All Forum Posts by: Timothy Doenges

@Mason Weese I have four vacation rentals in Summersville, WV—just an hour east of Charleston, but I am close to Summersville Lake and New River Gorge national park, so my numbers may be skewed from that. We’re still very busy late into season, and no sign of slowing down.

@Damon K Verellen

Woo Sutton! I’m in Summersville!

@Sue Hough

Another thought - as an exit strategy, what would just the land with utilities sell for? If spending 20k on the home and you find it is unsalvageable, can you get your money back by demolishing the house and selling it as a building lot?

@Eliana Posada

I do! Not sure if there is anyone out here that manages vacation rentals for others.

@Eliana Posada

We have good tourism here in the New River Gorge area. We have five successful STR's, one in Fayetteville and four in Mount Nebo / Summersville Lake area.

@Breanna Boggs

Real estate investor in West Virginia here. I would say tenant screening is key for properties that may be considered in a rough area. But first and foremost, I would get in touch with a property management company that services the area and see what their thoughts are on the neighborhood.

@Daniel Engstrom something to check on… Is the farm being sold commercial or residential? If it’s residential, it may be tough to 1031, seeing as residential does not qualify. I would check in on that with someone a whole lot smarter than me. LOL

@Carolyn Leonforte I unfortunately don’t have experience in that area. I am sure short term rentals would/do work there, I just don’t know any of the players in that market.

@Paul Pellegrin

Real estate agent and vacation rental investor in the New River Gorge area here. I’m happy to help however I can!

@Jaime Bisbey

Very good sign.

Only challenge you may find is if the previous owner didn’t request the annual incremental rent rate increases. If you’re a couple years behind on those, it may take some time to get back to market rent.

Good luck!