All Forum Posts by: Bill B.

@sierra crisp

Brian Hartsell at key property management has been good to me for the 10 properties they’ve managed for me over the last 10 years. I think once I had a week vacancy. I don’t think we’ve met in person since the day I hired him and talked over the phone maybe 3 times (emergency damage). Everything else has been handled by email and his staff. Zero drama, zero hassle. Does take until about the 10th to get your money. 

At least talk to him. Tell him bill brandt sent you. I don’t get anything out of it but at least he might know I appreciate his service. 

Multi is on fire in Vegas. $250 million in deals closed in last 11 days. $3billion last year. (today’s newspaper)

Small multi is probably cheap and will cash flow compared to so cal. Talk to @Terry Lao about fourplexes if that’s your idea. 

I just looked at a 32 unit for $2.3mil at a 5 cap. It went under contract instantly. 

Prices are up 14% over last year. (vegas and Seattle usually swap back and forth, but San Jose was #1 this month.)

instead of a spreadsheet? If it’s only internal it’s not currency. It’s like I labeled marbles with the owners names and called it crypto currency so I would be hip and cool. 

Isn’t the whole idea behind crypto to have total anonymity? Why else do it? So someone else can skim a profit off you? And if it is, I sure as heck don’t want them in one of my buildings. 

Make sure uhh can afford it and want it without the Airbnb income. While some people are making it work it's illegal in much of the valley and limited to 1 every 600' in the rest and/or a minimum 30 day rental. (That means even in a high-rise condo there might be only 1 allowed. The guy/gal that got there first.) if your HOA allows it (vegas is probably 80% HOA.).

The city and county have employees that check the websites to make sure that each property is legally licensed and allowed.  Google lady fined $72,000 for Las Vegas Airbnb. 

I don’t know if your realtor is breaking any laws, or codes of conduct, but this....

“He also told me that if he finds a really good deal he's going to buy it himself instead of letting me see it.“

Is not a good sign. Why would he go out of his way to say he’s going to screw you? 

Maybe ask his broker if that’s how he runs his business, and all his realtors screw their customers over, or just this one?

Fully electric cars are still only 1-2% of the car market. Short of the government pushing really hard to ban hybrids and efficient gas engines I think they’ll have a hard time exceeding 5-10%. 

I bought a Chevy volt 18 months ago for $22k net after rebates and tax incentives. I’ve had to put 10 gallons in it so far but that’s because I drove to California to save a few thousand buying it.  Yes, living in the small Las Vegas valley as opposed to my in laws farm country in the Midwest helps a lot too. 

I woulda/coulda bougth a 2 year old Nissan Leaf for $10k but the wife wanted the gas engine to fight her range anxiety. 

It really does come down to what you can live on. I retired at 39 and I didn’t really start until I was 35. I bought one rental per yeat worth about $110-$130k with 25% down every other year as a straight rental and 10% down the other year as a primary and then moved. That means I needed about $20-$25k per year for purchases. I never made more than $60k but I lived on $30k and made it happen. 

5 years later the rentals were producing $50k per year and I quit working. I still bought 1-2 houses per year and stopped at 13 with about $120k/year in income. I could have become bigger but the return to my lifestyle with more money was less and less. I still put in 3-4 hours per month dealing with the rentals but I ca put them in from the beach, a cruise ship, or wherever. 

Now I’m just paying them off with the spare cash flow. Within 3-4 years I expect them to all be paid off, worth about $3 million and producing about $200k per year in income. 

The market today isn’t as friendly to you as it was to me, but if it takes you twice as long, that’s still only 10 years. Plus I did it pre-bigger pockets and all the free awesome help you can get these days. And I didn’t try hard cause I liked my job. 

Ps. If you're single you might sell that SFR and try house hacking a local fourplex, I have a couple friends that started that way as it was easier to qualify and expand.

Cool, I did not know that. They constantly change in Las Vegas and Minnesota. And by constantly change I mean constantly from allowing to not allowing. NEVER from not allowing to allowing. 

Kinda sucks if good deals are “1 in 2000 available properties” and there are only 3600 available properties in Vegas. Once someone buys that one property they’ll all be gone. I know, those 3600 will turn over in a month or two, but that still means 1-2 good deals in the entire valley per month. Hope you’re not buying them. :-)

Ps. I don’t think many people really care about the price of electricity, but if they do. You accidentally put 8 cents for Nevada power. It did drop to 11cents (plus misc fees, effectively 12 cents) here in Vegas a few years ago but I don’t think it’s ever been 8. 

Thanks for the info. I Just wanted to help you make it more convincing for the guy/gal who’s still on the fence, you don’t need to convince me.