All Forum Posts by: Dusty Cady

Hey Marcel. Shoot me a DM I have good lender that can do 80% LTV in Nevada.

@Kathy Zickenberg Yes I do. I wholesale some deals myself and I know work with a few others in town. Shoot me a DM and we can discuss what you’re looking for. 

-Dusty 

Thanks @John Cannon! I just ended up having a friend translate it for us. Now to get it closed! :)

Hi Kathy. As you probably know BRRRR is tough in markets that have seen appreciation like Reno. As of now it's still possible if you find the right off-market deal. Nothing on the MLS is going to come close to a good BRRRR. The problem is there has been a lot of migration from the Bay so prices have been pushed up more than rents can really sustain.

Hi - We are looking for a Spanish/English private seller contract to use when making offers to ESL sellers. Does anyone happen to have a template?

Thanks!

Hey @Brian Moore and @Benjamin Herhold I was a tenant with NCS. I can tell you from first hand experience they are super unprofessional towards the tenants. Not sure if that translates to how they treat their clients, but just something to be aware of. 

@Dennis M. Haha.  Fair point. 

- My plan is to FHA house hack. This analysis is including rent for my unit. So I am assuming what it will look like after I move out. Right now, if I move in and take MTI/PMI ($2,200) - Income from the two units (1,500). I will be out of pocket around $700. This doesn't account for any repair/capEx, vacancy etc though. Right now we are paying $1,600 in rent so dropping that sounds great, but not at the expense of being in a bad deal.

• Taxes are low here, that is the true number. 
• I am going to up the repair and CapEx number to make sure I am fully covered.
• Damn PMI.....

Thanks for the input. 

@Anthony Wick You are probably right about the numbers. I am going to use a 3.5% FHA loan to get into the property. I am currently renting at $1600/month. I put the reserves for repairs and capex lower because I plan to fix a lot once I move in, but I should make sure it is still accounted for. I do plan on living there and self managing for the first year, after that I want it to make sense as a rental. I am going to re-run the numbers and make sure I am being honest about the costs.

As far as property tax goes. That is the real tax rate for the year. In my area our property taxes are very low. 

Thank you for the input!!!

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