All Forum Posts by: Aaron Hunt

Update: Tenant submitted full payment, with all Late Fees and 5-Day Pay or Quit Fee. My guess is this tenant won’t be sticking around much longer. Very happy to avoid an eviction during this time of year! Happy holidays all!

Or...you can do both. My day job is medicine. Bought two properties during residency. Most thought I was crazy to do so and that I should just wait. I saw it as an opportunity to house hack and leverage myself into low interest rates in a rapidly appreciating market. Most residents/physicians can’t find the time or energy when working 80 hrs a week to still find/manage/learn about REI. It’s a hobby for me. I genuinely enjoy it. I also educated and encouraged 3 of my co-residents to buy and they all profited heavily and were very thankful for it. Others missed the boat or just felt overwhelmed. Benefit of this field is above average income security, and significant capital that I can put towards investments as long as I continue to live below my means. At the minimum, I’ll be buying one Class A/B area condo per year which is low maintenance. At best, I’ll pick up a multi-family. I am heavily leveraged now early-on knowing that my expenses are kept in check and my income can support any negative fluctuations in the market.

Went with Southern Nevada Eviction. They seem to know their stuff. Notice was posted on door yesterday. Drove by the unit and verified. Will report back...

Summerlin. Only Summerlin.

Unfortunately, may have to start eviction process on my upgraded rental units in Las Vegas. All was well until the couple (both signed lease contract) had a fall-out and the one still living there can no longer cover the other half. The one who left stopped supporting the remaining tenant. I have been very generous and accommodating with complaints/fixes for this tenant from Day 1. All documented in emails. I was also flexible with rent payment delays for 3 consecutive months with a 5 day grace period. Now I’m tired of it and we are beyond the 5-day grace period. Eviction service team is posting the 5-Day Pay or Quit today. Will keep ya’ll posted.

Vegas is currently being flooded with “stupid moneys” or as Randy Moss would put it “straight cash homey”.

Pure seller’s market.

Originally posted by @Account Closed:

My siblings who live in Vegas have raised the rent to these numbers last few years.  

1 bed condo: 

Raised rent from $600 to $925

2 bed condo:

Raised rent from $700 to $1025

3 bed condo:

Raised rent from $795 to $1150

Shwat? I’m currently getting $1595/month (+ tenant pays all utilities) on my 2 bed condo rental in Vegas. Those condos must be in the stix, cause I don’t see those prices anywhere near me.

I stopped reading at $25k/year. Really no further advice needs to be given or taken until that is adequately addressed. Not trying to knock you down at all even if it comes off that way. I’m heavily rooting for your success here and I admire your ambition. Gotta get back in school, pick up a second job AND hustle harder in your current. This is what’s really holding you back. These other issues will disappear when you start making double what you are now. For a car to get to and from your new jobs, buy a dirt cheap “reliable brand” car, and learn to DIY asap. Look for deals on older cars with low miles from solo owners, esp retired folk who only used em to get groceries. My family has traded in a few cars for $1-5k with just 60k miles on the clock and no real issues with them other than just being older cars. I recently traded in my BMW with 80k miles on it for $4k to one dealer, which then got auctioned and sold by another dealer for $8k! (Tracked the VIN). Many other individual owners out there doing the same, check local Craigslist.

Originally posted by @Terry Lao:

Hold onto your hats. Finally, a local Las Vegas newspaper, Las Vegas Review Journal, publishes, article with headlines, " Las Vegas Expected to have fastest rising homes in US".

https://www.reviewjournal.com/business/housing/las...

I'm biased due to skin in the game, but I still think Seattle will come up on top, with Las Vegas second, due to a statistical numbers advantage that Seattle has now.

Anyone think Las Vegas can come out on top next year?

Terry

Wouldn't suprise me if it does. 

Local investor question, how much (%) do you plan on increasing your rents? The rental squeeze is for real out here.

Originally posted by @Account Closed:

Aaron Hunt thanks! Do you think I should get a business degree or something else? From what you were saying it seems like you think I shouldn't. But I think I should get a business related degree, what do you think?

My suggestion would be focusing more towards science/health or computers/technology. Business degree routes tend to be a hit or miss. Remember you don't need a business degree to "do business".  A lot of business is based on what opportunities you create for yourself by the networking you do and the connections you make. However, you'll still always have large big-name employers that won't let people move up without an MBA behind their name.

All being said, emotional quotient is FAR superior to intellectual quotient. At your age, I would find a weekend/summer sales or marketing job above all else. Doesn't have to be anything crazy. Push yourself to learn how to read people and situations quickly, and become good at persuasion. These are difficult life-skills that can't be taught with formal education, but only with on the job growth.

I personally can't say for sure based on your experiences if you will enjoy engineering or medicine, etc. However, these are the safer/more secure routes overall (at least as of now). This is really based on what you are interested in. Do something that you will enjoy waking up to do every morning and money will follow.

In theory, I always wanted to be in business/management, and "run a company". I currently am in a leadership role and manage 70+ highly educated individuals in my respective field, however, I quickly realized it's more of a headache than its worth. Sure I learned an important skillset including healthcare management, and public speaking, but more importantly I learned things I like and don't like. I could probably make a lot more money right now if I was NOT managing others - but I learned by process of trial & error, which I suspect you will be doing for many years as well.

As for the drop shipping business, this was back during the time when HD-DVDs and Blu-Rays were battling each other to see who would come out on top. I was helping to liquidate stock for some major stores during the holiday season by drop-shipping on eBay. It was a great temporary job back then, but I was pretty young and honestly didn't realize I had to pay taxes on all the money I was making so the IRS actually sent a letter to my parents house...and you can imagine how that conversation went.