All Forum Posts by: Art Ritter

@Nick Hedberg - Thanks for the vote!  Although, knocking on doors in LA seems mostly to recall that scene in "Young Frankenstein," the mental image of carrying actual cash along is what really blows my mind! (... so to speak).

Thanks, Nick - we really can't take ourselves too seriously - eh?

IMO if you door knocked with  briefcase full of hundreds in LA you'd get few houses ... but lots of coke! lol

Thanks for the votes, Steve P, Christopher B, and  Kurt B.  I am honored, indeed!

... or, your Las Vegas friend could form a Nevada LLC, put the condo into it - with its financing intact, and sell his interest in the LLC to you.

No closing costs when the LLC (and thus the property) is sold, no change to the mortgage deal, member(s) of the LLC are shielded from this property's landlord liability - which may be particularly important once this is a rental, and the profits/loss are passed through to the LLC member(s) as this entity is disregarded for tax purposes. No Nevada tax or franchise liabilities until it nets a $4 million in income.

Just a thought - but, review with a competent tax professional regarding capital gains liabilities. 

Hi Alexander and Jamie, Welcome to bigger Pockets - and the Las Vegas REI market!

REI Las Vegas meets Wednesday nite - at Ignite Funding 6:30-8:30, 2140 E. Pebble Road, Suite 160 Las Vegas, NV 89123 2140 E. Pebble Road, Suite 160 Las Vegas, NV 89123 Its free!

See ya there!

Lori - according to https://www.landlordology.com/nevada-landlord-tena..., Landlordology.com bases one of its posts on these Nevada statutes:

• Title 10, Chapter 18 – Discrimination in Housing; Landlord and Tenant
• Title 10, Chapter 18A – Landlord and Tenant: Dwellings
• Title 10, Chapter 18B – Landlord and Tenant: Manufactured Home Parks
• Title 10, Chapter 18C – Landlord and Tenant: Commercial Premises
• Title 3, Chapter 40 – Actions and Proceedings in Particular Cases Concerning Property

Happy Googling - or just ask your RE-friendly attorney!

- Art

Call Professional Tax Services and ask for Sonja.

Hi @Brendon Borrego - and welcome to BP!

In Clark County (southern Nevada - for non-Nevadans) zoning and its flexibility is also a matter of context - provided both by the adjacent land uses as suggested by Scott, above, by the over-arching Master Plan for the community, and by the vociferousness and/or complacency of the surrounding neighbors.

So, while checking with your friendly development official for the details Scott suggests, also see whether there is a master plan for the community in which your target re-zone land is located and what flexibility it may imply or allow for - and for their assessment of the character and mood of the neighborhood regarding a zoning change - or waiver.  

No matter what or where, zoning and re-zoning is a political matter and its navigation is a political process.  Although you may be able to get great information from the local jurisdiction and its written development plans and ordinances, it will be the will of the people - either directly in neighborhood town hall meetings focused on such issues - or indirectly through their elected or appointed officials involved in the (again, political) process (planning commission and county commission or city council meeting for the purpose of considering such proposals) of coming to a decision on your proposal for a use different than what already exists.

This is not a bad thing - the same emotions that drive neighborhood positions also drive care of existing properties - and thus, their and your land values.

A land-use practitioner may be a great ally throughout this process - ask around among others who have navigated these waters and interview the most likely of their suggestions to find one sympathetic to your cause and not antagonistic to the political powers-that-be.  

Good luck - and be ready to build infrastructure into your pricing and designate some portion to park-like trails or bike paths if your jurisdiction is into one of the many civic competitions that value these things.

Been there - Art

@Varinder Kumar - thanks for your vote!