Property Analysis Help

[Joshua Castillo]

Hi Everyone, 

I’d like to potentially invest in a property and would like to ask for advice/feedback on the potential purchase. 

The property is in Las Vegas, Nevada. I’d be submitting a 82K offer with 20% down as an investment property. The community has potential rents of 1K and the property was previously long term rented at $875. 

At 1K, this would potentially be $364/mo positive cash flow. $4,368/yr. 

Is this a good investment?

[Casey Powers]

Originally posted by @Sachin Amin:

@Casey Powers 99.99% proformas I have received from turnkeys or realtors are inaccurate most are speculated to attract investors - we will know the actuals only "when rubber meets the road" at least that's true in my case - but I rest my case as I don't own any units in LV market yet :) :)

That's why it's better to do your own numbers and/or get rent estimates from a PM who would be "stuck" with you after providing a rent estimate, assuming you hire them based on that estimate. Realtors want to sell property and for the most part, don't care what happens when the sale is closed. Then it's not their problem. For me, when I take on a new client it's long term and I will have to hear them complaining if I can't rent property at or near my estimate. That doesn't work for me. LOL

And I am a real estate agent too - in Nevada we are legally required to be. But my focus is PM and investors. If I help someone buy property I want it to perform, because it will be my problem to babysit if it doesn't.