All Forum Posts by: Bill B.

Imagine you were 2nd oldest and one of your siblings was put in charge instead. And they were big on bitcoin investing. They were sure they could make money putting your dad’s $400k in to bitcoin. Your real estate is to them as someone else’s bitcoin would be to me. you’d love every check you got until you found out through no fault of your sibling it was suddenly worth $200k. 

Real estate is a black box to most people who aren’t involved in it. I would never want to invest more than my portion of the future inheritance in a real estate deal. There’s just not enough extra upside in it. 

Don't forget it has to be your primary residence or no solar rebate for you. And stay away from the solar contracts where any buyers would have to qualify for that contract and it would be added to buyer's DTI ratio Possibly killing the sale.

Ps  the seller being willing to pay the extra doesn’t mean anything of the appraisal isnt willing to assign that value  so you get to eat the difference  

You’re probably better off just giving them the info. 

Anything that isn’t stainless gets replaced, not even looked at. I use RC Wiley in Vegas for appliances. You pay $65 once per year for unlimited deliveries and installs. Like Johann, I would have zero opportunity cost of doing it myself, but if it’s a good year and I only do 5 appliances a year it’s an average of $13/delivery and install. 

I just can’t see saving enough money finding a good used one versus spending 5 minutes on a $300 new one where I clicked on a website and like magic it was installed the next day. 

I my wife is an RN in Vegas and we’ve never had choose FT/PT/per Diem. Just annual income and paystubs supporting that. (She works 3x12’s so 36 hours/week. Technically part time.) it’s nevr been an issue. 

If their main issue is the less than 12 months I’d say you have two choices. If she’s worked a lot this year wait until the end of December an apply with s good yearly income. If she didn’t work much this year wait until February 2019 while having her work as many hours as possible in January and February. And then apply with a February paystub. 

We acquired 10 loans on 2 primary’s and 8 rentals with just her job after I got out of the retail computer business and was “unemployed”. 

Is there anyone out there that thins catching tax cheats is bad? People who can advertise a cheaper price and take away rentals from those who do pay taxes?

In Vegas they have employees that just search the STR websites and compare to permits. They could certainly search the websites Hawaii rentals and compare next year to tax returns.

I would offer future tennats 11 or 23 month lease. I was going to say maybe even 11 and 21 month option to give yourself some wiggle room. But I changed my opinion. I hate vacancy and turnover. If you think 11 months will crush you at non-renewal, go straight to the 22 or 23 month lease depending on when you want it come empty. I don’t want a tenant that knows they don’t want to stay more than a year. At renewal I offer 2 years at market minus $25-50/mo and 1 year at market. MTM is market plus $50/mo. 

Imagine an income statement with 1 tenant for 4 years versus 4 x 1 year Tennants and you’ll figure how far ahead you’d be with 1 solid tenant. (Commissions, advertising, vacancy, make ready, utilities, etc, etc...)

The sky high Hoa fees are probably crushing your condo Larry they were meant for STR and Vegas doesn't like STR. That and the fact it's probably quadrupled in the last 7-8 years.

I remember buying condos that used to be $1 million for low $200k's. Problem was the Hoa fee was often still $15k per year. Easier to swallow a 1.5% per year Hoa fee than 7.5%. The one percent rule didn't mean much back then when the HOA fee was over 1/2% per month. I remember the MGM sales people saying that got you "access to everything the casino below has to offer..." so like the ame access as a homeless person? My favorite was the panorama towers guy selling the view of the topless pool across the highway. :-).

If I had the power to disband every Hoa that my houses are in I’d get rid of 90%. Certainly everyone without a gate. 

Same. My guy is landscaping company by weekday and independent contractor weeknights and weekends. 

I usually avoid the ongoing maintenance as most people want $100/mo to come 4 times per month while most properties need someone every couple months. 

Small tree replacement might cost $150-$200 all done. Everything else is minor. Maybe even thrown in with the tree work. 

My property manager requires pool service I pay for so it’s “rolled” in to rent in my 2 vegas properties with pools. I don’t think I would go out of my way to buy a pool house but often a house with a pool is the same price as a house without. For people without dogs it adds a purpose to the yard. (We have a pool in our primary only becuase without dogs or kids, rocks or grass both seemed like a waste.)

It doesn’t seem to affect insurance quotes at least here. I have a $3million umbrella for the liability but it covers all properties obviously. Long long story short, I wouldn’t pay extra for a pool property but I also wouldn’t avoid a house with a pool.

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