All Forum Posts by: Account Closed

Most 4-plex and smaller apartment buildings are Class C- areas in Las Vegas. Average rent: $500 per month. If we try to convert a Class C- apartment buildings to a Class A/B+ properties in a Class C- area, will we be able to get Class A/B tenants for $700 to $750 rent? Note: all the surrounding are very ugly Class C- buildings around you. Your building may be is the only one class A/B building in that area. Is it worth to buy a Class C- apartment building in a Class C- area? Then try to covert it to a Class A/B building?

Glad to hear that Las Vegas housing market is very hot right now, let's keep the dice rolling, rolling, and rolling! :)

Yes, HOA board has a huge power. You don't want to piss them off. They can continue fine you until they are satisfied with the solution. I read real stories online that, an owner hire an attorney to sue his HOA. The owner wins, but the HOA find all different ways to give weekly fine to the owner the next 4 to 6 years. Examples of the fines are tenant's noise, tenant's guest extra pet etc. The owner regret that he didn't sell it 4 to 6 years earlier. Too bad that looks like there not much regulations on HOA board if you try to research it in online... That meant they can be very powerful... When situations happen like this, try to talk to the boards nicely, and find a solution that the board would accept, then sell it asap after this case is settled.

This is one of the areas I see on Redfin.

Certainly, this one particular example cannot represent the whole city trend...

Maybe it just happens in this particular area only...

I won't be able to research the whole city. I saw it happen in a few areas. I'm not sure if it happens in "those" few particular areas only, or widespread. It could happen in just a few areas only. Would like thoughts and more eyes from all different of you to see the trend better... Thanks

The seller will not sell it to you, especially we are in a hot market, multiple offers in many places. Like other said, it is a waste of time to offer hundreds thousands less the asking price.

I enforce my tenants purchase renter insurance. If this is something reasonable, tenant renter insurance should cover their own hotel. Landlords do not responsible for tenants hotel.

I would send 30-days notice, and find a new tenant

I have been investing for 5 years, currently have 42 doors. Cash flow is twice my last W-2 job. My exit strategy is, "after" the peak arrive,... Note: we won't be able to tell "before" the peak arrive, but everybody "will" know "after" the next peak arrive. "After" the next peak arrive, I will sell "N minus 1" door, I will sell all except my primary residence. Then buy again "after" the next bottom is pasted. ======= Have anybody gambled "Baccarat" in casino before? When you hit the long "bank" or long "player" like us right now, never time when will the long bank or long player stop, just keep betting on it until the long streaks stop, then hit and run! Since we have a cash flow portfolio already, we don't need to time when the next peak come, just keep investing, keep leveraging, until the next peak just pass... Then it is time to hit and run, cash in all my chips please.

The house prices under 300k in Las Vegas areas have been up every month. On MLS, I see some properties in an area have $3k or $5k increases monthly last few months. Multiple offers, sold prices are $10k over asking prices. Just curious, What are your thoughts?