All Forum Posts by: Casey Nordendale

Hello everyone. My wife and I are re-locating from St. Paul, MN to North Carolina sometime around Q1 2017. The plan is to move to Asheville but the plan is also to start investing in residential buy and hold real estate. From the homework we have done so far, the two goals may not mix as well as we had hoped. The inventory in Asheville is so low that it is very hard to find properties that will cash flow. For this reason, we are looking at neighboring towns and cities to invest in as an alternative. As the largest city in the area, Charlotte is definitely in consideration. We could potentially move to Charlotte for a couple years and house hack, while we establish ourselves and build a local team before moving on to Asheville.

I would love to hear from some local investors in Charlotte on any or all of the items below:

What is your opinion of the market? Can you find properties that meet and maybe exceed the 1% rule?

Are there particularly good middle class family neighborhoods that I should look at?

Does anyone have an agent that they like doing business with that I could connect with?

Or anything words of wisdom that you would like to pass on.

We are going to be in town in July and plan to attend a CRIA meeting when we are there. We also plan to research neighborhoods.

Best, 

Casey

Everyone, I really appreciate all the feedback. Lots of food for thought. 

Hi everyone, I am new to this game and my wife and I were looking to buy our first buy and hold residential property in the next year or so. As we have been educating ourselves, it has become clear that as a best practice, you should live near the area that you own properties. It sounds like this is especially true if you are a newbie. So the question is, how far is too far? How often will a land lord need to be at a property once it is past rehab and is fully rented? I am looking at living in Asheville, NC and properties in Asheville may not be as good an investment as they will be in a number of neighboring communities. Charlotte is about 2 hours away and has an abundance of deals that would cash flow. Is that too far? I know that there will be a lot of perspectives and that there is no "right answer" but any feedback from experienced investors would help provide some much needed perspective. Thanks!

@Chris Harjes, so have you considered other areas nearby? 

@Kyle H. I just started a new forum discussion on this topic, this time with Asheville in the title. Let's see if there is more info on areas around Asheville that others have found to be good. 

Hello everyone, my wife and I are planning to move to Asheville, NC around Q2 2017 with the hopes of house hacking in a Duplex or other multifamily property. Once over this hump, we plan to begin investing in buy and hold residential real estate properties but are concerned that Asheville may be a hard place to find cash flowing properties since the market is so hot. I thought it might be an interesting discussion to find if others have found some areas surrounding Asheville that they have had success in. What areas around Asheville are projected to grow over the next 10 years where prices are not already badly inflated? Also as a side bar conversation, does anyone know of any up and coming “Ashevilles” in the vicinity? 

Thanks @Kyle H.

@Michael Tierney, that was exactly the kind of info I was looking for. Thanks very much for your reply Michael. 

Thanks @Jill DeWit

Thanks @Kyle H., interesting idea. I would expect the surrounding area to grow considering how popular Asheville is.  I see you live in Bryson City which is about 90 minutes west of Asheville. Is that were you have been investing? Do you have any recommendations on areas I should drive when I am in town? Asheville is basically the intersection of Interstate 40 and Interstate 26 and has a lot of surrounding towns. I have seen some activity in Black Mountain to the east but there are a lot of other areas including Weaverville, Fletcherville, Hendersonville, Waynesville, Lake Lure. Any thoughts or other areas?