So, you're thinking of purchasing a potential rental property in Southern Shores. Historically, real estate investments have proven to be a wise investment strategy. The name of the game has always been maximizing cash flow. Years ago, one could realize a healthy rate of return based on cash flow generated from rental income alone, however, with rising property costs, the number of beach properties with a substantial positive cash flow are dwindling.
Purchasing an Outer Banks rental property has proven to be a wise choice in today's investment world. This is evident in the number of investors that continue to re-invest in the market. With property values half of that in other coastal markets and historically low interest rates, there is still a fantastic opportunity for growth.
For the 1st quarter of 2008, the Outer Banks MLS statistics for Southern Shores the average sold price percentage to original list price is as follows:
Before you buy, I would like to suggest a few things for you to consider. However, you may already be working with a real estate broker and it would not be ethical of me to interfere. If you have not already signed a â€œWorking with Real Estate Agentâ€ and â€œBuyerâ€™s Agreementâ€, I would love the opportunity to do a FREE Comparative Market Analysis (CMA) and Cash Flow Analysis (CFA), for the property that you are considering purchasing.
You can visit my website at http://www.nagsheadhomes.com
to read ABOUT ME or you may contact me at:
Hugh â€œScooterâ€ Willey
Sr. Assoc. Broker ~ Licensed NC Builder
Feel free to search my website 24 hours a day, the Outer Banks MLS, on my website.