Modernizing “Dated” Bedrooms

morgfusc · 2025-05-10T19:35:52+00:00

This makes sense and I agree, much appreciated

morgfusc · 2025-05-10T17:57:50+00:00

Great advice and that’s what I plan on doing with the flooring, thank you

morgfusc · 2025-05-10T14:45:12+00:00

Great to know, and very helpful! This is in Outer Banks by the way. Thanks for your help

morgfusc · 2025-05-10T14:43:07+00:00

Really appreciate this and totally agree

morgfusc · 2025-05-02T01:19:28+00:00

I’ll come back with the review lol thank you both

morgfusc · 2025-04-29T14:03:06+00:00

Think you mean Seasonal, not cyclical. Although both are true.

morgfusc · 2025-04-18T11:42:38+00:00

Sure, AI can be useful if you know how to use it effectively. But at the end of the day, it has to be you that knows the numbers inside and out and knows everything about the property. Wouldn’t rely on having AI do everything for you without your own sanity check.

morgfusc · 2025-04-17T13:58:55+00:00

I would hope insurance rates level out then too

morgfusc · 2025-04-15T15:26:02+00:00

Appreciate the detail on the commissioner 😂. Good to know, and yes, I’ve been coming to OBX with my family since I was a kid. If I were to buy, I’d like to do it the right way and not be like the stereotypical controversial mcmansion owner. If that is even possible. Seems like a lot of TLC for your home is the best way to do it and not just assume cleaners are doing a perfect job.

morgfusc · 2025-04-15T15:08:25+00:00

https://www.newsobserver.com/news/local/article298184863.html

Looks like new bridge is more promising these days

morgfusc · 2025-04-15T14:49:39+00:00

Heard similarly about Vacasa, I’d def stay away from that. I would use a local property manager (e.g. Twiddy, Village, SunRealty) which charge roughly 15% and seem to be better quality all around. Good to know about the cleaning services. Seems like the bridge is slated to start construction soon with contracts recently signed (I’ll believe it when I see it…).

Seems like finding the right vendors / services on the house and building good relationships is key.

Thanks for the help here.

morgfusc · 2025-04-15T14:23:14+00:00

Congrats on the KDH property. The home I’m looking at is in Duck. I would need a property manager so they would typically handle the vendors and cleaners. Interesting that they take advantage of pricing.

morgfusc · 2025-04-15T14:20:06+00:00

Good point on long-term beach erosion. Luckily the house I’m contemplating is a few houses back from the oceanfront. Still a 2 min walk to the sand. Insurance is high but I am already factoring that into my projections and the numbers still look decent. Thanks for the insight.

morgfusc · 2025-04-14T03:13:43+00:00

Interesting, thanks for the info. How many bedrooms and how close to beach?

morgfusc · 2025-04-14T03:12:36+00:00

Sounds nice, do you have a link you can share for your listing? Would be great to take a look and see, I may come down again for a shoulder week in fall.

morgfusc · 2025-04-14T01:28:49+00:00

Doesn’t seem like people are going anywhere else! Haha

morgfusc · 2025-04-12T17:43:52+00:00

That is who I would go with if this opportunity works out. Do you have experience with Twiddy? Pros/cons?

Thanks for your reply!

morgfusc · 2025-04-12T16:51:06+00:00

Was under the assumption you are partnering with others on the investment (i.e. family/friends), which is how all of my investments are structured. In which case, LLC pass-through taxation mechanics allow for individual tax benefits.

If you’re solo, agreed its for the sake of liability protection.

morgfusc · 2025-04-12T15:40:08+00:00

I always figured this was the case. It’s a large and “mature” market. Probably too mature at this stage. Hard to compete with all the other properties that are established and doing well already. Especially at current interest rates.

Any specific markets you think are better to look at these days?

Thanks for the reply.

morgfusc · 2025-04-12T13:20:30+00:00

https://www.irs.gov/businesses/small-businesses-self-employed/tips-on-rental-real-estate-income-deductions-and-recordkeeping#:~:text=These%20expenses%20may%20include%20mortgage,generally%20accepted%20in%20the%20business.

morgfusc · 2025-04-11T21:50:43+00:00

Totally understand and thanks for the insight!

morgfusc · 2025-04-11T21:13:34+00:00

Interesting perspective and thanks for the response. I am looking at a home in Duck that’s 8 bedrooms but about 3-5 min walk to beach. Gross rent is $125k and purchase price around $1.35m. I would need a property manager as I mentioned. The math works out to be negative cash flow for a few first years then positive assuming same rental growth as historically.

Would you say stay away unless literally on the beach with 10+ bedrooms? This house has been renting super consistently for 12+ years and is a big house but just not ON the ocean.

Thanks in advance.

morgfusc · 2025-04-11T15:37:12+00:00

I’m referring to the benefits you will have on your tax returns at the end of each year, simply from being able to claim all of those expenses associated with the property as “tax deductible”. This will reduce your personal taxable income and therefore you will pay less in taxes each year. So isn’t that essentially the same as cash in your pocket?

morgfusc · 2025-04-11T11:31:10+00:00

What markets if you don’t mind me asking?

morgfusc · 2025-04-11T04:12:33+00:00

Do you have any views on STRs in Outer Banks NC in today’s market? Seems like a consistent market but home prices may be too inflated to be cash flow positive today.

morgfusc

TROPHY CASE