North Carolina Hard Money Deal - Active

725

1 deal

No

Surf City

North Carolina

$575,000

$14,999

$30,000

$675,000

Currently looking for a property to airbnb. This specific property that I am interested in, is a beach cottage located 2 blocks from the ocean in the popular area of Surf City NC. The home needs some cosmetic updates but with the location it has great potential for an income earning property. I would update the storage areas downstairs as well as the outdoor shower, add new landscaping, fresh paint throughout and update the kitchen and bath. The property comes fully furnished so once the work was completed it would be ready to rent by late spring, early summer. It has sat on the market for 85 days so I may be able to negotiate a lower price than the asking price of $574,900 which has not dropped since listing it. My husband and I purchased our first fix and flip last year. It took us about 5 months after purchase to fix and sell it. The home was under contract within a week with multiple offers. We did a lot of the work ourselves as my husband has a background with some residential contract work and hired out others beyond our scope of practice. Our net profit was $60,000. My husband has owned and operated his bar/restaurant for 17 years and I am an active real estate agent that has been in the business for about 3 years. We are both hard workers and want to invest in more properties to enable us to live the life we desire and leave a legacy for our two kids.