All Forum Posts by: Phillip Dwyer

@Berenice Pineda. You'll need a 25% down payment plus the closing costs.  You may need to save up a little more before you start.

@Frederick Peregrino Here's a list of some things you can do that will get you the most bang for your buck in the Vegas market:

1.  New paint

2.  Matching appliances

3.  New flooring.  If you can, try to do solid surface in the high traffic areas.  

4.  Updated fixtures

5.  Clean landscaping

A fresh clean look with good smells gets units rented fast.  After that, pricing is everything.  Feel free to DM me to chat about the process and property management.

That’s awesome. I manage for several vets and active duty. I can help you purchase as well. Feel free to send me a dm. 

@Jimmy Dang. Thank you for your service!  You're going to love Vegas.  There are several active BP members in town to connect with and network.

Are you going to be active duty while here?  

@Matthew Hoef I used to work out of an appraisal office in Royal Oak.  I still have some great friends back there that also invest in Macomb County.  I've noticed pricing really has gone up there over the past year or so.  From what I understand, rents are still improving too.  It's hard to beat the cashflow there, but I can understand your desire to diversify out of state.  

@Matthew Hoef. Where are your Michigan rentals?  

So far rents haven’t been going down in Vegas from my experience. We’ll know a lot more around Feb 1st. 

@Dave Kapsack I manage several condo units for investors. I've helped people buy them for investment as well. Strength of HOA financials and upkeep of the complex are 2 big factors to look at during your due diligence. Usually HOA fees include some of the utilities, so consider adding utility charges as a line item on the lease to offset some of your HOA expenses.

You can also check out reviews from residences of complex online to see what they are saying about things like parking, amenities, ect.  

I think I would shy away from really small condo communities with lots of amenities, as the maintenance expenses are not spread over enough units making the risk higher for special assessments.

Otherwise, I think there can be decent price to rent ratios found in metros where SFR numbers don't look as good.

@Ryan Cleary Have you thought of hosting a meet up live or virtually for real estate investors in your target market?  That's worked for me in the past.  

Good morning @Prerana Singh. Based on your post, I'm assuming this will be a purchase of a primary residence that you will live in.  Is that correct?