All Forum Posts by: Michael Tierney

I own a duplex in the Shiloh area and have bid on a few other properties in the area. It is definitely on the upswing.  Some people are reluctant to invest in that area, but in my opinion it is one of the few areas in Asheville where there are still value-add opportunities. 

@Ryan Howell is correct, there are a few streets that are less desireable - I suggest driving the neighborhood on a Friday or Saturday night and draw your own conclusions. 

Troublemakers are being pushed out one at a time and being replaced by good people.  The location is amazing, so it is just a matter of time. Prices and rents should be well supported. I have had no problem renting out my units at higher rents and to better quality residents over the years.

Congratulations!  Well done!

Hi Brad,

I think you are in great shape.

I also have property (a duplex in Asheville) that is “legally, non-conforming”.  It was converted to a duplex before Asheville annexed and zoned the neighborhood.  Occasionally an issue will arise (like during a recent refinancing or changing insurance companies), but the City has been great about providing a letter that resolves the issue.  If the property was destroyed, the insurance company would pay me for the duplex, and then I would have to replace it with a single family.

I think you’ve thought it through and got it right.

You might want to look just west of Asheville, NC.  Western Carolina University is growing, it is a beautiful part of the country, the Asheville vibe is spreading in that direction, and there are still fixer uppers available.  

Hi Jonathon,

If I were you, I would focus on Haywood County.  You are fortunate to already be in the sweet spot - an area that has growing population and employment, but is not a focus of out of town investors.  Waynesville is an awesome place with plenty of good deals still available. There are a number of active investors in your area that are really good guys.  I would reach out to them. If you need help meeting folks, join CREIA over in Asheville. A bunch of the Haywood County folks attend those meetings.

You should investigate CREIA. It is the Asheville REIA. They have a Private Money sub group where local borrowers and lenders meet.

I would recommend chatting with Mary Love at lovethegreen.org. She is pretty active with managing properties for investors and is very active in the local REIA.

Asheville Phoenix properties is another option.

GOod luck!

Check out CREIA. it is the local REI group. I think they are meeting this week.

Hi Derek. You might check into the local REIA (aka, CREIA). There are a bunch of monthly sub group meetings that are only available to members - one of which is the Hard Money lending group. The HML meetings typically have 15-20 attendees with a mix of Borrowers and Lenders in attendance. It would be a good way to network and learn the ropes. CREIA is a not-for-profit REIA, so membership is really cheap. Good Luck!

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