All Forum Posts by: Randy Janoe

There are massive horror stories on social media floating around about these two. Had a show or series lined up on Magnolia and has now been canceled 

I do believe guilford country is doing a good job of attracting companies paying at or above median income. One, it creates a demand for housing.Two, people can afford the housing. 

Plenty of "1% rule" homes in the triad. Keep in mind these homes may be older and may require some additional cap ex.

I invest in whatever makes sense. Even outside of real estate (automobiles). Keep in mind HOA fee has to be accounted for, but for big cap ex items you would have to budget for anyway (such as a roof). You can pull retail condo listings off the MLS and generally meet the 1% rule. I also have a contact for property management, should you go that route.

The triad has the recipe you are looking for. However, the 3/2 will need serious renovation if you want to be in an area that will demand quality tenants that can afford gross rents in that area. Have you considered condos in the friendly area? You will attract higher end tenants and be in the price point you desire.

Conservative approach: Deleverage yourself and hedge against market corrections since you will not have a "normal" paycheck.

Moderate: Refinance existing expensive debt and pay down balances. Increase cash flow some, carry some cash for opportunity or to minimize risk.

Aggressive: pull funds out if you can return COC higher than penalty and double down on real estate.

My preference would be somewhere in the middle. Up to you.

Contact Jeremy Albers here on BP. He has been extremely responsive and helpful discussing potential properties.

Jonathan Landry may be able to provide even more insight, he knows Canton the best out of anyone I know.

I lived in Canton for a couple of years, there is demand for Asheville folks that need more affordable housing. The Northside of Canton (Newfound/Beaverdam) rarely smells like downtown Canton does and is right off I40.

Our house sold in 36 hours, no issues there.

Also, look in parts of Candler, Leicester and Hendersonville. Outside of Asheville and slightly more affordable. 

Is the land part of the deal? If not I would make sure to identify lot rent costs and if the property is eligible to be leased. If it comes with it I say go for it. Anything reasonably habitable will rent in our market and rarely does anything come up for sale under under 100K.