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All Forum Posts by: Jadon Kabernick

Jadon Kabernick has started 2 posts and replied 7 times.

Post: Asheville NC Real Estate Attorney

Jadon KabernickPosted
  • New to Real Estate
  • Asheville, NC
  • Posts 7
  • Votes 4

Hey BP! I'm hoping to purchase my first property this next year. Does anyone here (probably local to the area) have any recommendations for a good RE attorney around Asheville? I've searched around the internet but I'd prefer to hear directly. Thanks!

Post: Looking to Buy with Cash in Asheville, NC in a 1031

Jadon KabernickPosted
  • New to Real Estate
  • Asheville, NC
  • Posts 7
  • Votes 4

@Robin Waters Yep I completely agree, if tourists and wealthy retirees are willing to pay more for things around here, they'll be expensive. And it seems to keep moving that way. Sounds like you've experienced that before though, just wanted to make sure you were aware that it's more of a tourist town than a middle class town, as of now. 

I agree, I wish there was a balance between being able to get plenty of city money from tourists, while not gouging the working class locals, but haven't seen any moves towards that recently.

Hmm... I would never consider living in Raleigh over Asheville any day, because the overall atmosphere and area here is much nicer than Raleigh or Charlotte, at least for me. As far as an investment property goes, however, (one that I wouldn't live in) I would personally much prefer one in a suburb of Raleigh rather than Asheville. The growth rates are phenomenal there and you can find better deals in general. But the Asheville area is such a nice place that's the main attraction and reason things are so pricey.

But as Chris said there are deals starting to pop up around Asheville too. I have a feeling we will see a lot more this year too as locals begin to move away to cheaper areas nearby. And of course if the population doesn't grow as fast then houses become much cheaper.

Post: Looking to Buy with Cash in Asheville, NC in a 1031

Jadon KabernickPosted
  • New to Real Estate
  • Asheville, NC
  • Posts 7
  • Votes 4

Hey Robin. I'm also quite new to Bigger Pockets and real estate in general so I can't really help much in that area. But I have lived in Asheville for 2 and a half years now so I can give you a bit of input on what I'm seeing in the market here.

First off, the living expenses here are outrageous. Asheville used to be a cute little hip town but now what I've seen is moves towards being strictly a tourist town, forgetting the residents. Everything is expensive, downtown in particular, including real estate. So to answer your first question, yes, I believe it is near the top of the cycle. I have seen an incredible amount of houses being built but not all of them are getting bought as quickly as I would assume from just watching, and the real estate market has seemed to slow down a bit in the last little while. Of course don't take my word for it since I'm relatively new to this and all but real estate here is very expensive and I don't know how much longer people will be willing to pay this much when there are other cities like Raleigh and Charlotte around. Asheville is a really nice place for retirement and tourists, but for the working middle class and lower class, the living expenses are crazy. It's a bit off topic to your questions but it does have an effect, so I'd keep that in mind.

As far as the actual vibe and atmosphere you get here, I love it. Near to the blue ridge parkway, good weather, great views, interesting things to see downtown at night, and a good variety of people. I would live the rest of my life here, if I can afford it. And that's what I'm worried about. If it continues to have living expenses go up and up and focus only on tourists, I fear that the average worker won't be able to survive and therefore make it a very difficult small economy in general.

So in all, as a local, I just don't see logically how the real estate can keep appreciating for much longer unless the living expenses stop hiking and lower and middle class workers are able to survive here, as that's what is the back bone of it all right now. There are still deals out here, and don't get me wrong it's a lovely area, but I would be very cautious and do plenty of research as it's not such a fast growing market such as Charlotte or Raleigh.

I'd be happy to answer any other questions you might have about this area, feel free to reach out if ya do!

Post: Mobile homes insights?

Jadon KabernickPosted
  • New to Real Estate
  • Asheville, NC
  • Posts 7
  • Votes 4
Sweet. Thanks for the link. Took a quick look at it and it definitely looks quite in depth I'll definitely look into that if I do end up getting close to buying a mobile. Definitely worth the 25 or 50 bucks when it could potentially save thousands haha.

Post: Mobile homes insights?

Jadon KabernickPosted
  • New to Real Estate
  • Asheville, NC
  • Posts 7
  • Votes 4
@Walter Aaron Poling gotcha. Good to know. Just looking at prices they look pretty great for rentals and I doubt the rent would be any less since they are mobiles. Yea for sure! I would get inspections on any home to reduce risk for sure. I appreciate the help and I'll definitely keep educating myself on them as best I can!

Post: Mobile homes insights?

Jadon KabernickPosted
  • New to Real Estate
  • Asheville, NC
  • Posts 7
  • Votes 4
@Walter Aaron Poling thanks for the reply! Yea I've noticed a lot of the mobile homes have a lot rent and are in a park, and I personally am looking to stay away from that. Thanks for the insight on that, that's good to know. I've generally avoided any homes before 1978 anyways because of lead paint dilemmas, but I haven't really stumbled across many, if any, mobile homes built in the 70s. I see, and that does make sense on why they'd be cheaper if there aren't great loans available for them since you'd have to lower the price since there's less buyers. I just don't hear much talk about mobile homes even though they make up such a large part of the real estate in my area, and that made me wonder, especially for rentals, they could bring some good deals. Are you aware if they have a higher insurance than stick build homes due to being more vulnerable to wind/fire damage? That is one thing I heard, that they go up in flames fast and depending on the build, particle board floors could easily cave in if exposed to too much moisture. Thanks!

Post: Mobile homes insights?

Jadon KabernickPosted
  • New to Real Estate
  • Asheville, NC
  • Posts 7
  • Votes 4
Hey y'all. Newbie here. I've been soaking up all the info I can about REI over the last months and one thing I don't hear about often in mobile homes. What I've gathered is that they devalue much faster than normal houses, and maybe don't sell well? Anyways I've seen a lot of mobile homes for sale much cheaper than normal houses, especially the ones over 20 years old. One listing I've been eyeing lately is a single wide built in 1992 and its selling for much less than similar properties are. I would be looking into renting it and having cash flow. So I was wondering why they sell so cheap once their old? Are they notorious for falling apart and deteriorating once they reach a certain age? Would repairs typically be abnormally high compared to normal homes around the same age? (thus making the up for the cheaper paying price for it) I haven't heard much about that but I can't figure out why else these old mobile ones sell for so cheap around here. Any insight is appreciated as I said I'm quite new to this realm and just trying to learn all I can. Thanks!