All Forum Posts by: Jake Andronico

@Jaylin Warner 

Congrats!! Awesome way to think. I've house hacked twice in Reno, NV and it's completely changed my life. 

Explore using seller credits to aggressively buy down your rate to make the payment more comfortable. 

It sounds like the payment is more important to you than the price. 

Here's my story, and what I regret house hacking starting at 22 years old: 

https://www.biggerpockets.com/forums/922/topics/1133476-hous...

We just discovered a pretty incredible builder incentive here... 3.875% interest rate, even for investors!! Turnkey townhome product that comes with all appliances, blinds, washer dryer, and is completely ready to rent from Day 1. 

This is fixed for 7 years, then adjusts after that. 

What's the best rate you guys have seen for investors recently in your market? 

@Jenni Lee

You can always make that ask! The seller will have 3 options once you do: 

1. Accept

2. Re-negotiate

3. Cancel the transaction

@Shane Finnegan

Congrats!! That's a great position to be in. I know many turnkey properties in Reno, NV that check that box. 

A 5.5 cap is very achievable. 

You can get into a 6-8 unit multifamily on the West Coast, or a lot more in the Midwest. 

Whatever you decide, I wish you the best of luck!!

Agreed! Seller credits and price reductions are happening left and right on a lot of homes. 

Inventory Climbs, But Still Below Historical Norms

Active single family inventory in Northern Nevada rose to 1,722 homes in May 2025 — a sharp +39.3% increase year-over-year from May 2024. 

That’s the highest level of available inventory since summer 2022.At first glance, this might feel like a flood of listings. But zoom out.We’re still well below the long-term average. 

For perspective, from 2015 to 2019, active inventory regularly exceeded 2,000–2,500 homes during peak months. Today’s 1,722 is higher than the past couple years but still low by historical standards.

What this means for the market:

More selection, less competition.

Buyers — especially investors and home buyers with cash — likely have more room to negotiate and more options.

Sellers need strategy. 

Properties sitting without price alignment or clean presentation won’t move. 

The days of “list it and forget it” are over.

Rents hold the line. 

With relatively limited new build completions/starts and even modest population growth, rental demand remains resilient.

What're you guys seeing in your market? 

I've been investing in RE for about 6 years now in Reno, NV and have learned a ton. I have two properties now that I've improved slowly over time, and cash flow well, but it wasn't exactly a straight line of success. 

I bought my first property at 22 and have made plenty of mistakes. Here is my full post on what I regret: https://www.biggerpockets.com/forums/922/topics/1133476-hous...

If I were starting again today, it's a completely different world, and here's my opinion on where I see the best potential opportunity in todays environment when just starting out: 

1. Assumable Loans - Yes, 2-4% interest rates are still possible, even in todays market. How? Assumable loans. Almost all VA and FHA existing loans are assumable, and no, you don't need to have saved the full "gap" amount down between the loan balance and purchase price. I work with a lender who can fund down to as little as $25K. I just found a duplex in Reno, NV that has an assumable 2.25% FHA loan...

2. House Hacking - If you're willing to buy a single family home and have roommates, you're ahead of 95% of people I talk to. Most people are NOT willing to do this (life circumstances, having a family, significant other, etc.), but the time to do it is when you're young and hungry to get ahead. A duplex-four plex can work great of course, but usually require more capital (at least in our market). This can greatly impact the outflow you have on your mortgage, and can help you build reserves and/or save money for the next purchase. 

3. Don't sleep on New Builds - This is the most unsold, completed new build inventory since 2009. Why? Builders HAVE to sell, no matter the market conditions. Resale sellers may not need to sell, and can typically hold on a lot longer (depending on the seller of course). We're seeing VERY attractive interest rates, $ towards closing costs, and appliances, blinds, etc. included in most new build inventory now. I've also been able to negotiate price and terms for multiply clients, some purchases fairly significantly under comps (especially if they're closing out a community). 

4. Seller Financing - This has blown up all over online, and it can certainly be a killer strategy. In our market it's fairly rare to have a seller offering an incredible seller financing deal, but it's still possible and worth an ask. Learn the ins and outs and why it may benefit the seller, and lead with that rather than how it could benefit you for the highest chance of an offer being accepted. 

Final Thought: 

- Yes, it's still possible to get ahead when you're just starting out, but yes, it will take being creative in today's environment, and there are multiple ways to do that. Real estate is a VERY long term game, and I've never found an owner that regretted purchasing a property they could afford in their 20's or early 30's. 

My favorite quote from Alex Hormozi: "It's never been easier to win, but it's also never been easier to do absolutely nothing". 

P.S. 

What're your thoughts? Is it still possible to win when starting out in todays environment? What strategies have you seen work? 

If you're in SoCal, have you considered Vegas? 

I grew up in NorCal, and ended up moving and living in Reno, NV because of it's proximity, better landlord/tenant laws, strong appreciation, low property taxes, etc. 

Just a thought. Best of luck to you! 

@Ayden Berchtold

Great thinking!! 

If I was in your position in the market right now, I'd be as well versed as possible in assumable VA loans.

You have a huge advantage, and can still get a 2-4% interest rate, even in todays market.