All Forum Posts by: Derek Robinson

@Jordan Lockaby and I are taking a step forward towards creating a Bigger Pockets Meetup here in Asheville, and would love for you to be a part. While there are other investor groups in our area, we think the BP crowd attracts its own flavor of folks, and we want to provide a space for us.

@Jordan Lockaby and I are taking a step forward towards creating a Bigger Pockets Meetup here in Asheville, and would love for you to be a part. While there are other investor groups in our area, we think the BP crowd attracts its own flavor of folks, and we want to provide a space for us.

Hello Bigger Pockets Asheville Enthusiasts,
Thanks for taking our survey and expressing interest in a BP Meetup!
A few highlights...

87% of you want in-person events

87% suggested a brewery for locale

73% suggested a coffee shop for locale

100% say evenings work best

39% say mornings work best
Taking this data into consideration, we've come up with two initial dates. We'll trial a morning meet up at a coffee shop, and an evening meetup at a brewery.
Wednesday April 21  Zilicoah, 870 Riverside Drive  6-7:30PM
Wednesday April 28  High Five Coffee, 2000 Riverside Drive  9-10:30
Mark your calendars - we'll see you there!

@Michael Reed, we are trying to gauge what works best for people through the survey before we set a time and place :-)

Hi folks,

I am taking a step forward towards creating a Bigger Pockets Meetup here in Asheville, and would love for you to be a part. While there are other investor groups in our area, I think the BP crowd attracts its own flavor of folks, and I want to provide a space for us.

Other groups vary in their programming, cost, and population. The BP Asheville events will be free, and if they attract the BP crowd that I've come to know and love, I'm sure they will also always be filled with zealous, hungry, interesting people!

@Jordan Lockaby and I are running this group together.  She is an agent and new investor and brings the motivation and passion to get this group going.  I have experience with short and long term rentals, private money lending, mobile homes, mobile home parks, commercial subleases, multifamily, flipping, etc.

I hope to have you join in the sharing, growing, and learning. Thank you!

@Account Closed sorry to burst your bubble, but this project will probably cost more than what you think.  You really need to get a licensed contractor out there to look at this, as everything you are talking about will need to be done by licensed professionals.  For one, the county will not allow power to be run from the main house, code states that it must have its own separate meter.  To get a meter, you’ll have to have the entire structure wired to code by a licensed electrician.  You’ll probably have to hired an engineer to OK the structure to comply with the county.  Septic and plumbing will all have to be licensed.  Also, the closeness of the structure to the property line might stop the entire project dead in its tracks.

Again, I don’t want to be negative, just laying out the facts.

you may be better off with your glamping idea.  People looking for short term rentals eat that stuff up!  I’ve got some friends way out in Sandy Mush that tent out tiny homes with no bathroom, just a communial outhouse.  They do really well. 

@Scott Hall, just sent you a message with the link to AirBnB

@Matthew Newby, it's super easy.  Our cleaner wipes down the top edge every turn over, checks the pH with a test kit, adds the chemicals needed, and adds water if needed.  It takes no more that 10 mins.  The local spa services charges over $300 to drain the refill, but we trained our cleaner on how to do this and she only charges $100.  We drain and refill twice a year, unless someone really trashes it.  The water is always pristine, even when we drain it.  I'm amazed how easy it is to keep clean and perfect, especially when we stay at other places and the tubs are dirty or smell like mold.

@Scott Hall, thanks for the shout out @Gerald Pitts! I live in Asheville and know WNC pretty well. I have a short term rental that I'm actually considering selling. It's in Vilas which is 10 mins from downtown Boone. If you have any interest send me a message and I can go over details. Either way, I was a little worried about Boone as a STR market thinking it would be too seasonal. Boy was I wrong! Jan and Feb get a little slow, but still rented out some. Summer is booked solid when school is out. Otherwise, EVERY weekend all year stays booked and quite a few week days. People usually book very last minute. I think people from a few hours away think, "Oh, let's go to Boone this weekend". I've found that having a hot tub gives a nice competitive edge. My property manager has a STR there himself and I'd say his is in a better location and nicer in terms of age, but no hot tub. I'd estimate that I stay booked 85% of the year or more and he's more like 70%.

I got into STRs as a way to have vacation spots that also make money.  We've found ourselves not going to Boone as much and are also looking at international travel, so I'm thinking of taking my equity from Boone and doing other things (like private lending).  It's totally turn key and you could use my PM if you'd like, or self manage.  We also have an outstanding cleaning that keeps a great eye on things.

@Brandon Allenczy hey!  You probably don't want to hear from me because I'm one of those investing elsewhere for the most part :-).  I know a few investors (myself included) that are doing short term rentals in the outskirt areas of Asheville to make things profitable in this market.  I hear of a few people now and then that land a deal on a single family or maybe duplex that needs a lot of work.  They manage the project themselves and maybe do the work and end up with a rental that cash flows, but very low.  Nothing is impossible, but the odds are stacked against you in my opinion.  Even moving into a multifamily in the immediate area might pay your mortgage with rents collected, but once you move out and rent your unit, once you plan for cap ex, maint. taxes, property management, insurance, and mortgage I think you'll find that it won't be a good cash flowing investment.

I don't like to be so negative, but that's my opinion of the market.