Asheville, NC and around - Invest

[Vikas Grover]

Hi

I am looking to invest in Asheville NC. (#Asheville, NC)

Looking for following info to begin with:

1. Any turnkey providers in Asheviile NC area?

2. Good property managers in Asheville NC area?

3. Good zip code/areas to look for properties with good cap rate?

Best Regards, Vikas

[Ryan Howell]

@Vikas Grover - I assume you talking about long term rentals such as multifamily, and not short term vacation rentals.  I'd recommend TonsofRentals.com.  They manage my properties currently.  You're going to get better cash flow in secondary markets around Asheville.  Cash flow is tough to find unless you are willing to do value add. 

[Vikas Grover]

Hi @Ryan Howell. Thanks for responding. I was going for long term rental investment. 

Is tonsofrentals.com property management for vacation/short term rentals? (From website it looks like that).

What secondary markets would you point me to?

Thanks again Ryan. 

[Kai Kopsch]

@Vikas Grover I love Asheville, NC but it's not a great long-term rental market. Asheville has a strong seller’s market with inventory levels remaining low and multiple offer situations average sales price is $560,229 and the average monthly lease is $2007. Outside of Ashville in Buncombe County has almost the same average sales price $528,345. It's a great market for short-term rentals. 

[Jon A.]

@Ryan Howell, how do you like tonsofrentals so far? I have self managed for 15 years and it is getting to me. How are the fees structured and how do they handle repairs? Feel free to pm me if that's better. 

[Mitch Davidson]

@Vikas Grover: Agreed with @Ryan Howell and @Kai Kopsch This is definitely not the time to buy SFR to LTR in Asheville or near Asheville, unless you can find something dilapidated for very cheap (unlikely) and BRRRR it.

[Ryan Howell]

@Vikas Grover - Overall, they've been good to work with.  I think like many places, they've had some staffing shortages last year, but that seems to be resolved.  To echo @Mitch Davidson - LTRs here are difficult. Everything I own is multifamily with value add. It can be done, but its not as simple as buying single family turn key homes off the MLS. For that reason, there aren't many (or any that I know of) turn key providers.

@Jon A. - I'll message you.