All Forum Posts by: Leo Rodriguez

In these times ONLY CASHFLOW. If you want a secure investment, buy only properties that cashflow every month. That way you don't have to worry if the housing market goes downhill. You can still buy for appreciation but you can't predict the future. If you had asked that question around 2011, then appreciation will be number one. And of course there is nothing better when you have both.

@Ikaika Farmer here are a few ideas

1. Start a business

2. Buy real estate that cashflows

3. Invest your income, don't give it to the bank

4. Don't spend on what you don't need

5. Always keep learning new skills

6. Think of increasing your income

7. Don't buy lottery tickets, your chance of winning is 1 in millions

That's all I can think of now

Most 4-plexes on the market are in the old North Las Vegas and in Las Vegas near the strip. Most of these places are too old and overpriced (300k-360k), and likely they need repairs. There are newer from the 80's at around the same price range, but you have to be very selective. And there are a few others that are newer around the valley but they are over 400k and up. Cash flow will probably be less or none since you are planing to live in one. I think you can still find a reasonable property, but look out for rundown places.

Hope that helps!

When you buy a single family or small multi, lenders require good credit, and enough income. On the other side for commercial loans they require experience, net worth and good credit. What exactly do they mean when they say experience? How many years of property management is required for a commercial loan?

@Jennifer Rysdam It's stated in the lease that they need to have renters insurance and they signed it. If you have home insurance you don't have to force them to get it, your home insurance covers you for whatever happens. If someone breaks in and they get robbed, they can't blame or force you to pay for their things because they signed the lease. That's what renters insurance is for.

Hope that helps!

@Jacqueline Carrington It was required when requesting the permit

@Kenneth Garrett Yes, he's licensed

Thank you everyone for the feedback!

Hello BP users,

I recently did an update in my multifamily apartments with the building department permit, and on the process they told my contractor that I needed a maintenance person to be registered with them in order to avoid any penalties. When i bought this property I did it with the intention of cleaning it myself. Now I have to pay around $300 per month for maintenance alone and that takes a big chunk out of the rent income. Is there any state law that requires landlords to have someone registered with the city for maintenance?

Property is 4 units and located in Las Vegas, Nv.

Thank you 

Thank you for the info!

Is a 4-unit property required by law to have laundry on site in the state of Nevada?

Is a 4-plex apartment considered residential or commercial property in Nevada?