All Forum Posts by: Bill B.

@Eric Carr

Eric, if you had bothered to read the thread you would have seen the answer...

4 days ago it was headlines here in Vegas as a 1 year old was torn apart. It mentioned that 2 more vegas adults were killed last year...( I posted a link)

Then I posted a graph that showed 40 people were killed last year by dogs, 30 of them by pitbulls. 

I mentioned that every time you pickup a paycheck at work, a pit bull has killed an American. They kill adults as well as kid, not many dogs can do that. 

People are afraid of sharks that kill 1-2 Americans a year, they should be VERY afraid of pitbulls. 

Ps. Another point of the article in Las Vegas is all three dogs had come from animal shelters and killed their owners or owners child. Can you imagine the outrage if the dog has been sold by a private person? They would be bankrupted. 

@Brad Hasseler

People keep bringing up that 5 or 10 different breeds bite people. But as I posted, 1 breed does most of the killing. Pitbulls are people killing breed kings. My beagle bit people like crazy back in the 80’s when it was just accepted that some dogs bit people. But she never sent anyone to the hospital, much less the morgue  

Ps.  The 1 year old killed last week headline did say Rottweiler. 

https://www.rgj.com/story/news/2019/04/29/baby-girl-henderson-dies-after-being-bitten-rottweiler/3621895002/

It’s all good. The original post asked a real question and I have a real reason. If you can avoid 75% of all dog related deaths by not allowing one breed of dog, that’s a smart call. I’m willing to ban anything from my rentals that causes 75% of the related deaths. (I also ban the other 4-6 breeds that contribute for a total of 95% of the deaths.) Heck we ban trampolines. And all trampolines combined only kill an average of 1 person per year.  There’s just zero upside to allowing them. 

A mastiff and a pit bull both killed their owners (58 and 62 years old) last year (4 days apart). A 4 year old Rottweiler killed a 1 year old 4 days ago. This is 16 months in just Las Vegas. All three dogs were adopted from area animal shelters  

I wouldn’t want any of those 3 Breeds in a rental of mine. 

Someone above mentioned other dogs bite more often than pit bulls  that may or may not be true, but pitbulls are the human killing Kings, by a long shot...

Looks like 40 people killed per year by dogs, 75% (29) are pit bull related. So pitbulls are killing more than 1 person every 2 weeks. So yes I am hearing about story after story after story  maybe you are ignoring the stories out of your bias?

Every time you get a paycheck just assume another person was killed by a pit bull  

2017 dog bite fatality statistics2

2017 fatal dog attacks by breed

In 2017, seven dog bite fatalities involved canines from two or more different breeds, thus producing a death count total of 49 rather than 39. Seven dog breeds each contributed to one death, including: American bulldog, akita, doberman pinscher, giant schnauzer, heeler-mix, husky and rottweiler

Story after story after story of dog owned for years and years by The same family suddenly kills owner or owner’s kid. that’s probably most of it. 

Who cares if you have insurance when you’re sued for a million or $5 million. 

If you’re not making a boat load extra money for taking the risk, why would you take the risk?

A police officer is suing a landlord because their tenant shot them. If you’re responsible for that how are you not responsible for anyone that dog ever hurts?  Are you going to court and saying “your honor, I didn’t know they suddenly attack” or are you going to say you didn’t believe it?

Are you reading every policy change they ever send like the one that says on page 12, oh, by the way we don’t cover these animals any more. Or when the claim comes in they say let’s see the letter of good behavior we require from the dog’s vet as specified on page 19. 

Maybe, if you aren’t getting any decent tenant applicants that don’t own big dogs you could sell and find another neighborhood. Or charge a boatload above market rent, own it in an LlC, and mortgage it to the hilt. And just try to sleep knowing financially you’ll be ok no matter who’s killed or injured because you just couldn’t find anyone else to rent to. 

Quicken is less than $50 and overkill for personal finances and 20 rentals. maybe quickbooks when you get to 50. 

I don’t see how you could refinance. Usually you can only pull 75% of the value out. Unless they properties ar worth less than $100k each there’s nothing to take out. Even if they were only worth $80k you’d only get $10k each minus costs  

You’re making 12% cash in cash which means you’re probably making closer to 20% on your money after principal paydown. I don’t see how you’re going to do much better. 

Maybe you could househack a fourplex, but beyond that, your returns definitely won’t be that good in 5+ MF. 

Also make sure Airbnb is allowed in the city and the building you choose. It is highly restricted or outlawed in much of Las Vegas. If the numbers don’t work with a regular tenant I wouldn’t do it. 

That said, a condo under $100k near the strip? I’d be worried about that part as well. 

I don’t know if you have rc wiley there but I use them for appliances. They charge $59 for delivery and installation once per year. Divide by 5 - 10 deliveries and it’s basically free. 

Find a mortgage broker. I swear every broker I’ve ever talked to has offered 80/20  30 year investment loans. And that was a few years back when credit was “tight”.