All Forum Posts by: Daniel Williams

Hi BP!
My name is Kaitlyn and I’ve been listening to Bigger Pockets for the past few months and am learning as much as I can about real estate investing!
I’m an Asheville native and recently inherited a home on 5 acres that I have been renovating for the past year. It’s almost finished and I intend to rent it out. Also on the property, is a detached garage and a 2 story barn, both which have electricity and are in great condition. 
I'm looking to explore options on how to best use the equity and potential in my property. I've considered converting one of the buildings into an ADU, or subdividing and selling part of the land, or pulling equity out of the house to invest in another property. The house is paid off but I took out a $50k loan from a family member for the renovations that I need to pay back within the year.
Since I don't intend to live in the home, and I've been on unemployment for 6 months due to Helene (just found a new job but my income wasn't what it was pre-flood), a DSCR loan seems like my best choice.
I would love to hear from investors in the area on what my next steps would be to capitalize on this unique property. It is outside city limits near the French Broad River in Woodfin (no flood damage). Thanks in advance for any advice or ideas you have!