All Forum Posts by: Bill B.

Amen @Aaron Hunt

Come on guys, wth!

You can’t cash flow in Vegas? So every investment property sold is as a loss, to an idiot? Or do you mean you don’t want to work hard enough to find a good deal? One of the worst markets for cash flow? If you eliminate how many entire states? 

Stop pushing Vegas on people? SHE LIVES IN VEGAS!!!  Should her first investment be out of state where she doesn’t know the market or anyone? Should she leave the state and house hack somewhere else because it might be 5% better so she can pay income tax?

Some people actually log on to help other people AFTER reading their question. It sure seems other people log on to say 1) You’re screwed 2) I don’t have a good answer but that other person is sure wrong 3) I didn’t read your question or I’m going to ignore it so I can saw the same thing i say in every post. 

If you aren’t trying to help please just don’t post anything. Otherwise lead with the help.

Don’t let them discourage you Kristin, either they are already investing in your home city and trying to keep you out, or they aren’t and they’re just repeating stories they’ve been told.  Or maybe they want to push some other location on you. Even after you succeed people will keep saying it can’t be done. 

@Kristin Davey

Hey Kristin, any chance you have any friends/relatives/co-workers you wouldn’t mind living with? I started years and years ago by having 2 friends and a co-worker live in a big house I bought and paying me more rent than my payment and 3/4ths of the utilities.  Eventually I moved out and got a fourth renter. 

In the Midwest or a place with nicer 4plexes in nicer neighborhoods or if ou can get lucky in Vegas the other alternative would be to get an owner occupied loan on a fourplex and live in 1/4th for at least a year.

Ps. Welcome. 

congrats @John Perry

1) do you have any interest in building new fourplexes in the Lv valley? That’s what I’ve been looking for as my next step. 

2) have you done any research into the newly identified “opportunity zones” in the valley that offer zero capital gains tax on real estate investments in them, including past unrealized gains exchanged in to them.  that looks interesting me if I exchanged in to a new build fourplex. 

@Martin L. I wonder if I could sell you one of my rental properties in an O zone and use the money to reinvest myself in the same zone. I’m still considering trying to build a new fourplex here. I have a few properties that’s I’d love to capture appreciation out of tax free.

Look me up next time you’re in town and we can talk over some comfort food. 

where are the two llc’s based and what states do they operate in?

As mentioned if you can move your llc’s business to Nevada you’ll save income tx,  I’d rate it much more business friendly and better weather than New York. California could win the weather and lose the business friendly battle or lose both based on what city in particular you’re looking at. I wouldn’t let the $1600 llc fee sway you but it would bother me as an added on screw you tax. 

Nevada also supports series llc’s so you might be able to clean up some of your bookkeeping here. 

interesting add on @Martin L. I had never seen the requirements for a “qualified opportunity fund” before. 

I was assuming I could just buy a building in the zone as there were several new zones created here in Vegas. 

Where are you located and have you identified any O zones there?

@Garan Kama

There may be an advantage to an "investor's realtor" but I've used a guy I get along with that doesn't understand investing. He's willing to put in any number of offers at my price and knows the unique things I ask for that buyers will pay for in Vegas. (HOA xfer fees, HOA capital contributions, appraisals, and a few other simple checkboxes.) I told him set up a filter for 1800sf+ house, 20 years or newer, 2+ garage 3+ bed 2+ bath. That really narrows down our small market fast.

I invest exclusively north of 95, west of 15. All but a couple are south of 215 and only one is west of 95. 

Northeast is “rougher”, east is older. Southwest has almost all been built in the last few years. New to me. 

It’s definitely gotten tougher. You may want to check out a list of DOM over 90 days as anything decent should have sold or at least gotten an offer in 30 days or less. Maybe they just priced it too high, could just be dirty dark and smelly. 

Let me know if you come to town sometime and want to talk real estate over a pizza or BBQ ribs. 

@Garan Kama

Hey Garan,

Vegas has better weather,  no frozen pipes or tornados. 

Vegas doesn’t have income tax that the Midwest has. 

Vegas has $10 BILLION in expansion over the next two years not counting the raiders or the Knights. 

It’s not comparable to the super low end some people push in some parts of the Midwest but who wants to buy a $7500 roof or $2000 worth of appliances for a $50,000 house when they would work for a $150,000 house.  Plus we don’t do shingles. A 25 year old roof looks like an 8 year old Midwest roof. 

Plus you can visit us by car or plane for under $200 for the weekend. 

Good luck no matter what you choose. 

To anyone considering Airbnb in Vegas. You pretty much have to avoid condos. They REALLY hate Airbnb in Las Vegas. You have to get licensed where they allow it (which is not everywhere.) . And where they allow it there can only be one every 600 feet. That means we have entire condo towers with one legal air bnb. Google “lady fined $72,000 for Vegas Airbnb” for reference.