All Forum Posts by: Josh Edelman

Hi Michael - younger investor here with a MTR property in Las Vegas. I have great returns and the tenants have been high quality so far. It's been fairly smooth process and can talk more details if you desire. There are various platforms to manage it through and I manage it myself through some different sites. 

I have a lender, who did a fantastic job getting me a home equity line of credit on my primary residence in order to purchase a rental investment. Let me know if you’d like me to put them in contact with you. Sounds like he might already have several people lined up.

It certainly depends on a lot of factors, and most importantly, your personal situation and finances. As well as your goals. Can you explain what your current situation is? How liquid are you? Are you already preapproved?

Buying, at the end of the day is most the time a better option than throwing money at rent for years on it. As many mention it above, vegas is only going to get more costly. We have the Oakland A’s moving into the city, we have Hollywood, potentially making big moves here, and never ending investments, are only growing  to become more popular and more costly. Yet people moving in from California, and regardless what the rates do, especially, if they go down, prices are going to hold steady for a good while and if anything definitely increase.

Hi Mike, I see you’re posting from Las Vegas. I am in Las Vegas as well. When it comes to multi family, it is practically impossible in Las Vegas to find a deal, and/or a multi family that makes sense compared to the rest of the United States. Not to say that it’s not possible, anything is, of course. The multi families in Vegas bar little to none and those that are available are usually located in rough areas. Very little income that would most definitely not match the mortgage payments. Mid term rentals and regular long-term rentals are a better option in terms of residential family or even condos in certain areas.. Even still going on Vegas, but it all depends on your financials and what strategy want to employ. I currently do mid term rental and it’s been going pretty well. I can definitely explain more for the city of Las Vegas. Otherwise, welcome to Bigger Pockets Lead and I wish you the best! 

@Stephen Sokolow Youtube! I dont have a specific person I follow. I just gather tips and concepts and learn on my own and apply it to my market. If you are in Vegas feel free to DM me. 

A client of mine wants to sell his property. He recently lost his job and went into forbearance in April - so he hasn’t paid his mortgage since April. 

He recently refinanced his home for $550k and has a balance of $546k. It could sell for $560k right now. Could rent for $2200/mo. I believe he was paying $3200/mo for his mortgage. Rate is 5.5%. 

Any creative recommendations on how I could turn this into a smart investment? He just wants to get out of the property. Thanks! 

 Fadia, just sent you a DM! 

Here are the median prices specific of the Black Mountain Ranch area. Prices dampened a little bit this past year as the rest of the market did, but appreciation continues to grow over the long term. In terms of rental rate, for the past 5 years overall rates have been $2000-2500 on average. 

@Fadia Eramya-Sealy Have you thought about potential new-builds? I'm working with a lot of buyers with new builds - they just are crushing the resales in Las Vegas now. That is what many buyers are doing in Las Vegas: getting into new builds. Between the rates, the closing cost credits, and all the warranties and brand-new appliances that come with them, it's just tough to beat. Add in the value add from the A communities/parks/client base around the area, I would consider that. Let me know your thoughts!

Josh Edelman

973-459-0938

Urban Nest Realty

 I haven't but I'd like to. THanks!