I have experience working with real estate investors in Wilmington and surrounding areas (I am a real estate investor myself) and I will be able to choose the best option for your needs. If you don’t want to search and communicate with your future tenants yourself, I can recommend a property manager to you who will deal with all issues related to the renting your house. Some of my clients do not even live in the area, they just buy and hold properties receiving the automatic payments from their tenants to their bank account.
And the best part is that it would not cost you a penny to work with me, my commissions come directly from the sellers’ side.
Information for consideration:
A large number of citizens of the former Soviet Union with substantial capital on their hands do not know how or do not have the opportunity to invest it. Investment in real estate, at all times, was considered the most reliable way to increase and preserve capital. I am a Certified Financial Adviser myself and, like no others, I see rise and fall of the financial market that poses a constant risk for the financial losses. The cost of a real estate as a whole, depending on the region of course, constantly goes up (in a coastal market where I work with real estate, the average home appreciation varies between 3% and 9% annually)
Investing in real estate, in my view, is the most reliable and profitable way to accumulate capital, additionally creating a stable cash flow. Have you ever wondered why there are so many millionaires in “Forbes” rankings involve in this type of activity? For example, one of the richest people in the world began with real estate investing. At age 14, he acquired 40 acres of land, which he leased to farmers. The name of this man is Warren Buffet.
Do you want to create a passive income without a huge effort on your part? Then investing in real estate might help you to achieve this goal; a rental income is pretty much predictable. Financial experts consider capital investment in foreign real estate as one of the profitable and reliable businesses.
Every person tries to find the most profitable and less risky investment. How and where to invest to beat inflation? How to make capital to work, bringing attractive dividends? The answer is simple – you need to invest in a long-term most promising investment tools. One of these tools is a real estate.
Why you should buy a property in Wilmington, North Carolina
The housing market of the state of North Carolina in 2018 was marked by the second growth rate of investment property in the country. It means that now is the best time to pay attention to the real estate in Wilmington and surrounding areas. The city center is full of cultural events and restaurants, many educational institutions with a good reputation and around many stunning beaches.
Below is a brief overview of the real estate market in 2018.
According to “Trulia”, the cost of selling residential property in Carolina Beach has increased by an average of 3% to 9% over the last year (2018). The average price per square foot in the same period increased from $241 to $250. In 2018, the highest demand was for houses with 4 bedrooms, the cost of which today is an average of $450,000 and shows an increase of 6% over the past 5 years. The rental price is seasonal in nature and ranges from an average of $1,750 to $2,800 per month for a 4-bedroom house.
Below are some data that show the investment attractiveness of certain Wilmington areas in 2018, according to “Mashvisor” statistics:
Silver Lake, Wilmington, NC:
Median investment property price: $289,900
- Avg./Sq.Ft.: $155
- Cash on cash return: 2.04% – 8%
- Rental income $1,403
- Average Airbnb occupancy rate: 37%
- Home appreciation: 9.2%
Hampstead, Wilmington, NC:
- Median investment property price: $339,000
- Avg./Sq.Ft.: $454
- Cash on cash return: 2.25% – 5%
- Rental income: $1,523
- Average Airbnb occupancy rate: 65%
- Home appreciation: 4%
What should I look for when buying investment property in Wilmington?
- Cost of utilities
- Repair and service
- Cost of property management services
You also need to calculate a depreciation fund of your property, as there might be unexpected expenses when renting a house. If you want to know more about investment property in the Wilmington region, please contact me. I would be happy to answer any questions and find the best investing options for you.