All Forum Posts by: Casey Powers

Yes generally if you have income in a state with state income tax, you have to file a tax return for that state. If you don’t have profit, still file the tax return and report that.

My clients basically don’t have to lift a finger because I take care of all the day to day stuff. They mostly just watch my statements and direct deposits roll in every month.

Which is also what I do with my out of state rentals - watch the statements and direct deposits roll in from the property manager.

My full time job is managing rentals for others (and my local stuff). I get to spend my spare time looking for more investments because I don’t have to waste my time learning the rules and how to manage in another state.

Same in my area. Scammers want money first. That’s not the correct way to do business. And of course landlords want to protect themselves, but the right way to do that is get the lease signed first, take money, then utilities and insurance, then keys last.

Also I am utterly shocked at the number of folks in here saying no lease until taking money. That’s crazy yall. So then if someone doesn’t agree with the terms of your lease, after you took their money, do you keep their money?

People don’t just move in because you sent a lease to be signed. If someone is going to break in and squat they will just break in and squat. They won’t jump through the hoops to get a landlord to approve them and send a lease to sign. Lol

Would you pay for something before you had a signed agreement? Probably not. Why would a tenant with half a brain give you essentially 3 months worth of rent before even seeing the contract you want them to sign?

Send them the contract FIRST. Have them sign it. Then collect money after they have signed the contract. If you don’t want to sign it until they have signed and paid, that’s fine. But always have them sign the lease before anything else.

I don’t provide keys until I have all of this:

Signed lease, full payment in certified funds, proof of renters insurance with liability coverage showing me as additional insured, proof of utilities set up. The signed lease comes first. Then the money and the rest.

@Bruce Lynn not allowed in Nevada. All monies must go through the broker.

@Annabel Pasion it sounds like it’s time to find a new broker so you don’t risk problems with more of your commissions. I am a broker and would be happy to chat with you :-)

Businesses get to choose with whom they do business. Block their email, mark it as spam so you don’t ser their messages anymore, and move on with your life.

If they don’t want to do business with you, then you probably also don’t want to do business with them. NEXT.

Unfortunately in Las Vegas the vast majority of 2-4plexes were built decades ago and the neighborhoods are “low rent”. Most were built around the late 1950s and 60s. Hardly any built after about 1980. There are a few 4plexes in somewhat nicer neighborhoods and prices on those start at $500k (mostly more). Unless of course you can find a deal at a discount.

Still, smallplexes in nice neighborhoods in Las Vegas are almost like unicorns.

You might do better to buy a home with space that you could rent either as rooms or as simple conversion.

If you both have already agreed, then go ahead and get it done now. Sign, pay, put the money in the bank. I would not wait.