All Forum Posts by: Alexander Yates

Hi @Osvaldo Segura,

It’s definitely doable! I’ll wish you luck finding a multi-unit property to do this with. I put in multiple offers on places in 2019 in an attempt to do the same thing in the Reno-Sparks area, but was outbid by cash offers 10/10 times. The market is even more competitive now. Eventually, I settled on a single-family home and used a rent-by-the-room model. If you don’t mind sharing your common spaces, this can be a very effective way to go. I have since moved out of that property, it’s been appreciating nicely, and am currently remodeling. I expect to cash-out refinance by the end of this year with at least $120k+ taken out to pay off remodel expenses and put the extra amount into another property.

Don’t get discouraged. There’s always a way to make something work if you’re willing to get creative. I’d be happy to chat further if you need help along the way.

Cheers,

Alex

@Josh Rodriguez, I have to agree with Michelle that it depends on your goal/what you’re looking for with your rental property. Different areas of town will serve different types of renters.

Nicely done, Lana! I've got a similar property just north of UNR that is still slowly getting renovated as a live-in flip. In the process of buying the next one in old NW as well. Sending you a connection request; please reach out if you ever want to discuss another Reno/Northern NV deal.

So bummed I just saw that there was a Zoom meeting! 

Welcome, @Jessica Sawyer!

I am in Reno if you’d ever like to chat specifics here. I could recommend a property manager or two and provide some other value depending on what you’re looking to do.

Cheers,

Alex

With the booming Reno market, I’m sorry to say you won’t find anything in that price range unless that’s what you’d use as a down payment. I’d be happy to discuss this market more if you’d like to connect.

Best of luck,

Alex

Welcome, James!

Do you have experience in home construction as well? Wondering if you’re planning to do your own flips.

@Mike Pond to the best of my knowledge, if the property is zoned single family, you may not have a second full kitchen. This is a problem I’ve run into when looking to purchase a “duplex” that was only zoned SF and had a non-permitted second kitchen. You aren’t able to have a second range/oven. You could get away with an electric hot plate, microwave, etc smaller appliances but that may be it.

I’m not a lawyer, so don’t take my word for it, but that’s been my experience in Reno.

@Mike Pond

Scott pretty much said it all. Don’t assume you’re going to be able to do that. Rezoning is very difficult and drawn-out in Reno if the land isn’t already zoned MF or surrounded by other properties zoned MF.

Please keep us updated on how that goes!

Alex

Hi David,

One of the groups I'm in just had a discussion on this. Kimberly Miguel over at Stewart Title gave the chat. I'll share her info with you via message.

Cheers,
Alex