All Forum Posts by: Bill B.

If someone can vouch for Houston being a good renters market, start there. If you can get a steal of a deal in Vegas from family, start there. 

I live in Vegas where I have 12 rentals, I haven't seen the since of any of them in 10 years, I might have seen the outside of 2-4 of them. (Barring HOA complaints.).

The management company takes cares of everything. If you need a reference try Brian Hartsell @ key properties. I don’t work for them or get a commission. Just a happy customer. 

@Wayne Brooks

GOOD QUESTION!

@Dave Foster

@Karen Seale

Karen, did you identify exactly 5 for your 1031? if you identified 5 properties (or any number more than 3) did you follow the other specific rules for the 1031 exchange in situations where you identify more than 3? I included Dave as he can simply tells us the answer as opposed to me guessing. 

Dave does that come in to play as well? Identifying more than 3 and not buying them all?

I looked in to it a couple years ago after using one my first and only time. There’s one true association website you want to go to and make sure you get the add on needed for financial/contracts. The guy I used said there’s good money in it s long as you’re available every time you to do a job. (Like appraisals it was randomly assigned to people that have a history of being available.)

In Las. Vegas granite can be very cheap. Less than a couple hundred per 8’ section. Average house cost me less than a couple grand including demo and installation. I’ve heard about it being fragile or needing sealing but after 10 years I’ve had zero problems with zero maintenance. Plus a good granite guy can work magic on slabs. (On houses I bought with granite countertops. )

@mark wood

They can/should be able to Get a new mortgage against their current property for about $240k (about 80% of current appraised value.). That MAY put a crimp in getting another mortgage for their single story home if that will cost more than their current home. But that simply allows them to offer cash for their next house. Otherwise they might as well just get a new mortgage for their new single level home. 

They could also get a home equity loan (fixed rate, not a variable rate home equity line). For just enough to put 20% down on their new property  if they think they would qualify for the new mortgage with the home equity loan in place. 

Is their current $300k condo a good rental? (At least $2,000/mo rent plus any HOA fees?) if not they could just as easily sell the condo and buy the single level home and then go looking for a good rental. This would also be the preferred method if they paid less than $200k for the property as all those gains are tax free now but will be taxable after 2 years as a rental.

I LOVE LOVE LOVE all the useless posts Jehoha. Pretty much every single post is...

don’t invest there

that’s a bad idea. 

Hey that info doesn’t help the poster but I’m certainly not going to post any useful info...

Maybe you could spend a month trying to help people instead of as a “hit and run troll” see if it doesn’t make you feel better like you’re actually helping people. Or at least try just not posting at all for a month and see if the forums aren’t a better place. 

Always. Email or visit vegas. Burgers or pizza. 

yes. Sorry. I could have included the month over month numbers as well. 

Plus 1%, plus 0.5% and minus 28% month over month, respectively. 

Good numbers for a “slow month” with school starting in August, earlier in Nevada than many states. 

Las Vegas August numbers are out. Median sales prices up 17.5% year over year.  IMHO, a Better number, price per SF, (ignores a bunch of cheap or expensive houses being sold.) up 18.5% year over year. Days on market down 40%.