is really pumping up the prices and pushing down cap-rates, especially near UNCW. The listings I have within a few miles of UNCW are almost always calls from owner occupants.

I lived in Wilmington for 18 years and it is recently undergoing a drastic transformation in the form of massive apartment building construction and big money coming in to invest.  Home values have gone up tremendously and all the lower priced homes in B neighborhoods have been snatched up.  Every now and then a 60k 3/1 brick ranch in a blue collar neighborhood will pop up and will be snatched up within a day or two.  The least expensive houses, and rightly so, are the houses in the hood which is in the north-west part of town.  So if you want a deal you have to watch the market intently and pull the trigger quick.

Im a contractor... my experience in Wilmington area has been broad. I have worked with new construction, SFHs, MFPs, College living, house hacking arrangements, Airbnb ect... Im as I mentioned not a buyer so my experience stems from my own DD. 

Me personally am looking at properties surrounding colleges in this state. Wilmington is second on my list behind Raleigh. I don't know what your experience is but every area is different and has certain things to look for. I recommend trying to find a partner in the area that would do the leg work for you if you are unable. 

@Rachel De Faut knows the Wilmington market very well from an investors viewpoint. She's helped me find a few good properties there, even in today's market.

As am I! We have started taking trips down to the coast to check out a few properties. It is such a dynamic area with many factors. I recommend visiting the area in the fall. The weather is amazing and you can make a fun time out of your research trip. 

Many investors have scooped up the low hanging fruit but as with any market the right marketing and leverage can produce leads. Also consider the colleges in the area and perhaps the submarkets within those. Similar places a mile a part can have a drastic variance in price. With the end in mind consider the type of tenants you want and work back form there. 

I come from a family of builders and Southport is very historically rich for my family so more than likely i'll be biased towards this area and have avoided considering property there so far. Our family has built many homes down in that area to include the Southport marina itself.