Outer Banks North Carolina

[Greg Dickerson]

Who has a question about investing, owning and or building on the Outer Banks? 

I lived there from 1997-2011 and was one of the largest builders in the area. I have built and developed hundreds of homes and done over $200 million in total building and real estate transactions over the years. I still build houses there today and have owned lots of rentals over the years. I know the area intimately. I am a North Carolina General Contractor and a North Carolina Real Estate Broker as well. I would be happy to discuss and answer any questions. 

[Greg Dickerson]

@Michael Baum @Shaun J.

The Outer Banks has houses starting in the upper $100k range up to several million. All depends on location and rental income. 

The houses that are rental machines are generally $300k and up and do very well. The OBX has a long solid track record including solid performance during the 2009 recession. Rents increase every year and managment costs are low compared to other similar markets. 

In general you can figure 30-40% operating costs including management so it’s very similar to most commercial or multifamily but. without the headaches and tenant issues of those assets.