Asheville investment properties

Gain Guidance on Investment Property Purchases in Asheville

Rental Investment Property Asheville

If you’re in the market for an investment property in Asheville, you’re probably aware of the wide range of properties available, and the long list of logistics involved in purchasing one of those properties. Navigating the complicated process of buying a single- or multi-family home, a parcel of land, or a commercial building can be daunting, but it can be made less so by aligning with a real estate agency adept at spearheading such deals. Mosaic Community Lifestyle Realty has agents specially equipped to guide you through the ins and outs of investment property purchases, offering a deeper knowledge and invaluable tips that might otherwise be unavailable from a less experienced agent. Below, a few ways Mosaic makes the process more manageable, helping you to get the best deal on your investment:

Cap Rate and Contract Considerations

Commercial Investment Property AshevilleOne important guide in shopping for an income-producing property is the capitalization rate – the ratio of the property’s net income to its purchase price. Evaluating the rate of return on your investment goes beyond a simple math equation; things to consider include financing duration, interest rates, and the type and condition of investment property. A Mosaic agent can dig deep for you, helping you to compare the cap rate on several properties and hone in on the one that gets you the best return on your investment.

Transaction contracts and what they contain vary widely depending on the type of property. Which one to implement, and what it should include in the fine print, can be complicated to understand, which is why it helps to have Mosaic at the table. How quickly the process during the examination period (due diligence) is completed is crucial, something that Mosaic agents know and prepare for accordingly.

Assembling Your Team

Investment Properties AshevilleBuying an investment property often involves retaining a variety of experts for inspections, code reviews, and structural and environmental components. Do you need an architect, civil engineer, builder, surveyor? Mosaic agents can advise you on which specialists make sense to add to your team, and which assessments need to be covered.

Types of Leases

When you’re looking at an investment property purchase, one of the things to consider is the type of lease you will be implementing with your tenant. You may be unfamiliar with the terms of a gross lease, a full-service lease, or a triple-net lease, so it’s important to have an agent who can help you weigh the pros and cons to each of these options.

These are just a minute portion of the many bases that must be covered when diving into an investment property deal. For a personalized plan suited to your investment goals, or for more general information on real estate in the Asheville area, please contact Mike Figura at Mike@MyMosaicRealty.com or call him anytime at (828) 337-8190.

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Mosaic Makes Finding an Asheville Property With Homestay Potential Easy

Asheville NC Short Term Rental Properties

Photo credit: Justin Mitchell

Looking for an Asheville property with added homestay potential? Homestay – renting a room or rooms out within a private home – is a great way for a homeowner to make some extra cash or to offset mortgage costs. In Asheville, homestays are permitted in residentially zoned areas if you meet the regulatory requirements for homestays and obtain a homestay permit. 

Mosaic Community Lifestyle Realty has made it easy to pinpoint properties with homestay or vacation rental potential. By visiting https://mymosaicrealty.com, clicking on the “Interests & Lifestyles” tab, then going to the “Homes with Homestay Potential” section, you can see which available properties offer a potential homestay option.

Asheville Homestay PropertiesWhat city law permits

The City of Asheville allows two types of paid overnight lodging accommodations within a home or apartment for less than one month.

A homestay is the rental of a room or rooms in a private home. A permanent resident must reside at the property and be present in the home during the time of the homestay. Homestays can be permitted in residentially zoned areas if they meet the regulatory requirements for homestays and the homeowner obtains a homestay permit. You can apply with the city for a new homestay permit, or apply to renew your existing permit, all online. 

Rental of an entire dwelling unit for less than a month is called a short-term vacation rental (STVR). STVRs are only permitted in the resort zoning district.

Real Estate Homestay Asheville NCSearch with ease

Mosaic’s homestay search feature displays listings for a variety of Asheville-area real estate based on properties with “vacation rental” and similar terms in the property description. However, note that while these search results may offer homestay potential, the listing details may not be precise or accurate. To confirm if a property has legal homestay potential, it’s best to contact one of Mosaic’s knowledgeable agents.

You can also create an account with Mosaic to save your favorite searches and homestay listings, and to receive prompt email notifications when similar properties become available. This option will cut down on search time by keeping details of your most common key words and favorite homestay properties, and automatically alerting you to any changes to saved listings.

If you have any questions about potential homestay properties, or for more information on any other Asheville-area real estate, please contact Mike Figura at Mike@MyMosaicRealty.com or call him anytime at (828) 337-8190.

Search: Homes with Homestay Potential in Asheville

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