I first started watching Snowshoe property prices back in the 2005 timeframe, but the prices seemed inflated and not a good fit for my family! Then the great recession hit in 2007, and prices at Snowshoe fell sharply. The lower pricing allow my family to purchase Expedition Station unit 111 in fall of 2017, then we purchased Expedition Station unit 109 in the fall of 2018.
I have a lovely wife, and 2 grown boy ages 22 and 19. We live about 3 hours away from Snowshoe in Lynchburg, Virginia. This makes using the condos very convenient for family use during the summer off season.
I almost started a blog during the fall of 2017 when I brought my first unit at Snowshoe, but I will call it just being lazy and it took me a year to finally start a blog! So what will you will see on the Root of Renting Blog?
- Monthly Income Statements
- Monthly Expense Reports
- Investing in Snowshoe Properties
- Potential Good Property Deals
- Remodel Ideas and progress
- Anything else to make more money in resort property investing!!!
I am a novice property investor, but I do own other properties around the country. I currently own a single family property in Titusville, Florida and Oceanview condo in Myrtle Beach, South Carolina. The great recession I believe was a once in lifetime opportunity to purchase real estate, and I was able to purchase a total of 2 properties in Florida. I sold one property for a nice profit in 2017, and I used these funds to purchase Expedition Station and the Myrtle Beach condo. I have done most of remodel work and repairs to my properties, because this will increase your profit rate if you can do the work yourself. I really enjoy doing the remodel and love seeing the results of my hard labor.
When I purchased my first rental property back in 2013 I really had no experience with rental homes. If you have no experience don’t worry you will learn very fast and make some mistakes along the way. Here are few things I learned so far:
- Its decent income for some work
- Don’t fall in love with the rental property
- People will tear up your stuff
- You will have to paint, add lightbulbs, and replace stuff when they move out
- Do the minimum to make it look nice
- Fix problems and broken items ASAP
- At a minimum carry $1 million of liability insurance
These are just a few items that stick in my mind, but there many good thing but I am real and their are bad things too! My goal is to share my wisdom and lessons learned, and hopefully to keep interesting. Hopefully you will enjoy my blog post, and if could share my blog that will great.