All Forum Posts by: Bill B.

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. )

@mark wood

They can/should be able to Get a new mortgage against their current property for about $240k (about 80% of current appraised value.). That MAY put a crimp in getting another mortgage for their single story home if that will cost more than their current home. But that simply allows them to offer cash for their next house. Otherwise they might as well just get a new mortgage for their new single level home. 

They could also get a home equity loan (fixed rate, not a variable rate home equity line). For just enough to put 20% down on their new property  if they think they would qualify for the new mortgage with the home equity loan in place. 

Is their current $300k condo a good rental? (At least $2,000/mo rent plus any HOA fees?) if not they could just as easily sell the condo and buy the single level home and then go looking for a good rental. This would also be the preferred method if they paid less than $200k for the property as all those gains are tax free now but will be taxable after 2 years as a rental.

I LOVE LOVE LOVE all the useless posts Jehoha. Pretty much every single post is...

don’t invest there

that’s a bad idea. 

Hey that info doesn’t help the poster but I’m certainly not going to post any useful info...

Maybe you could spend a month trying to help people instead of as a “hit and run troll” see if it doesn’t make you feel better like you’re actually helping people. Or at least try just not posting at all for a month and see if the forums aren’t a better place. 

Always. Email or visit vegas. Burgers or pizza. 

yes. Sorry. I could have included the month over month numbers as well. 

Plus 1%, plus 0.5% and minus 28% month over month, respectively. 

Good numbers for a “slow month” with school starting in August, earlier in Nevada than many states. 

Las Vegas August numbers are out. Median sales prices up 17.5% year over year.  IMHO, a Better number, price per SF, (ignores a bunch of cheap or expensive houses being sold.) up 18.5% year over year. Days on market down 40%.

August numbers are out. Median sales prices up 17.5% yoy. IMHO, a Better number, price per sf, up 18.5% yoy. Days on market down 40%. 

@Terry Lao

Hey terry, thought subway was a wired exampl from you? Are they still building new ones in California? We’re actually seeing them close up here in Vegas. Sometimes I think it’s becuase people are eating elsewhere (even another close subway.) sometimes the whole mall is empty except that last coupe, hold outs.  Maybe you can pick up an existing one cheap that an owner is tired of?

Still gotta be brave. Unless things have changed, when we opened computer renaissance stores we were personally on the hook for the lease even as a franchisee. @$7500/mo that was a risk I wouldn’t take again. I’d rather own the mall. The restaurant business seem so fickle. 

If I was forced to own/start a business I would think of some kind of truck based business. Plumber, AC/furnace, electrician, pool guy?

I’ll give you my “million $ idea” I came up with 20 years ago and still haven’t put in to practice. Buy a mall, even a small mall, and subdivide each store and sell the stores to the shop owners. Run it like an Hoa with a Managment service. You can sell it to them as...It will be cheaper for them than rent and if they ever close up they have something of value. We closed stores after 15 years and paid to turn them back in to vanilla shells. $1.3million in rent could have been payments towards a store front, something to rent out or sell. 

Figure out how much they would have to raise the monthly fee to go from negative cash flow to positive cash flow and then to be safe I would double that amount and assume the Hoa fee will go up that month. 

If current Hoa fee plus double the increase monthly Hoa fee is a number you can live with, go for it. Remember that Hoa is is for the rest of your ownership and part of any sale to a future buyer. Almost worse than taxes.