Curious what your numbers ended up looking like on this deal?? I am from Watauga County, born and raised. I really feel this area is a much better fit for either fix-and-flips or AirBNBs. I can't begin to figure out how people really make money long term on standard long term rentals up here. The property prices are absurdly high compared to what you can get for rent from people for those properties. How did this flip end up going?
I have myself have 11 rental units, but all outside of the county. MUCH better return for the money, as far as long-term rentals go.
Curious what your numbers ended up looking like on this deal?? I am from Watauga County, born and raised. I really feel this area is a much better fit for either fix-and-flips or AirBNBs. I can't begin to figure out how people really make money long term on standard long term rentals up here. The property prices are absurdly high compared to what you can get for rent from people for those properties. How did this flip end up going?
I have myself have 11 rental units, but all outside of the county. MUCH better return for the money, as far as long-term rentals go.
Funny you wrote that 2 yrs ago. Asking prices in Blowing Rock for many properties have doubled or more in just two years. It's no longer about investing, but sky-high speculation that someone will bite on a $300k home being offered at $750k.