3 Variables for Carolina Beach Vacation Rentals to Make MONEY
This post will go into detail on what makes money with Carolina Beach condos. So real quick, I’ll point to you here. You want to go down to about Carolina Sands Drive all the way up a few blocks north. Here, let’s see if I can even zoom in a little bit. To around – what street is this again? I keep forgetting the name of these little streets, Pelican, maybe Dolphin Lane. And that’s where you have your highest dollar paid for these vacation rental properties that are between 200 and 250,000.
You can find all the oceanfronts in North Carolina here:
Now, how much do these suckers make? Well, I found a lot of oceanfront condos and they were bragging about 13, $14,000 gross rental income and I’m thinking, “You’ve got to be kidding me. That’s nothing. That’s a horrible return.” And then after looking into it further and talking to property managers, I’ve found out, well, in this area, these two bedroom, two bath units between 200 and 250, if they have the right – fit the formula, they get anywhere 25 grand or 32 grand in gross rental income each year.
So step number one, they need to be in this little window, preferably, for the snitch of investment property. Number two, they need to have a community swimming pool because that will bring up the rental value for that week another $100 or $200 a week. Because people with kids, not only do they want the beach and the boardwalk, they want to have a community, they want to have a little pool because that’s where their kids want to go. It’s ironic. You go to the beach and you’re kids want to go to the pool. It drives me crazy as a parent. I think some of you know what I’m talking about.
And then number three, you want to have the right – well, let’s make it four variables. Number three, if possible, you want to have your condo allow pets. If you have the option, you want to allow renters to bring a dog to your rental. That is high demand. There’s very few units that allow people to bring their pets, yet people want to bring their pets on vacation. Let me tell you, that will give you another, whatever it is, 100 to $200 a week in rent.
So, there’s your three. You want it in the right location, you want it to be oceanfront of course, you want it to have a pool and if possible allow pets. Number four and this is very important, you need to have the right property manager because I found units getting14 grand and others getting 25 grand. What’s the difference sometimes? The property manager. You need to have the right property manager. I know who she is and I know what the company is and if you work with me as an investor, a buyer looking for a second home, a beach getaway in Carolina Beach, I will direct you to the right property manager so that you have a successful oceanfront investment property in Carolina Beach.
I’m going to show you two examples. Right here is – here we go. I want to show you two examples. Here’s a sold recently for 225 and this is oceanfront and they – here right here, they brag about the pool and a couple of pics of it. There’s your pool. Let me go find out some of the views from the unit itself. You know, this one doesn’t offer me pictures, pretty pathetic. All right. So it’s not even a top floor unit. Interesting. Ideally, you’d be on the second or third floor. This is the ones at Carolina Beach.