North Carolina Re-Introduction

15 Replies

Hi Everyone, 

I'm Tyler, I've been a member for awhile now but I had some family issues and moved from Iowa to North Carolina, and kind of fell off the map in the process, so I thought I'd reintroduce myself.

I have been looking at real estate investments for about 5 years now, but I have used the excuse of relocating for work to avoid actually getting started.  In Iowa, I spent a lot of time looking and made a number of offers but never made a deal.  Then the opportunity to move to North Carolina came up and the Real Estate investing got put back on hold.

Now that we're settled in Asheville, NC (and plan on staying put for a long while!), I am ready to get back into the hunt and more motivated then ever!  I am primarily looking at single family or small multi-family investments to start with.  Have mostly thought about long term rentals, but given that I live in a 'touristy' area for the first time in my life I am also starting to research vacation rental valuation as well.  

Looking forward to connecting with the people in the BP community and learning from other's experiences/adding some value where I can as I get restarted in REI!

Welcome "Back" @Tyler Woodson

Don't get stuck in that analysis paralysis, the only thing that will prevent you from finding a deal is yourself. 
I'm just on the other side of the Smoky's from you and occasional take day trips over towards Asheville. 
I know the STR market is strong on this side of the Mountains so I'd have to assume it's pretty good over there as well. Definitely an area I plan to look into before to long myself.

@Tyler Woodson Narrow down and pinpoint what your target property is, find it and pull the trigger. I’m only about 3 hours from you and am open to investing in other parts of NC if you are looking for a deal partner on your first one. We are on house 9, mostly flips but in the process of renovating a house right now that will be our first air b&b/short term rental.
Originally posted by @Derek Tellier :

Welcome "Back" @Tyler Woodson

Don't get stuck in that analysis paralysis, the only thing that will prevent you from finding a deal is yourself. 
I'm just on the other side of the Smoky's from you and occasional take day trips over towards Asheville. 
I know the STR market is strong on this side of the Mountains so I'd have to assume it's pretty good over there as well. Definitely an area I plan to look into before to long myself.

Thanks! I couldn't agree more, I'm a finance guy by trade and analysis paralysis is my biggest enemy, ready to kick that and dive in.

Originally posted by @Walter Ciucevich :
@Tyler Woodson

Narrow down and pinpoint what your target property is, find it and pull the trigger. I’m only about 3 hours from you and am open to investing in other parts of NC if you are looking for a deal partner on your first one.

We are on house 9, mostly flips but in the process of renovating a house right now that will be our first air b&b/short term rental.

Thanks Walter, love this advice, spot on to what I need to focus on, now I just need to do it! 

Originally posted by @Courtland Clavette :

Tyler,

Check out the CREIA group in Asheville. There are regular monthly meet ups  for various levels. I am looking for my first property as well and open to anywhere in the region. Focusing on multi family rentals. Here is a link to the meet up page. Hope to see you next week!

https://www.meetup.com/Carolina-Real-Estate-Investors-Association-CREIA/events/

 Thanks, I'll check that out!

@Tyler Woodson Welcome to NC! You landed in a beautiful part of our state. I heard a rumor that Ashville was cracking down of STR and were not allowing new ones (although I'm not sure how anyone would be able to tell if a house was a new one or old one). Have you heard anything like that?

Originally posted by @Dawn Brenengen :

@Tyler Woodson Welcome to NC! You landed in a beautiful part of our state. I heard a rumor that Ashville was cracking down of STR and were not allowing new ones (although I'm not sure how anyone would be able to tell if a house was a new one or old one). Have you heard anything like that?

@Dawn Brenengen, Thanks! Yes Asheville proper is cracking down on STR, my understanding was the same as yours regarding no new STR. From what I have heard from others, this is only enforced if there are complaints from neighbors or the community. Have read some speculation that other towns may follow suit (Black Mountain, Hendersonville, etc.) depending on how this change goes for Asheville.

Those type of regulations are definitely something that scares me about STR in the area, if I go that route my plan is to work with properties that are a little more rural to have less concerns about regulation (but that probably comes with other headaches!)

We all experience setbacks. It’s all about the come back that matters. Full steam ahead!

Glad to have you back!

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