All Forum Posts by: Phillip Dwyer

@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.

@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.

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

@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.

@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.  

@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.  

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

@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.  

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

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.