All Forum Posts by: Mary Love

Chase,

Did you see that the quad at 330 Hillside Street Asheville NC 28801 had a price adjustment on the MLS?

Thank you Chris. My question stems from the idea if I was a new investors would I buy it. For me I would and that is way I'm refinancing my duplexes at this price. I was just curious about others opinions because I have had some newer investors from Asheville say they would only pay $160k and I'm wondering what formula they are using because only homes in major need of repairs are 160k and I know from my own rehab projects that and 30 to 60k would need to go in them to get good rent. I think generic #s sometimes cause fear and prevent people from take that leap toward success.

Appreciate the responses. I was really playing around with the program and the process.

Jason DiClemente and Joe Villeneuve,  I am on a learning curve using this format.  I ran BP rental program from the tools section. The PDF has price, rents, taxes, etc.  Then there was a section about that said link it to discussions. So I thought the pdf would show up here.  I then tried to attach it but that does not work for a pdf.   I appreciate you reaching out I just don't know how to make the pdf show up here.

I was sending the post through BP link when I did the evaluation. I just uploaded it again.  Does it work now?

If I just base my assumption on the normal RE cycle, then yes an adjustment will be coming in the next 24 months.  I think how much depends on where you live.  My area is centered around several counties in Western North Carolina.  Asheville NC is super hot and for our wage standards very expensive. Yet, new construction continues because there is big housing shortage.  Go into one of the surrounding counties that is about 1 hour from Asheville and everything is much slower and less expensive.  I'm a big fan of staying within a 20-30 minute drive of Asheville.  I can find better deals and still get good tenants, good rents and help with the affordability of living in our beautiful mountains. 

I have a duplex for sale.  One side is month to month and I was going to leave it as such because I hoped someone would buy it and live in one side and rent the other.  Asheville has a housing shortage and anything even a 2/1 under $250K is a great deal.  But after 2 weeks on the market I'm beginning to wonder about this strategy because my tenants are getting nervous and asking for a new year lease.  So my question to you all is as investors would you buy this duplex based on this evaluation?  

Allison,  thank you for the pictures.  Does this property have it's own pin?

please add basement pics