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?

- 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

- 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?

- 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?

- 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?

- 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

- 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?

- 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

- 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

- 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

- 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.