All Forum Posts by: Bill B.

Looks like Las Vegas will finally follow Clark county and ban Airbnb. Only 161 legal air bnb locations in Las Vegas currently. 

https://www.reviewjournal.com/news/politics-and-government/las-vegas/las-vegas-city-council-may-ban-all-future-short-term-rentals/?utm_source=listrak&utm_medium=morningheadlines&utm_term=Las%20Vegas%20City%20Council%20may%20ban%20all%20future%20short-term%20rentals%20-%20title&utm_campaign=Your%20Morning%20News

There is a wide range. In Vegas I pay $300 fee to management company that they pay to the realtor (usually themselves) and then 8% that’s it. To me their value is in chasing down late rent and collecting late fees as well as being willing to post notices and arrange for repairs  

In Minnesota I paid a full month for placement, but then just $89/mo on $2700 in rent. (About 3.3%?) and I still cancelled them a year after placement as they were just getting in the way and holding my money until the 10th for deposit. 90% of the value on the higher end rentals was placement. In the 2 years since cancelling he’s called me once for a new microwave and I’ve gotten ACH deposits on the 1st. After the high end microwave delivered and installed I’m $1500 to the good. 

Las Vegas prices continue to increase at nation’s highest rate after lagging behind Seattle for 10 months. 

Las Vegas rents continue to increase at second highest rate in the country behind Orlando. 

As long as California and New York/the east coast continue to increase taxes and regulations we should be good. Texas joins Florida as some of our biggest threats even if I can’t tolerate Florida’s humidity. 

We are running out of land to build on, tear downs of older homes on a large scale will be a new experience for Las Vegas if it starts to happen. I don’t know if it will require a builder to change an entire neighborhood or if new homes will just eat at the edges of the older neighborhoods as most people building new homes wouldn’t want to live or build there. 

Thanks everyone for all the useful info. 

Nice. You can blow up your whole 401k with the blessing of a lawyer and your CPA. Does it just become instantly 100% taxable like a withdrawal or is it worse? (Penalties and such.)

If someone can vouch for Houston being a good renters market, start there. If you can get a steal of a deal in Vegas from family, start there. 

I live in Vegas where I have 12 rentals, I haven't seen the since of any of them in 10 years, I might have seen the outside of 2-4 of them. (Barring HOA complaints.).

The management company takes cares of everything. If you need a reference try Brian Hartsell @ key properties. I don’t work for them or get a commission. Just a happy customer. 

@Wayne Brooks

GOOD QUESTION!

@Dave Foster

@Karen Seale

Karen, did you identify exactly 5 for your 1031? if you identified 5 properties (or any number more than 3) did you follow the other specific rules for the 1031 exchange in situations where you identify more than 3? I included Dave as he can simply tells us the answer as opposed to me guessing. 

Dave does that come in to play as well? Identifying more than 3 and not buying them all?

I looked in to it a couple years ago after using one my first and only time. There’s one true association website you want to go to and make sure you get the add on needed for financial/contracts. The guy I used said there’s good money in it s long as you’re available every time you to do a job. (Like appraisals it was randomly assigned to people that have a history of being available.)

In Las. Vegas granite can be very cheap. Less than a couple hundred per 8’ section. Average house cost me less than a couple grand including demo and installation. I’ve heard about it being fragile or needing sealing but after 10 years I’ve had zero problems with zero maintenance. Plus a good granite guy can work magic on slabs. (On houses I bought with granite countertops. )