All Forum Posts by: Mark L.

I live in Las Vegas, but always enjoy visiting SoCal Newport and Laguna in summers to cool off.  Great place to vacation and I could afford to buy in the coastal towns but it makes no sense after you factor in ever increasing taxes and regulation (too get worse unless Cox pulls off an upset), Pro-tenant laws, hypocritical politics, very low cap rates, Mello-Roos, gas taxes, SALT cap deduction effects, etc.  Oh and some extreme water problems coming.  Vegas and Phoenix have much more upside in the next 3-5 years I think.

Henderson is a great area and lots of development happening there.  I'm not sure what type of MF supply exists down there or what your budget is.  Most of the MF caps that I've seen on the mkt today are at best 5-6% realistically and you'd have to be fairly capitalized for rehab work.  Vegas is very supply constrained today which is driving pricing higher.  Happy to talk more about vegas insights if you'd like to PM me.  Mark

My parents and I recently discussed potentially purchasing their home.  They are far away from me out of state, an older property I have no interest in owning and high RE tax burden.  Mortgage is minimal ~90K, house worth low 300K.

I proposed buying out the mortgage instead and ensuring I was 1st lien holder.  They would lose the int. deduction I believe? But I'd keep the money "all in the family" as they said at a lower rate.

Has anyone done this before?  Any tax consequences for either party here?  TIA!

Great insights Ray I appreciate it folks.  Doesn't sound like I have a large enough portfolio to dabble in Sec8, I'll stick to traditional MF I think.

I'm looking at potentially getting into Section 8 investments. interested in hearing from investors that hold these in their portfolio.  How have these properties performed from a cash flow perspective?  What issues have you run into with tenants or payments?  Anything else you can share would be helpful.

@Herwin G. Right now very selective on deals, I do like Phoenix as well, currently looking for MF there.  Doing hard money as well for investors I know.  If you want to connect offline, happy to trade notes. 

I'm an SFR investor in Vegas myself for 5+ yrs. Bought my first distressed property in 2011 which has just about doubled. Vegas had a pretty good run up due to constrained supply over the years. Not sure buying today produces a cap rate enticing enough (at least for me). However rents seem to be moving in the right direction which is a good thing. I think as rates creep up there will be more opportunities soon. I have not found a broker that was able to find deals just comb through the MLS (retail). Longer term bullish on Vegas (new Casino resort in a few yrs, Raiders, Hockey, etc.) Just my perspectives.