All Forum Posts by: Omar Merced

Barri is one of the coolest dudes, runs a good group here, and is local. Sin City REIA will be starting one in 2018.

Hi Steven. So this will be a long distance renovation? if so, you’re taking on one of the harder parts of long distance investing. You’re going to need someone boots on the ground that you can trust. Plug into the local REIAs and make some friends. 

Let’s talk. 

Find more information here.

Tax Attorney/Accountant/Real Estate Investor John Hyre Presents

“How to Legally & Ethically Hammer the IRS”

John Hyre is a tax attorney, accountant and real estate investor with over 20 years of experience. He consults with real estate investors of all sizes, small business owners and self-directed IRA/401k owners nationwide. He also represents taxpayers in audits and in Tax Court nationwide. He frequently speaks nationally on the topic of taxation of self-directed IRA's/401k's, taxation of real estate & small businesses, and asset protection. Unlike most tax speakers, John is an entertaining but often "offensive" speaker – you were warned! He can be found at iralawyer.com and realestatetaxlaw.com.

John’s information-packed presentation will include:

-What we see in audits – and why we win
-How to prepare for the audit and sleep well
-When the IRS Appeals Office is your friend, and when not to bother with them
-The number one reason investors lose audits and what to do about it
-What does it mean to be “aggressive” with taxes – and why it pays, by-the-numbers -How to pay for K-12 + college education tax free
-Self-Directed IRA’s: The best tax break out there, bar none. Well, except one, I’ll discuss it.
-How one investor retired with 50+ free & clear rentals in his Roth IRA generating $250k+ per year tax-free (this discussion will take some time, but is worth it)
-How to pay for medical tourism tax-free
-Choice of entity 101 (this discussion will also take a bit of time, but is well worth it), including:

-S-Corporations
-C-Corporations
-LLC's
-Land Trusts

Wouldn't miss it!

Hi Jonathan, Welcome to BP

Summerlin is A and no one really uses Spring Valley to describe the areas so not sure where you're talking about but I get the general idea. There's more good areas then bad. I think moving here and getting a feel for the area will help with your assessment of which areas you want to concentrate. You've already addressed the major objections with your formula which most investors seek. Having pretty houses definitely makes the land lording easy but reduces your returns. Now, we all want things to go perfect but I will tell you that not wanting to be discouraged by a negative experience really caught my attention. If you're in this arena for any amount of time you are going to find that you will go through some negative and frustrating experiences. It comes with this business. If you're not ready to embrace that I don't think your quite ready to get involved. Now this is just my opinion and it's worth what you paid for it. I just don't want you to think it's all rainbows and unicorns over here. When you come back to town and want to grab a coffee let me know. Good Luck

Hi Rob, You're too high. Also, you're not listed in the MLS. Don't know the numbers but I know a majority of people enlist the help of an agent when renting. It should rent for $1250 or close to. I would consider listing it and reducing the price gradually like @Account Closed mentioned

Hi David, welcome to BP. There's some missing information on your question but for cashflow and the amount you have I would agree with @Ingrid J. about looking at midwest that are cash flowing. You might even consider a turn key provider. Regardless of what market you choose I strongly believe that you need some boots on the ground wherever you go that you can trust. As far as Las Vegas finding a cash flowing property is becoming more and more difficult but we have seen some rental growth recently so hopefully it will get better. If you want to talk to a local from Las Vegas give me a call. Take care and safe.

Meeting is canceled! See you next month.