All Forum Posts by: Christian Longacre

Hey Max, welcome to Asheville! The only local meet-up I know of is CREIA. I’ve gone to a few of their meetings in the past and plan to attend more this year. Your direct mail experience could be a huge asset in this market since MLS deals are scarce. Let’s try to meet up for coffee sometime!

Hi Amanda,

I own SFRs and a duplex in WNC. I don't think you can go wrong as long as you buy it right, which will be critical with your 3-5 year timeline (and tax efficient!). The rental market is hot in WNC, and good deals are scarce on the MLS. There are definitely MORE SFRs available, since I think most multi-family investors have little incentive to sell right now (rents are good!). I'm trying to read-into your strategy a little bit, but I think you'd be well served by forcing appreciation on a SFR.

I own property in Arden and Hendersonville.  What locations are you considering?  PM me and we can talk about lenders, contractors, etc.

Hi everyone, just wanted to close the loop on this one and let you know how it went.  I got a quote for the replacement windows and approached the tenant with a few options.  She understood that this is an expensive upgrade and that she agreed to rent the unit in its current condition.  Ultimately she decided to keep her current lease and her current windows.  Thanks again for the advice!

Hey BP Community!  

Does anyone have experience with building and renting a detached ADU in Buncombe Bounty NC (outside Asheville city limits)? I'm currently discussing this with my lender, builder, etc. but definitely looking for advice in a few key areas.

1.  Working with the county (potential pitfalls, etc.).  I'm already good to go w.r.t. zoning regulations.

2.  Building cost effectively for a residential rental.  I'm in a great school district in Arden, and I'd like to hit the 1% rule.

3.  Any "been there, done that" stories ... what went well, what would you do differently next time?

Thanks in advance for your input!

Many sellers would rather give a $500-$1000 closing credit in lieu of making the repairs themselves. That negotiation is typically done while you are still in due diligence. Are you using a real estate agent? If so, I'd get your agent's opinion on your exact circumstances.

Does anyone know if permits or licensing are required by Buncombe County for Airbnb and other short-term vacation rentals?  Is a business license required?  I called the permit office and the girl I talked with wasn't aware of any required permits.  I know that the city of Asheville requires a permit, but my property is outside of the city limits.

Thanks in advance for the help!

In a recently purchased property, I inherited a good tenant who is 1 year into a 5-year lease.  She's related to the previous owner, and the monthly rent is probably $200 below-market.  I like her as a tenant, and she really likes her apartment and the location -- she's retired and says she would like to stay for many years.

In a recent conversation, she mentioned that the old single-pane windows and doors are drafty in the winter (not uninhabitable, just drafty).  Normally I think that's a renovation I would do in-between tenants, and my understanding is that she agreed to lease the property in its current condition.  This is truly a "discomfort" issue and not related to safety or habitability.

I think there's an opportunity to renegotiate the monthly rent in exchange for making the upgrades that she wants, and it's an upgrade that I wanted to do anyway.  Does anyone have advice on renegotiating a lease that could help with my situation?