All Forum Posts by: Stephanie Kern

 All of the feedback has been very helpful!  Thank you and I sincerely appreciate your time!

C class, 89030, 3 bed/2.5 bath, 1170 sqft, last sold in 2019 for $106K, I can get the recent appraisal paperwork.

I just double checked and they were $303 for 2021 and $330 for 2022 so yep, cheap cheap here in the desert!  As far as being conservative, I have a tendency to be TOO conservative and watch opportunities slip by because I second guess myself or get cold feet.  I keep a lovely mental portfolio of missed opportunities that I have spotted and someone else has made money on.  I'm here to get past that with the help of experienced investors like yourself who will thoroughly pick apart deals I think I see.  

OK, what else should I consider on this townhome?

Taxes are $315 a year, management is 7% ($126).  I did however miss the vacancy at $90.  Still comes in around $300 a month.  There is also room to raise rent.  There is currently one listed on the section 8 website for $1900, as soon as it's rented I can use it in my comps. 

(I just noticed in the photos it has a new/newer AC)

PP $175,000

taxes $315/y

HOA $95/mo

20% down conventional loan at 7% PITI/HOA would be $1103 a month.

Management and cap-ex = $306

At $1800/mo rent you would cash flow $391

Feedback is greatly appreciated!

 ^^^THIS!  Las Vegas uses less than their allotted quantity from Lake Mead and have created systems to manage the water we do have.  The news is good at selling doom and gloom....it's a different story when you live here. 

Hi, there are no rental restrictions, HOA is $95 a month, appraisal came in at $175,000 with no conditions (he has reduced the price accordingly). I thought the price vs rent was off as well but I can find recent comps to support both. The location may be keeping people away? I don't believe that myself as I know how unbelievably hard it is for renters to get anything right now!

I am an agent in Las Vegas and I recently came across a few townhomes in North Las Vegas that appear to be solid cash-flowing properties that will meet the 1% rule and maybe even a little better.  I pitched it to my list of investors (not a long list!) and everyone wants flips, not buy-and-holds.  The owner is asking $180K and the most recent model match rented out for $1800.  I see some serious potential here!  And if it's a bad deal I would also love some feedback as to why!

It's located in Pahrump, NV.  I will watch and see what happens with this house but I think it's not for me.  It is already at the top of my budget and if anything really terrible comes up with the foundation then I might be in trouble. 

Hi Jay!  I am a former Portland resident myself...man do I miss it!  Anyway, the house is located in Nevada about 2 hours outside of Las Vegas.  The area is not known for shifting foundations (at least to my limited knowledge) but I have never done a project with any foundation issues and I am very hesitant.  I would hate to turn down an excellent opportunity due to fear so I am trying to gather as much information as possible.  At what point is a foundation a total loss?