All Forum Posts by: Mike Mullally

I saw a house on MLS this morning. Listed at $77,000 ARV would be ~$400,000 on the conservative end I believe. There is fire damage on the inside. Even if it took $200,000 worth of work it seems like a home run. So I have a couple of questions:

1.) I am definitely not in the construction business, is there anything that would help me estimate cost of repairs?

2.) Does anyone have any recommendations on General Contractors in Vegas?

Thanks Robert,

I am a software developer by trade. I have written software to parse through and database the county site to "follow" what some of the other groups in town are doing and trying to reverse engineer their efforts. I am thinking that it would be tough to compete in Vegas. I know a couple of the bigger groups out here and I have been to the courthouse years ago and watched a few people get buried.

Would subscribing to the Legal News be a good idea, or can that information be obtained with what I am doing at the County Site searching the records?

Thanks guys, I look forward to chatting with everyone.

Thank you for the replies. I am right at about the sweet spot with my rent in that area. It rented in one day and has been rented to the same family for the past 3 years. I imagine they are there to stay and I am not unhappy with the situation. It was just a way creating more capital to roll into new things.

I will leave it alone, and use different money for my new ventures. I am excited to start building up a nice portfolio.

Actually, thank you for the answer. It was just something I was considering. I didnt know if people invest based on the cashflow or what.

I have a 5br/4ba 2700sqft house. It has had a steady renter for the past 4 years (never been vacant). It rents for $1600/mo and comps somewhere in the ~$275k range. Would something like this be appealing to investors, and if so, what is it worth?

Hello everyone,

Vegas guy here. I have always loved Real Estate and own a few houses currently. Mainly due to buying, moving and holding. I am interested in getting a little more involved with investing purposefully.

I am worried Vegas might not be the best place to jump in. Are there any areas that anyone would recommend. Either Buy and Flip or Buy and Hold.

I look forward to chatting with you all.