All Forum Posts by: Omar Merced

Great post Jason. Most people don't realize that most wholesalers have and only need 3-5 people that they work with because they know that they can and will close. Thats why I find it entertaining when I get a new wholesaler asking a lot of questions and when I ask if they have a deal they say they are building their buyers list. Also, there is always the bigger fool theory. Marketed correctly to the wrong person and someone will overpay. I recently had someone outbid me $20k. Based on my numbers it was already tight. Those individuals might get burned and then say that flipping  doesn't work. 

I do have a counter point as far as the thinner margins. I don't necessarily agree. I think that we all need to stick with our models, however, you need to adjust to the market. Las Vegas is hot and will be for the next couple of years (in my opinion). I have lowered our margin spread but even with that I will not go any lower than my current spread because I have flipped a few houses and I know that if you cross that threshold and something goes wrong  (and eventually something will always go wrong) you will be lucky to get out unscathed. 

Hello All,

Please come join us for great discussions on the reality of investing. This will be a meeting like no other. No sales pitch, not trying to get business from you. Just talking about the good, the bad, and the ugly real estate investment.

This month we have an amazing speaker. You do not want to miss out on the information that will be provided.

Matt Theriault is a USMC “Desert Storm” Veteran who enjoyed 15 successful years in the music business as a record producer and label owner. When the digital download killed the record store, he found virtually everything that he had built become obsolete in a matter of months. The demise of his music business was swift and unforgiving to the point that Matt was forced to start life, personally and professionally, from square one at the age of 34. The transition from a 7-figure year to $7 an hour bagging groceries was a humbling one to say the least.

When the most unlikely of mentors, the grocery store manager, shared with Matt the wisdom “Real estate is the final frontier where the average person has a legitimate shoe at creating real wealth,” he embraced it, ran with it and has never looked back.

Theriault, now an accomplished real estate investor and coach has built a cash flowing real estate portfolio of 100+ units over the last 10 years, is enjoying his financial independence, continues to build his portfolio and has discovered a new passion for creating systems and showing others how to replicate his results.

You will find that his approach to real estate investing is conservative, simple, to the point and efficient. Matt credits his success to performing as much, if not more, due diligence on his real estate team as he does the market and properties themselves.

Please sign up here where you will find all the details.

Networking afterwards. This is for my Las Vegas, North Las Vegas, Henderson, and anybody in town that day. You don't want to miss out.

@Victoria L. I say it's too early to tell but I've already seen speculators already paying more for properties. I've never been in a town that got a NFL team. Maybe someone else might be able to give some insight on what it does to the surrounding area and overall market. Right now I'm just guessing.

Hi Katherine,

Welcome to BP and Las Vegas. There is a meeting tomorrow with the Outback group and it will have three wholesalers on the panel. If that's what you want to do I would say that is a good place to start. You can find their info on the meetup site as well as many more. Hope to see you there. Hit me up if you want to grab a coffee and talk. Welcome and good luck!

Hi Jordan, there are few groups that are good to meet people here in Las Vegas. I run one so I am bias but check out all of them and make up your own mind. Hope to see you soon!

HI Bill, Welcome to BP. You say you want to expand your cashflow but it's hard to form an opinion with limited details. If you don't have additional capital and plan to have a more passive role then I would do as Nicholas suggest however, if you are trying to make this your full time profession then I would suggest you educate yourself in what ever area you want to concentrate and figure out how to leverage OPM with your own. There are a couple of monthly meetups that I would suggest you tap into as you figure out what you are trying to do. Call, text, or email anytime to talk about real estate. Good luck and hope to see you around.

Hi David. Welcome to Las Vegas. Let's meet sometime and talk. I run the Sin City REIA and we meet every month so I hope to see you. Call, text or email me anytime to talk real estate!

Hi David,

Here is a quick map of all condos less than $100k. There are a little under 200. Your good rental question is subjective. How would you define good? Are you speaking of crime or return or both?

Here is a map of the City of Las Vegas where they are ok for now with a business license... Also, North Las Vegas has no restriction as of yet. With any short term rentals you always should have another exit strategy (i.e. corporate rentals) just in case something changes. 

Hi Stephen, I'll only talk about Las Vegas because I live here. I've seen the cost per door go up so much I don't think it makes sense at least for me. I'm actively looking but can't anything better than a 6% cap and that's in a questionable area. News of the Raiders has now increased investor activity so for now I'm out of Vegas unless I happen to get lucky.