All Forum Posts by: Cassandra Reynolds

 Yes, I would want to rent it long term. It was considered a 2 bedroom 1 bath when I bought it, but has a small bonus room that I use as a nursery. So...3 bedroom? 1100 sq ft in Woodfin. Good neighborhood, less than 15 minutes to downtown Asheville, maybe 10 minutes to downtown Weaverville. How much do you think it would rent for? I haven't really dug into this point yet.

Hello @Scott E. To answer your questions:

-Value of your current home: Appraised last year at $230k

-PITIA payment on your current home: just under $600/month

-Age/condition of your current home (is it rent ready?): 1950's bungalow, not fancy but in good shape. Updated windows, new roof, etc. 

-Estimated rent rate of your current home: Based on comparable properties in the area I expect it to rent for about $1400/month. 

Hi @Doniel Winter, thanks for your response. I have considered an ADU but I don't think my property really lends itself to that. It might just be a failure of imagination on my part, but I can't see it:)

Hello @Mitch Davidson, thank you for taking the time to outline all of those branching options! I'll definitely look into the area meetups you recommended. I'm definitely leaning towards relocating to a new primary. My current home is relatively close to downtown Asheville. With only minor updates (mostly cosmetic), I could easily rent it out. Thanks again for your help.  

Hello, I have been listening to the Bigger Pockets podcast, trying to chip away at my ignorance when it comes to all things real estate. I own my home. It's got enough equity in it that, theoretically, I can manage a down payment on a very modest second property. I'm open to either making the new property my permanent residence and renting out my current home or vice versa. My understanding is that I'd probably get a better loan if the new property were considered a primary residence. However, if I'm actually living there, then the house has to be in a very specific geographic area since I am a single parent working full time relying heavily on family for childcare. There's not a lot of margin for error :) I'm looking at livable fixer uppers just north of Asheville and, to be honest, feeling a little out of my depth. If you made it this far, thanks for reading!