OWC, Las Vegas and First Investment Property

[Ryan Landis]

Hi BP, long-time reader, first time poster. I was hoping to get some feedback for the first time, or direction to some specific forum post/articles (I have read a ton already, but maybe there are some people can rec specifically).

*Please let me know if I did not get specific enough/discuss the right things in the post.

I would like to make my first investment in a property rental. My goal is to try and establish a portfolio of rentals in the Las Vegas area over the next 5-years. Without delving into my current 5-year plan and dragging the post on too much, I have a specific plan in store that ideally I would like to follow.

I was hoping to get feedback on OWC loans for investment properties. My primary residence is in CA, but due to the cost of the property market in my area I feel Las Vegas is better suited for my objective. Las Vegas is also not too far from my residence (I can be there in about ~2 hours pretty easily).

So first, any feedback/input would be appreciated. Ideally, I would like to have something in store by the latests January 2014. Right now I am thinking SF or a Condo just based on learning the ropes. I understand the duplex/triplex/etc... argument, but for my first investment, it sounds like 1 tenant may be easier to deal with than several?

I have scanned the forums, but if someone can recommend a good agent that could get me up to speed on the different neighborhoods/market that would be great. I would also like feedback on a great property manager!

Thanks and hopefully this was a good first post :)

Cannot wait to hear back.

Best,

Ryan