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All Forum Posts by: Phillip Dwyer

Phillip Dwyer has started 93 posts and replied 1896 times.

Post: First deal, multi-family in the Las Vegas region. Good time?

Phillip DwyerPosted
  • Real Estate Agent
  • Henderson, NV
  • Posts 1,970
  • Votes 549

@Ramin S. If you decide on 2-4 family properties in Vegas, I would plan on having extra reserves in the short run to cover non-paying tenants. I don't currently manage any 2-4 family stuff, but I do have a few older SFR properties in the portfolio. Those are the only ones we've had trouble collecting on during this Covid mess.

Post: Sales Person Making an Offer with Seller's Concession

Phillip DwyerPosted
  • Real Estate Agent
  • Henderson, NV
  • Posts 1,970
  • Votes 549

@A Morgan You'll want to chat with your broker on this.  Since you're an agent under a broker, you're likely going to need to disclose both your licensure and the broker's information.  You're broker is the one entitled to the commission, so you'll likely need to chat with him/her about any changes to commission prior to writing the offer.

Post: Buy the house I'm renting as my first property?

Phillip DwyerPosted
  • Real Estate Agent
  • Henderson, NV
  • Posts 1,970
  • Votes 549

What about seller financing?  Could you borrow a down payment from family members?

Post: Do you really need to be handy to be a landlord?

Phillip DwyerPosted
  • Real Estate Agent
  • Henderson, NV
  • Posts 1,970
  • Votes 549

@Account Closed So a doctor that owns a few rentals is doing it wrong if she chooses to hire a professional to work on her  properties?  I agree that you can save money by learning how to do work yourself on your investment property, but you still have to factor in the opportunity cost.

Post: Do you really need to be handy to be a landlord?

Phillip DwyerPosted
  • Real Estate Agent
  • Henderson, NV
  • Posts 1,970
  • Votes 549

@Account Closed I don't think it's a matter of not wanting to get your hands dirty when people say to hire the work to be done.  I think they are looking at it from a return on time perspective.  Many people that invest in real estate have good paying jobs that they could make more money by working a couple hours at the job than what they would save by doing the work at the rental.  

Post: Potential Bubble Markets

Phillip DwyerPosted
  • Real Estate Agent
  • Henderson, NV
  • Posts 1,970
  • Votes 549

@Nick Gerli. In Las Vegas we've been getting a lot of traffic moving here from California.  Some of those people are working from home for companies not based in LV.  I suspect this new found mobility is happening in other parts of the country as well.  Will this be the new norm or a short run blip?  If it does run longer term, those using models based on the traditional income data will need to tweak their methods.  

Post: How much money should I save before buying my First property?

Phillip DwyerPosted
  • Real Estate Agent
  • Henderson, NV
  • Posts 1,970
  • Votes 549

In the current environment, you should probably pad your emergency fund.  Covid is impacting how governments are treating evictions, business operations, supply chains, etc.  

Post: Inheriting a Tenant On Month To Month

Phillip DwyerPosted
  • Real Estate Agent
  • Henderson, NV
  • Posts 1,970
  • Votes 549

@P Baxter Hudson I like this idea.  I've seen some similar terms offered by sellers of tenant-occupied listings.  Basically it's some sort of rental income guarantee.  

Post: Inheriting a Tenant On Month To Month

Phillip DwyerPosted
  • Real Estate Agent
  • Henderson, NV
  • Posts 1,970
  • Votes 549

You may also want to ask the seller for any documentation of the condition of the property prior to the tenant's occupancy.  

Post: Building a dedicated college rooming house

Phillip DwyerPosted
  • Real Estate Agent
  • Henderson, NV
  • Posts 1,970
  • Votes 549

A quick thought came to mind. What are the occupancy limitations for SFR zoning in those areas? Often they limit the number of unrelated parties in a dwelling.