BUY cabin in the mountains? (Asheville, Boone: rental, home, university)

[WeLuvNC]

phew. Bryson city seems so much farther out than boone/blowing rock. Is there anything in the wilkesboro and boone area along 421 or between lenoir and boone other than blowing rock?

[grout]

I don't know if you have found a cabin in the mountains to buy, but I have a home in Northwest Arkansas that sits on the War Eagle River that is surrounded by private state property called Hobbs State Conservation Property. I have almost 5 acres. It is an awesome home 3600 sq. feet that would be great if a number of couples wanted to go in an buy together. I have it listed on FSBO. Good luck in your search.

[shoes4birds]

Originally Posted by WeLuvNC

phew. Bryson city seems so much farther out than boone/blowing rock. Is there anything in the wilkesboro and boone area along 421 or between lenoir and boone other than blowing rock?

The primary couple we're considering doing this with live in Nashville. So while Bryson City might seem far, we have to take the other couple into consideration and so we would probably fine with that. It sounds like Bryson City, Boone, Blowing Rock are what we're looking for. Is Wilkesboro another area we should put on our list or did you just mention it for proximity purposes?

[Mtnman]

Lake Lure, NC. Check it out.
MM

[hymnsinger]

Originally Posted by shoes4birds

Oh, here is the BIGGEST must of all - it CANNOT be in a DRY county!

Boone/Blowing Rock (Watauga County) would still be ok. Boone just approved mixed drinks, and Blowing rock already has them. I think there is still a Sunday AM limitation, but I don't know, as I don't drink at all.

[Catbirds]

Originally Posted by shoes4birds

We have several friends who would like to go in on a cabin in the mountains and rent it out when we're not using it.

Has anyone ever done this before?

Does anyone know how to search for cabins that are for sale?

Thanks!

I know that there was a cabin for sale on Hwy. 221 that used to be called Boone Cabins. I saw a sign this week. Several different cabins, one was an old historic one that used to be a rental place. The folks that owned them, sold them individually. All you have to do is google Blowing Rock Real Estate and you can see what is available through all the different firms. Misty Mtn. has some cabins for sale, but they are more expensive up here since it is Blowing Rock area. I have met several people that co-own cabins up here. There are several vacation rental co. up here that rent vacation homes. A friend of mine has a house she rents thru Blue Ridge Rentals, but I use to rent my house out myself thru VRBO.com. This is Vacation Rentals by Owner. My friend didn't want to go this route because she said these folks took care of everything and she didn't want the hassell that comes with rentals. Buyers market now, for sure. Avery Co. or Ashe Co. will be less expensive in my opinion.

[Southlander]

Mitchell and Yancey counties, too. Spruce Pine, Bakersville, Burnsville, Little Switzerland (actually in Avery, I believe).

[67walkon]

Practical tip, shoes. Pay a couple of hundred bucks and have a lawyer draw up a big girl and big boy covering how decisions will be made, how expenses will be shared and how one party can get out.

[LLN]

Originally Posted by shoes4birds

I hear you - yes this is important to us but we're big girls and boys and will work all of this out. Thank you for your concern.

From experience of several friends and a relative...If you do not have a legally binding document drawn up, DETAILING the who, what, when, where, and whys of this arrangement, you will come to great anger and heartache. Period.

lln

[tkhk3746]

Make sure you can list 20 friends or family members OTHER than your initial group of investors.
Don't assume b/c you buy this cabin it will be easy to rent. Your back up should be family and friends who would be "definite" renters if you're not using it....IF a steady income to pay for the place isn't really a concern...then go for it.