All Forum Posts by: Casey Powers

Bill Brandt gave an excellent detailed explanation. My short version is this:

Time value of money means that $100k now is worth more than $100k in the future. The dollar gets cheaper every year. A mortgage gets cheaper while your rent (revenue) potential increases every year. Using leverage to buy property now means you get to start generating that income now, and pay for it over time with cheaper and cheaper dollars.

This is how people build wealth with real estate.

This is one of the biggest problems with running a hotel in a residential neighborhood. No matter what you do, the hotel customers are going to piss off the neighbors. People who choose to live in residential neighborhoods don’t want to live next to a hotel.

And please folks, spare us the arguments that it’s not a hotel and investors should do as they please and blah blah blah. Let’s be real here. If you want to run a hotel, then pony up the cost to run a a real hotel. If the residential neighbors don’t like you running a hotel next to their house, maybe you are the problem and not the neighbors. How about selling the house and buying a hotel? Haaaaa

@Jay Hinrichs YES there was a ton of that. People paying a lawyer $500-1k instead of paying the mortgage, or often even the trash and sewer bills, to put off the foreclosures for several more months. Crazy times. Lol

Agree it’s good to analyze it for potential returns to get an idea if it will work when you want to move out and rent all 4 units, as well as run the numbers based on you living in 1 unit.

@Olga Kostrova

Look up their broker. Call the broker and ask them to assign another agent to help through closing.

@Manas M. I personally just use a simple revocable trust. I like to keep it simple. 

@Mike S. Nominees are illegal in Nevada for several years now.

@Nathan G. We have a state moratorium in Nevada, not just the CDC thing. They keep extending it so we don’t know how long it will last.

@Susie Lowe I will buy with the deadbeat occupant.

There is a statewide eviction moratorium in addition to the national CDC order. Only way to evict now would be through an attorney who specializes in that, and even that is not guaranteed at this time.

@Rich Kniss When I have dealt with this, replacing carpet and pad, Kilz and repainting the walls, ceilings, and trim worked. Painting just the walls won’t cut it.