All Forum Posts by: Marian Huish

Are you using an agent @Anne Grello?  If so, lean on the agent for advice...  or get an (or better) agent to help you!  If you're trying to compete by submitting offers unrepresented, that may be part of your problem in a competitive market.  ...and as advised earlier, look at lower priced homes or in different markets that you can be competitive with.  Best of luck!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $360,000
Cash invested: $72,000
Sale price: $1,100,000

Purchased this turn of the Century corner rowhouse which, at the time was a boarding house in one of DC's transitional neighborhoods! As the new (Eckington) metro was planned, we saw the opportunity so purchased & converted the property to 2 legal units with Certificate of Occupancy. Rented the property long-term at market rate with positive cash-flow Cashed out after 15 years & avoided capital gains tax by rolling the proceeds into 3 units which also generated positive cash flow.

What made you interested in investing in this type of deal?

Saw the potential in an up and coming neighborhood!

How did you find this deal and how did you negotiate it?

Accidentally came across it when looking at other properties... FSBO sign in the yard.

How did you finance this deal?

Conventional financing

How did you add value to the deal?

Renovated & converted to 2 legal units.

What was the outcome?

Long-term positive cash flow and appreciation.

Lessons learned? Challenges?

Had a few tenant issues but well worth it!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $750,000
Cash invested: $750,000

Purchased this 3/3 2,759 sq. ft. golf course property in Reno, NV which is one of the hottest locations to invest due to increased housing demand as a result of tax incentives being offered to businesses bringing jobs to Northern Nevada. Companies such as Google, Amazon, & Tesla are occupying over 100K acres in what is known as "Tahoe-Reno Industrial Center" or TRIC. For more information, check out https://tahoereno.com/. As a licensed NV Realtor, I'm happy to help you find an investment prope

What made you interested in investing in this type of deal?

Long-term passive income, appreciation with potential for conversion to owner-occupancy.

How did you find this deal and how did you negotiate it?

As a Realtor, found on the open market and negotiated it during a declining market.

How did you finance this deal?

1031 Exchange funds

How did you add value to the deal?

Not necessary. Purchased in good condition.

What was the outcome?

Secured long-term tenants immediately upon closing. Positive cash flow.

Lessons learned? Challenges?

Great investment. None to date.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself and my partner/wife who's also licensed in Nevada.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $750,000
Cash invested: $750,000

Purchased this 3/3 2,759 sq. ft. golf course property in Reno located in 'tax-free' Nevada which is one of the hottest locations to invest due to increased housing demand as a result of tax incentives being offered to businesses bringing jobs to Northern Nevada. Companies such as Google, Amazon, Tesla and other high-tech companies are occupying over 100K acres in what is known as "Tahoe-Reno Industrial Center" or TRIC. For more information, check out https://tahoereno.com/. As a licensed NV Realtor, I'm also happy to help you find an investment property.

What made you interested in investing in this type of deal?

Long-term passive income, appreciation with potential for conversion to owner-occupancy.

How did you find this deal and how did you negotiate it?

As a Realtor, found on the open market and negotiated it during a declining market.

How did you add value to the deal?

1031 Exchange funds.

What was the outcome?

Secured long-term tenants immediately upon closing. Positive cash flow.

Lessons learned? Challenges?

Great investment. None to date.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself and my partner/wife who's also licensed in Nevada.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $355,000
Cash invested: $71,000
Sale price: $1,090,000

Purchased this 2 unit row home in DC's Shaw neighborhood back in 2002 when the area was considered a sketchy, transitional neighborhood. Located just steps to the U St. metro, we rented the property at market rates for 17 years before converting to short-term rentals until the District started restricting STR's for non-owner-occupied properties. After holding this cash cow for 20 years, we sold using a 1031 exchange to purchase 2 properties in Reno, Nevada.

What made you interested in investing in this type of deal?

Passive Income and appreciation in one of DC's hottest neighborhoods.

How did you find this deal and how did you negotiate it?

As a local Realtor, found the property and purchased direct from seller.

How did you finance this deal?

Conventional Financing.

How did you add value to the deal?

Modest upgrades over the years.

What was the outcome?

Good cash flow and appreciation.

Lessons learned? Challenges?

Buy in transitional neighborhoods and sell once neighborhood is thriving.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $355,000
Cash invested: $71,000
Sale price: $1,090,000

Purchased this 2 unit row home in DC's Shaw neighborhood back in 2002 when the area was considered a sketchy, transitional neighborhood. Located just steps to the U St. metro, we rented the property at market rates for 17 years before converting to short-term rentals until the District started restricting STR's for non-owner-occupied properties. After holding this cash cow for 20 years, we sold using a 1031 exchange to purchase 2 properties in Reno, Nevada. Reno in 'tax-free' Nevada is one of the hottest locations to invest due to increased housing demand as a result of tax incentives being offered to businesses bringing jobs to Northern Nevada. Companies such as Google, Amazon, Tesla and other high-tech companies are occupying over 100K acres in what is known as "Tahoe-Reno Industrial Center" or TRIC. For more information, check out https://tahoereno.com/ or https://www.2news.com/news/more-storms-tuesday-avalanche-danger-high-i-80-i-580-mt-rose-hwy-ski-resorts/article_eeb4504c-b77d-11ed-b98e-53596ff1858d.html#tncms-source=article-nav-prev. As a licensed NV Realtor, I'm also happy to help you find an investment property.

What made you interested in investing in this type of deal?

Passive Income and appreciation in one of DC's hottest neighborhoods.

How did you find this deal and how did you negotiate it?

As a local Realtor, found the property and purchased direct from seller.

How did you finance this deal?

Conventional Financing.

How did you add value to the deal?

Modest upgrades over the years.

What was the outcome?

Good cash flow and appreciation.

Lessons learned? Challenges?

Buy in transitional neighborhoods and sell once neighborhood is thriving.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself.

ditto comment about eXp as we have 86,000 thousand agents worldwide that we can connect with immediately for referrals!  If you’re with a smaller brokerage, however, you might try Idealestate @Noah Laker, Resass, and I’m sure there are other portals specific to realtors that you can connect with! LinkedIn?  How about BP?  … simply search for a realtor in your needed location!  🤔

@David Hajdu   Your first ‘go to’ on this question should be to either your broker or your mentor… That’s what they are there for!  😉

Welcome @Bradley Tovar- sounds like you’re doing wel in your real estate career!  I’m your connection for your clients looking to escape high CA taxes by moving to tax-free NV!  Here in Lake Tahoe & serving Northern NV!  Let’s do some biz together!

@Yao Thompson so are you strictly planning to use your license for your own investments or do you intend to service the public? If the latter and you’re trying to do this from out of state, you will need a team or local boots on the ground. I am licensed in 4 different states and I would not be successful if I didn’t have other agents to call on when I am not available. Happy to chat.