All Forum Posts by: Stephan Kraus

I actually almost bought a 24unit in that area last year, we found a few things during inspection that the seller did not want to fix / discount for, which ultimately killed the deal. It reall really depends on the where, neighborhoods there alternate between b- (at best) to d- street by street. i do think long term the area will stabilize and improve, especially with all the flipped homes there and on both sides of Maryland Parkway, but theres still alot of room for improvement. Boots on the ground are essential, so either find a good Property manager and / or someone with local knowledge and network.

@Samuel Cohen

i just replied to your Instagram message when i got the keyword alert about "vegas" 😂 (you need to set those up!)

..these guys above are correct! Although i believe if you're completely new and plan on contracting out most of the work, its more important to study the areas, network and vet your people than to worry about the WHERE - theres certainly upsides for focussing solely on markets outside your own, its certainly doable and a lot of people do it, even (or maybe especially) when your starting out, the added risk can be minimized and downsides you cant eliminate may be worth the upsides. It really all depends on your personal situation, goals and skills.

@Jonathan Greene loved your answer! Watch out, Sam's kind of a BRO though! 😘

Sorry for OT but what lender are you using in Las Vegas? 

As a fellow "car nut" i'd like to tell you one thing - In 2016 i sold my racecar in germany (that i worked incredibly hard for (and on) to be able to own in the first place - Im talking about working almost every not sleeping minute of the day, maybe ill make a post to tell this background some day)

It was one of the hardest decisions i made in my adult life, but three years later i know it was the best financial decision i could have made.

I put 35k of the proceeds towards the first property purchase i made in the US when i moved here, this one property grew into a almost 1,5M portfolio within 3years, creating enough cashflow to buy / build another car WITHOUT having to work 14h days - but after seeing the compounding effect of putting that cash back into Real Estate, it really helps separating the WANTS from the NEEDS 🤯

That beeing said - I still do get to "scratch the itch" from time to time on the track, and have a little project in the garage (actually in the garage of one of my rentals, and i only spend money on it when i close a new deal). Splurging on ONE thing can be extremely satisfying and motivating at the same time, as long as you limit it to really only ONE thing. Your finances seem to be great, and the fact that you ask here shows that you are not just blindly follow your WANTs - Sometimes we need to make a decision that makes us happy over what we know is the "smart" thing to do - even if its just to teach us, what the "smart" thing actually is. If you really truly want this car, and can afford it, go buy it, enjoy it - im sure we'll see you back here really soon either way! 🤙🏼

Hey Jens! Are you german by any chance? Name hints that! 😝

On topic - it would depend on what your goal is. By the sound of it, you are looking to buy another investment? If you purchased in 2010 and still owe 100k, i assume the value is probably in the 300-330k range? If so, i personally would not pay off the loan but try the opposite, cash out refinance (possibly even at a lower rate) or get a HELOC up to 80% of the current value (so you still cash flow positive) and use that to buy another property.

Really depends on where you are in your investment journey and what your future goals are 🤙🏼

I would say - dont worry too much about "who buys how many and when", and LLC's. Those things you can focus on when you buy the next, i would recommend on working on getting that first one first - whats the most important next step that gets you closer to this? Good luck!

@Greg H.

having the same thought, maybe you can divide and market as two units with double bedrooms, would be a hot commodity in my market - just a thought!

@Tim Schroeder

OT, but great comment! very informative, elaborate and constructive, without bashing on OP! 🤘🏻

..notuing to add, there's been some great nuggets in here!

So to get this straight, you get offended about getting called "boomer" (which is a generational term not coined by me), but call me bro (which you clearly defined as a negative in your OP). You don`t provide ANY value in your post, that I did not even comment on (which is the point @Alexander Felice is making with this one) and insist that you are "still here responding" and "dont want something from it", BUT mock me for responding (with a meme, to a meme posted, not to you) and demand I "add something productive" instead of just calling your BS out? Sorry you can't victoriously fortnite-dance in your living room after giving a defeating retort to my comment.. and then finishing off with what you mocked in a previous post and "Tell someone on the internet what to do"? Who's the real bro here, bro? SMH

..signing off 

@Jonathan Greene

ok boomer :)