All Forum Posts by: Ryan Howell

We just do a $200 pet fee up front. So far I haven’t had any issues although I’m sure we will at some point.

I have had good luck in Hendersonville and Brevard and I think Waynesville has opportunity. Off market is your best bet. If it is on the MLS and a good deal you really need cash offers within a day of the listing and most likely it will need to be a value add deal that needs work. That said all of my deals have beat the 1% rule but I have yet to find one in Asheville so far.

Welcome.  Feel free to reach out.  I'm also investing in the area.  I recommend getting involved in CREIA here in Asheville.  You can meet a lot of other investors and contacts in the area.

@Zack Heath that’s always a risk you have to weigh.  Consider it as opportunity cost.  If you know you can refinance it’s probably worth it.  That’s the bigger risk because there will always be another deal.  I’m always passing up deals while my capital is tied up.  

@Zack Heath Sounds like a good BRRRR candidate and you can pull your capital back out.

@Craig Ruhland  I use a PM who has their own lease, but from what I’ve heard the NC lease is a good starting point that you can add on to as you go and gain experience.  Feel free to message me, I’d be happy to grab a drink and talk real estate sometime.

@Craig Ruhland PM me and I’d be happy to talk more.  I’m about to buy my first ones in Brevard and I completely agree it seems to be a great location. 

My recommendation is to assess the property as if you did not own it yet to help give some clarity.  Would you buy it as a rental with those numbers or flip it?  I have one as well that likely I will sell because it does not meet my criteria as a rental, but I can still make money on the property flipping.  I would likely sell it and utilize the cash for buying rentals that do meet your criteria.  Take into account the potential missed opportunity costs you may miss out on by keeping your capital in this deal.

All that said, that doesn't mean that I would sell right away.  I might would try to live in it long enough to avoid capital gains.

@Evan Morales. I’m pretty sure it is illegal in city limits with $500 per night fines. I’ve been told they recently hired additional full time staff with the City to monitor short term rentals. I personally don’t have experience, just relaying what I’ve heard.

@Frank Wolter. Out of curiosity does anyone ever attempt to contact the seller directly if they feel they are in these situations? I’ve on occasion just called the seller if I could find a contact number and verify they know who I am and my interest in their property. I haven’t been in this exact situation but I have been in situations with very poor communication between realtors. Sometimes it seems to have been helpful. I know of people who have done this after submitting offers to find the seller never received the offer from the realtor.