I believe that we all learn from our friends, especially the ones that share same interests with us. I am a real estate investor in Asheville NC and I strongly believe that the 20 years in the industry have made me very conversant with the area’s real estate market. Well, I am not bragging to be a professional in the area’s real estate matters, but my experience has helped me to make right decisions whenever I want to acquire a new property to grow my real estate portfolio. Let me highlight briefly about my experience investing in Asheville NC real estate market so that those aspiring to acquire properties there can make decisions that are more informed.
I will start by pointing out that hiring a property management in Asheville NC to help you take care of your investment is very important if at all you want to maximize your income and grow your real estate portfolio. All my properties are rental homes and I have hired a local Property management company in Asheville NC to handle the management part. Initially, I was managing the properties myself, but I realized that maximizing rental income was impossible. Actually, a friend advised me to hire a local property manager to help me take care of the investments. At first, I was reluctant hire one, but to date I can free say that hiring a property manager to look after my investment was the best decision that I have ever made. I do not have to run after tenants to collect and my money is deposited in my bank by the agreed date.
I have seen the real estate market in the area go down and up and I can tell you freely that the market is steadily stabilizing. It is also worth noting that the Asheville real estate market is not easily affected by economic waves, like it is in other parts of the country. If you do not know, North Carolina is among the few places in the country where the real estate market was not badly hit by the latest recession. For instance, home prices in the area have never experienced huge price decline like in other cities across the country. On the other hand, home prices have not increased rapidly during the recovery period like in other areas. The market has been steady and predictable all through. This makes the area an ideal place to invest in rental properties, flipping homes and as well as buying and holding to sell in the future.
The area’s population increases year after year and this is a clear indication that the demand for housing will continue shooting up. Probably, this is the reason why it is difficult to find a good property for sale, especially if you do not use a reliable local property management company. I must also note that fewer new properties are being constructed in the area and this is likely to elevate home prices in the near future. Most of the listed properties are old ones that probably require some renovations before tenants can come in. Nevertheless, I cannot complain investing in rental properties in the area because it is a profitable business as long as you can hire a reliable property manager to help you.