All Forum Posts by: Amy Osterberg

sears outlet (check for sales too), habitat restore, craigslist

I've got one vacation rental in FL and am working to buy one in the NC mountains.  We live in Charlotte so my target is Blowing Rock/Boone for convenience to Charlotte, skiing in the winter, cooler temps in the summer, etc.  It's very beautiful in all those areas.  In my research, for renters - I see the most demand for views, easy access - a road that does not require 4 wheel drive in winter, fire pits and hot tubs.  This vacation rental area has exploded - so there are now quite a few cool tools to see what you can expect for rates and occupancy by address or zip code - just do some web surfing and you'll be amazed.    https://www.airdna.co/region/us/north-carolina

This site has a lot of info too:  http://www.rented.com/ultimateguide/

This one has a calculator to estimate income - I was surprised at low occupancy (28% for Blowing Rock/Boone vs. about 70% in Florida)...  https://www.airvestor.com/airestimator/

But I think Asheville would be better.  

Definitely check out the legality of short term rentals where you are buying... that issue is my nightmare right now in FL - where the city only pursues short term rentals based on neighbor complaints.  Thousands exist but I live next door to Mrs. Kravitz.  

Recently won an auction.com house - lower than the reserve, but wells fargo said yes to my offer.  I'm not currently in the same state as the property (have been at our FL house since bidding on the house), but my husband did some recon in Boone NC and talked with a neighbor.  The occupant is not the original owner - they skipped town when their business went under.  There are now squatters in the house.  I suppose they could have a lease?  But I think since the original owner is completely gone , skipped town and owes even his neighbors money - I doubt he's leased the house out.

I have hired someone to handle an eviction for me before... (although that was in Charlotte and I'm not sure he'll travel to this house - 2 hours away).  Could someone spell out the recommendations step by step?  I don't have any idea who these people are - do I just post a notice on the door?  Any way to find out who is living there?  My husband did get a photo of the license plate.  

I've tried to read here as much as possible, so I understand I might try the "cash for keys" approach.  I maybe can also call the sheriff and state there are trespassers... but from the photos they have a LOT of stuff there.  They run a business collecting junk furniture - so I imagine the house could be full.  I supposed I can also send them some very official sounding letter about needing to vacate the premises.  Does anyone else get nervous the people might be violent?  Am I just being a chicken?  

Any other recommendations?  Closing is in 3 weeks...  just planning ahead.  Anything I can do now to speed this along?

Don, I have a vacation rental (less than 30 days) in FL, I have two short term rentals (more than 30 less than 365 days) furnished places in Charlotte - one in Dilworth and one in Elizabeth.  The short term rentals have been typically rented by someone in town for business for 3-9 months.  Then we've got two properties - unfurnished, that have min 1 year leases.  For the short term, I pay all utilities and furnish the house (including dishes, small kitchen appliances, etc) - and increase the price quite a bit.  It's relatively new to me - so I think both tenants are the first in each space.  My place in Elizabeth will be vacant next month, so just reposted.  I get very high demand in that area for long term too - but now that it's furnished, I'm not all the keen to remove all the furnishings - although I might since I'm looking to do a place in Boone NC and could move it all up there.  I have 2 boys plus 3 step kids - so although all these furnishings might be a hassle down the road for someone else - I expect we could unload it all pretty easily as our kids grow up, move on & out.  :-)

Hi Amy, I'm not far from you, in Charlotte NC.  I love the design part too - it's one of the reasons I've converted a couple of my long term rentals into short term furnished (high rent and it's fun to furnish and decorate).  I'm new to the site  - just joined last week and have found lots of great resources here.  

It's pretty easy to file LLC paperwork on your own... I did for our second LLC and wondered why I spent so much money to have an attorney do the first.

I've never heard of that kind of arrangement with a handyman - but you may find someone willing - however, I don't think they would be qualified.  A good handyman is going to want to be paid asap and be pretty busy - especially with the Charlotte market right now.  I think you're better off to find a good team (plumber, electrician, HVAC, framer/carpenter, and handyman if you're not planning to do any work yourself) and try to establish a long term relationship.  

Hi Melani, I'm new too - in Charlotte.  Great job on starting renovations so early.  I started in my early to mid 20's.  Your training runs sound like a great idea to get to know various areas.  

@Sterling Cox, The vacation rental market in FL is not my target right now... there's too much turmoil with respect to legislation at the state and local level. St Pete has a restriction on vacation rentals that is in conflict with the state law... I'm looking to buy another long term rental in Charlotte or possibly a vacation rental in the NC mountains. For St Pete - from Charlotte, I can get a $40 flight on Allegiant - so it has not been too inconvenient... but NW Florida would require a long drive. I have looked though... Panama City has a pretty good ROI on vacation rentals. Just doesn't work for me right now though.

I'm interested as well...  I'm targeting in town neighborhoods within 5 miles or Charlotte - but as I'm sure you know, the deals these days are few and far between.  

Congrats!