All Forum Posts by: Casey Powers

Why not retitle one house into its own LLC then you all work out payment between the 2 LLCs? Seems like there would be less tax that way?

He’s a troll. He is just running around talking trash on every Las Vegas conversation. Adding nothing to any conversation.  

That's why it's better to do your own numbers and/or get rent estimates from a PM who would be "stuck" with you after providing a rent estimate, assuming you hire them based on that estimate. Realtors want to sell property and for the most part, don't care what happens when the sale is closed. Then it's not their problem. For me, when I take on a new client it's long term and I will have to hear them complaining if I can't rent property at or near my estimate. That doesn't work for me. LOL

And I am a real estate agent too - in Nevada we are legally required to be. But my focus is PM and investors. If I help someone buy property I want it to perform, because it will be my problem to babysit if it doesn't.

LOL for real. His property tax estimates are way high also. Maybe he’s trying to scare off other buyers to eliminate competition? 😅

@Sachin Amin average rent for the whole city is irrelevant. What matters is neighborhood comps, which I posted above for this property. I don't use estimators. MLS shows actual leased prices, what someone actually paid to rent comparable property, and that's what I go by.

“1% rule” is utterly useless in Las Vegas and in pretty much all western states. That’s mainly for the midwest where houses are old and need more maintenance, weather causes more damage, and you don’t get much appreciation if any. It just doesn’t make any sense when analyzing investments here. 

@Joshua Castillo it's possible. There's only one 2br that rented in that complex in the last year on MLS, and it leased at $975 on Feb 8, 2021. In similar condition to the one you're looking at. When comping condos I focus on the same complex because that is the best indication of price for that property. Complexes can vary widely even in the same neighborhood so there isn't much point comparing across different complexes.

All the condo HOAs provide similar services here, except some may not include sewer. North Las Vegas and Henderson include sewer with the water bill so it makes sense this HOA includes it. However, typical HOA fees for a condo are less than $200 per month. Often more like $140-180. Sewer is normally <$20/mo so that doesn't explain why this HOA is charging so much more than typical.

$250 per month is high and to me, suggests a possible management or financial problem with the association. The listing agent likely doesn’t know those details and has no motivation to tell you that the dues are abnormally high.

Yes I charge 8%. My average renter stays 2-3 years. The biggest reason my renters leave is buying a home. My renters = those I place and manage. My lower rent folks tend to stay longer as they are less likely to buy a home that soon. Some have left due to job loss or other problems but those are not the usual for me. YMMV

https://www.biggerpockets.com/...
Owning still more affordable than renting in Clark County (Las Vegas). Aka, landlords can still make money on Las Vegas rentals 🙂

HOA fee $250 is high for that type of property in that area. What's going on with that HOA?