We’ve been planning, dreaming and saving for the last 2 years to take action on this goal. This cottage is a 3 bedroom 2 bath vacation rental home that we will be living in for a couple of years and then converting to a short term rental. It’s nestled in the mountains of Fairview, North Carolina about 10 minutes from downtown Asheville. Just 3 miles away is the Blue Ridge Parkway where you can explore endless nature trails, water falls and attractions such as sliding rock.
2021 Financial Investment Goals
Why are we building this home? We continue to strive for financial independence by acquiring assets that generate passive income. This includes this first rental property as well as investing into the stock market. Vacation homes and rental properties provide 3 forms of income, appreciation, equity growth as well as cash flow. Appreciation can be 2-5% growth per year of the house value. Equity growth from mortgage pay down which builds that equity savings account. Finally everything left over after expenses and maintenance is cash flow. This cottage will be 100% property managed as I still have a day job I love. So less profit is acceptable. The most important part is that we are moving forward on our goals.
See the floor plan and more about our journey here.