All Forum Posts by: Virginia Marphis

Owen Clan,

So happy you posted this. My name is Ginger Marphis. I run the Northern Nevada Real Estate Investor's Group. We meet this coming Wednesday at 6pm at my office at Keller Williams Group one. A guest speaker from Vegas is covering 1031 Exchanges. We should definitely meet and talk about a few of the things you mentioned. I'd love to help in any way I can in help you secure your first plea and figuring out what best fits your needs. There are so many things to consider when looking for a good property to invest in. If you are looking for turnkey, you will probably pay a little more than one that needs a little renovation.   Please message me for more information or to set up a consultation. Always here to help.

5902 Amargosa Drive, Reno NV

This is a very unique property on 0.28 acres. Has 7 bedrooms and 4 bathrooms. 4 of the bedrooms have their own private access doors to the exterior. Home is one manufactured home on concrete foundation, while the other side is attached manufactured yet to be converted.  This home, only 3 miles from the UNR (University of Nevada Reno) campus, centrally located in the Sun Valley area of Reno Nevada. This one is a MUST SEE. Great Income potential. Due to the fact this home has not been fully converted, it must sell for CASH, 1031 Exchange or Owner Carry with a large down payment. This home is located on a nice lot directly within close walking distance to the elementary school and directly next to walking trails. This home is approximately 3200 square feet in total. Full Kitchen in one side and Kitchenette on the other. Easily rentable as the rental market in Reno is fast moving.  Click Here for more information on this Great Investment Opportunity!

• Two Double Wides
• Nice Laminate Flooring
• 7 Bedrooms
• 4 Bathrooms
• Freshly Painted
• Large 0.28 Lot
• Ample living space throughout
• Ample Parking
• Must See!

Low Balling is not a term I'm very fond of. The key is finding Motivated Sellers and working directly with those people. What investors sometimes miss is that the MLS is a good source for information and sometimes there are great deals on there. Having a great birddog, marketing program and a list of wholesalers who are contacting you regularly with great deals is the best way to go. Coming from a place of HELPING PEOPLE rather than LOW BALLING them is a better approach. Some people are in a situation where you are the only one who can be creative enough to help them out of a sticky situation and create a win for everyone.

-Ginger Marphis

Antuan, We would need more information: What is your holding period? What is the difference in rate on the down payment assistance Program financing vs the FHA w/203K? What are the requirements? A lot of programs require you live in a part of the home. This would be an excellent conversation with a great Local Lender in your area. I'd be happy to refer you to someone amazing in your area. If your lender cannot answer basic amortization scale questions, it would behoove you to find a new one. It's important you know what your long term goal is so the calculations for the term you plan to hold can be taken into affect.

Nick,

That's a great low car payment. I can see where you are going with that. I'm a true believer in buying used (1-2 years old) so as not to pay too much for a car coming straight from the factory. Leases have been at an all time low recently, so kudos to you for thinking smart on that.    

To answer the next question about using ALL your money for the down. I strongly recommend having a good sit down conversation with your local lender. There are all kinds of local down payment assistant programs in my area of Reno Nevada. Hopefully your area, too, has similar programs.  You want a good lender who can manipulate the numbers to work the best for your long term goal. The best lenders ask a ton of questions.   

Another important idea is to develop a relationship with a realtor early on. You want a realtor who understands your goals and works with you to help you achieve those goals.  

Colleen, I'd love to help. Please private message me. I have a great referral for you in Columbus Ohio. Her name is Janet Dineen. She has a wide range of experience in working with investors, as she is an investor, herself (as am I). She has experience in vast aspects of real estate, and I'm sure she can help you.  PM me for her contact information. 

Eric,  there are structural inspectors who can help you. I would ask your local contractor for a referral for this. Some Physical (General) Inspectors are contractors and can give you limited intuition into the structural condition based on their experience, however, YES, you would need a Structural Engineer.  

Hello, Nick!   You are on the right track wanting to purchase a home. A lot of people do not realize there are up to four different ways you can make money on real estate.... specifically a home. You are on the right track wanting to use one of the rooms for extra income. Perhaps you can decrease your expenses, overall, by doing this. Paying down  faster anything with a high interest rate is a really good idea.  You can buy the house at a discount, fix it up, refinance it, and absorb the high interest debt (student loan) into the real estate.  Car leases can be useful, depending on what you do for a living.  I would need more information about your monthly payment to compare this aspect.  

I hope this helps.

The answer to this DRESS FOR SUCCESS, REALLY MATTER?? is, "It Depends".  In some cases, how you dress matters greatly.  A long time ago, a professional woman told me, You should always dress professionally everyday because you never know who might come into your life that day and first impressions are everything.  People's perceptions of you and what you are all about is summed up within a matter of seconds.  

There was a candidate who came in for a job interview to the Bank I worked at as a young, college student. He was interviewing for a higher level position and was denied the position because of his shoes. He had a decent suit on and was clean cut, but his shoes were not the right the right fit.  Had he went and invested in a pair of shoes to match the outfit, he would have been a shoe in for the job. (Pun intended).  

You may categorize my opinion as shallow or imperfect, however, I've witnessed people getting selected for jobs and opportunities constantly based on how they dress and how professionally they act in the work place.  

Are there times where your attire does not matter? Possible... probably... I am not an expert in this, however, I'm sure there is a situation somewhere it wouldn't matter. In the professional world, it matters in making a GOOD first impression within that first few seconds. You can only make one first impression.  Why not make it count?