Unique situation in Asheville, NC - Investing/buying for AirBnb

[Andy Blackburn]

Hi there,

Looking for a co-owner/investor/live-in property manager - I'm looking at buying an SFR in Asheville, NC, to use as a homestay (one permanent resident will live in the property, and one or two rooms will be rented on AirBnb.) But I have a slightly unique situation - I'm planning on shooting a feature film in Asheville in March 2023 - so the plan would be that I would fund the downpayment on the property - we'd rent it out on AirBnb up until March, then I'd shoot the film in the house during March (it's a feature length comedy drama). The house would revert to homestay AirBnb from April 2023 onwards.

I'm looking for creative solutions to make this work - how to make a deal with a co-owner that is mutually beneficial. It may be right for someone who is looking to get into BRRR's or just someone who wants to get on the property ladder, or have low rent while managing a homestay - there are a number of different ways this could work.

My long term goal is to have an income from the property that covers the mortgage and then some - and a place to stay when visiting the area.

Any and all thoughts and ideas, good or bad, much appreciated.

Thanks for reading,

Andy

[Mitch Davidson]

Agreed. I too would focus on one of the many areas that are just 10-30 minutes from downtown yet aren't in Asheville city limits. Otherwise, if you're intent on being inside city limits, I would recommend doing furnished monthly (i.e., mid-term). I have a home like that myself, inside city limits. Happy to discuss more if you want to call me. And @Christian Longacre would be an excellent investor agent to help you find the right place.