All Forum Posts by: Julien Jeannot

@Bill B. Yeah, he wants to make sure he won't be able to have anything against him in a lawsuit but soon as this is over he wants to hire a property manager. I like the idea of hiring one now and maybe using their legal experts. Thanks for the reply.

@Kristine Thompson- thanks ....1)  get  formally pre approved  if you havent already  2) get an experienced realtor to work with 

You cannot occupy the property on a DSCR loan, im not sure about hard money loans but to be honest I'm not sure why you would want to take on the harsh terms of a hard money loan for a house hack.

These are investment loans, and for DSCR loans the terms are based on projected rental income and the lenders are calculating their risk based on how certain they are that the property will produce enough income to pay back the loan. They are not analyzing your personal income.

@Julien Jeannot I can't speak for my property because I bought it a few months ago. On average though SFH in Vegas have appreciated at greater than 10% annually and personally I think there's still upside - esp. so if you pick in the nicer neighborhoods. I'm seeing more people (and executives) moving to Vegas from expensive cities like NYC/SF/SEA due to favorable living conditions and taxes, and with that they're slowly opening up new offices or HQs here as well. [We just opened up our Vegas office this week for instance]. There's diversity in job market that's starting to grow due to favorable taxes, entertainment, food, culture, sports... AND you can still find properties that cash flow and there's favorable landlord laws.

I'd note that there could be other cities with a lot of potential as well, but I felt comfortable with Vegas's trajectory given my familiarity with the city (I grew up there and have family there). Happy to chat further if greater interest. FYI most of what i learned was through Bigger Pockets and I worked with Eric Fernwood, who posts a lot of Vegas market stats on Bigger Pockets.