All Forum Posts by: Wilson Hunter

Make sure to check Cobbly Knob restrictive covenants because there’s a section about replanting with certain types of trees if you plan to cut for improved views. 

I’m a strong believer in the future of Hatteras Island and recommend checking out that area. For $500k budget you’ll get better cash flows down there as you’ll be able to get the more premium waterfront properties. Also if you can somehow reach for the 4th bedroom it’ll make a huge difference in returns.

That would be cool in a major tech hub like Austin where a co-working / co-living hybrid space would be appealing with a particular type of renter. You could market it for startup bros and maybe partner with a tech accelerator. But other than a specific business model like that it seems risky.

This looks awesome, thanks for sharing!

Come check out Hatteras Island @John Underwood

Ditto, ditto, Branson is the half priced, half revenue carbon copy of Smoky Mountain market, more like Pigeon Forge than Gatlinburg, add in a lake and take away insane views.

I’m a believer in OBX being a Smokies-like market of 3 years ago, particularly Hatteras Island. The nightly rental rates are only this and last year starting to react to spiking demand, so there’s still room for a big jump in appreciation I think. Add in Jug Handle Bridge and some other major investments in the area - it’s an exciting time to invest on Hatteras.

The biggest con to OBX is labor shortage from spiking demand. I’ve found that a segment of the community also has a disdain for STRs even though tourism entirely drives the economy, which is different from the very positive community vibe around Smoky Mountain cabin STRs. I don’t think it will affect regulations for properties that are clearly STRs, but the battle between longterm rental housing and STRs is something to be aware of on OBX. Also everything on Hatteras is dated and needs more reno than turnkey cabins, but even houses that look condemned have 100% peak month occupancy which is wild.

How many adult couples usually make up a party of 9-10 people? 3 couples and 3-4 kids? I was thinking that it could be fairly common to have a mixed crowd of extended family, like 2 couples, some kids, and 1-2 singles or young adults.

Wondering if there is merit to 2 king rooms, a bunk room for kids, and an all-purpose 2 doubles room (plus a queen pull-out couch in the living area). Or maybe the queen pull-out accomplishes the young singles/older teenager quota so you can go with 3 kings plus bunk room.

Either way I’m leaning toward bunks being more valuable than a 4th king.

Great thread - I'm actually wondering the same for an OBX house (doing my first 4BR). While it's somewhat different, following this thread.

Don’t the rates for these loans go up by at least a half a percent on Monday?

I got my first one by calling my agent within 60 seconds of getting the MLS alert via the realtor.com mobile app, and we had a written offer within 20 minutes. I was lucky that the seller took my offer.

Many of the good ones on the MLS set a day and time for offer deadline and you compete against 10-20 offers.