All Forum Posts by: Casey Nordendale

@Tomas Chao: Thanks so much for the thoughtful reply. House hacking makes a ton of sense to me and that would actually work out really well for us. In an ideal world, we would be able to free up some cash from the equity in the house we now live in by doing this and use it to make some deals. We are going to be flying into Charlotte on July 7th and will be going to a REIA meeting that night. We will be in NC until the 13th and are not sure how we are dividing up our time between Charlotte and Asheville but we know that we are going to An REIA meeting there on Monday the 11th. I will check out Meetup too and see if there are any others that make sense to go to.

Thanks @Paul Timmins and @Ayodeji Kuponiyi

Great advice and I will follow it. 

Michael, thanks for the advice and encouragement. BP has been such a great resource for education and networking. We are still a little ways out before pulling the trigger and building our team will be important between now and then. 

The rehab part of this sounds like it can be tricky. I have heard that you should double both the cost and time estimates that you get when budgeting for a property. I guess that makes sense. I am handy (plumbing, electrical, general DIY) but will have to sub out anything major since I am full time in a tech consulting job. 

Good luck to you as you continue to recover from the stroke and in whatever you do next. Thanks for making contact. 

Best regards, 

Casey Nordendale

I forgot to add that we are traveling to Charlotte and Asheville in July and will be going to a REIA meeting in both cities as well as meeting with a prospective real estate agent. We also plan to drive around the neighborhoods and learn the market.

Hello everyone. My wife Julie and I are newbies and are interested in residential real estate investment in Asheville, NC. We plan to move to Asheville in Q1 2017 but are worried about whether or not it will prove to be a difficult city to find properties that cash-flow. In an ideal world, five years from now we would own five, or more, residential investment properties in Asheville. For those unfamiliar with Asheville, it is a wonderful and beautiful place. Not coincidentally the real estate market there is hot, hot, hot… but seemingly not all that big. We are newbies and have not purchased real estate other than a condo we lived in in Chicago, and our home in St. Paul, MN, where we live now, so this freaks us out a bit.

We had planned to move to Asheville prior to being bitten by the real estate investment bug. Since being bitten, we have been doing our due diligence educating ourselves. We each have a stack of books that we are reading. So far I am have read: The Wall Street Journal. Complete Real-Estate Investing Guidebook, by David Crook, Rich Dad Poor Dad, by Robert Kiyosaki, Real Estate Investing for Dummies, By Eric Tyson, Buy it Rent it Profit, by Bryan M. Chavis, and I am at the end of The Ultimate Beginner's Guide to Real Estate Investing, by Bigger Pockets. I have a lot more books on the book shelf ready to go and additionally we have been listening to Bigger Pockets Podcasts, watching Bigger Pockets Webinars, and going to REIA meetings. During our crash course we have learned a ton but two big themes seem to have immerged: 1) Buy properties near your home (especially if you are a newbie) and 2) Do your math correctly and only buy properties that meet the 70% rule.

I know nobody knows the future, and nobody can really offer more than an opinion but among the more experienced of you out there, will Asheville be a hard place to accomplish our goals? Is it too competitive there? We have great credit but will it be harder to get financing in such a hot market? Will we need to put more down when we buy properties? In short, would it be smarter to buy less expensive properties in a more affordable location? Would we be smarter to buy in nearby Charlotte? Or is two hours away too far for the newbie? 

@Jared LaLonde - Thanks!

@Patrick Campbell Thank you!

@Amber Morfitt Thank you!

@Ross Gregerson, I will send you a PM. 

I am looking for an HVAC person in the Twin Cities area. Does anyone know of a good, but reasonably priced, contractor/HVAC guy? 

I am also looking for someone to replace a skylight so if anyone knows of someone (handyman, roofer, etc...) that they can recommend, that would be very cool too!

Thanks!

Brandon or Bryan K. Did you have that contact by chance? I could use it too. Thanks!