3rd Househack in Las Vegas

[Vincent Owyong]

Investment Info:

Single-family residence buy & hold investment in North Las Vegas.

Purchase price: $400,000
Cash invested: $34,609

3rd Househack

What made you interested in investing in this type of deal?

Added value potential from simple upgrades.

How did you find this deal and how did you negotiate it?

MLS through Zillow/ Agent. Tough market to negotiate down under current housing market.

How did you finance this deal?

Own equity with the VA 5% down payment.

How did you add value to the deal?

Projects Phases:
I) Upgrade critical equipment (Water heater and HVAC)
II) Convert Loft to Room

III) Convert front yard grass to desert rock landscaping to save on water bills.

IV) Upgrade Kitchen with stainless Steel Appliances
V) Paint and add kitchen cabinets and fixtures.
VI) Replace Carpet

Lessons learned? Challenges?

Always update team members on current RE goals. CPA was not aware of current investment decisions and needed to be informed. Property Managers/ Realtors are not always available to walk you through the process and you must learn on your own. This halted the due diligence/ closing of the home by a day. Always be on top of you team.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, working with agents who understands the market and a lenders who that understands your goals will smoothen out the process from beginning to end.