All Forum Posts by: Phillip Dwyer

What part of the metro is your property located?

There are some things to consider then if you plan to live in it.  Do you care if the community has amenities like pools, green belts, and gated entrances?  Do you need a garage?  A lot of the communities that have the amenities also have requirements to use their onsite property management, which for many is a deal killer.  

Where you work might also drive some of your location decisions.  Does driving distance matter?

Hi Bryan,

Do you plan to move to the Vegas metro? In order to use an FHA loan to buy a 2-4 family property, you have to live in one of the units.

Some condo communities have rental restrictions.  Some are not approved for financing.  

This depends upon a bunch of factors:

1.  How much money do you have to invest?

2.  What's your time horizon?

3.  What is your risk tolerance?

4.  What is your ability to obtain financing?

5.  How much time do you have to invest?

Keep in mind the penalty could be worse than a fine.  They may make you rip it out and start over.  

If a house is sitting on the market for over a year, even with a tenant, there is an issue.  Walk softly in that scenario.

In the current market, there's not a lot to be negotiated.  You'll likely be paying over list and over appraisal if you actually want to get something.  So then you are really just calculating if the numbers still make sense in that scenario.  

There are a few condo developments in town that are zoned for hotel use, which would negate the need for special licensing (make sure to verify that).  However, most of those may make you be part of the hotel pool and pay big fees.

I know several at different firms in Henderson.  Send me a dm with your criteria.