All Forum Posts by: Brad Bellstedt

@Denzel Domingo That depends on the type of contract the seller has with the agent. One type of contract allows for the seller to find their own buyer and not have to pay a commission. The other, does not allow for that even if the contract is cancelled for up to a specific period that is outlined in the contract. Either way, the seller likely doesn't know the intricacies of seller real estate and should just pay the agent to represent him. Going solo, especially against a buyer who knows what they are doing can be more costly than the commission anyhow. 

For those of you using Follow Up Boss, what kind of website are you using? Are you happy with the integration from your website to your CRM? It looks enticing but I'm hesitant to move away from my all-in-one CRM that includes a website. 

There is a file storage place here in BP somewhere. I'm not exactly sure how to get there but I believe it's BiggerPockets.com/files or something close to that. 

House-hack. Buy yourself something you can live with for the next 5-10 years and can afford on your own if you need to and then rent out a couple of rooms. The money you are making (or saving, depending on how you look at it) could be used for you next down payment. 

The ideal situation would be to pick up a duplex, rent out the other side, and rent out the other room(s) on your side. You could probably live for free in this situation and just keep on banking that money. 

As for the school loans, you should keep paying and I would pay more than the minimum myself BUT if the interest rate is low enough that you could do something else with that money that has a higher ROI than the interest rate on your loans, do that other thing and make minimum payments. If you're looking at high interest rates on your school loans (7%+) I would focus those funds towards paying down that debt more readily than if it's a lower interest rate like a 4% loan.

I should clarify that's in Nevada. I'm not completely familiar with the intricacies of other markets but I believe it's the same nationwide. 

The title company (and only the title company) should ever hold the EMD. If an agent/seller, or anyone else insists you give them your deposit, it's probably best if you just walk away.

I collect this information weekly for myself. I can say with 100% certainty those numbers are not correct/have been skewed in some way. Do you have a house to sell? This agent may be trying to panic sell you. 

Hello BP!

I am scouting some land to build a new multifamily structure on for an investor friend of mine and I'm a little confused by the zoning descriptions I am seeing on Loopnet and Crexi. I know for this type of structure I am looking for will require an R-2 or R-3 zoning but I am seeing listings on these websites that will show that the land is zoned for commercial use and then will list some potential uses that include multifamily housing. 

So my question is, what is the exact zoning I am looking for? Only R-2/R-3 or should I be looking at commercially zoned properties? Also, if it is commercially zoned and DOES allow for multifamily, how would I know? I've read through many of the documents available on the Clark County websites but it's not the easiest to read/comprehend. Any advice would be greatly appreciated. 

Thank you!

Hey Josh!

Although the market here in Vegas is very strong and continues to increase in value, it may not be the best place for getting large ROI on buy and hold properties. I've heard for years the midwest is better for that because the homes are less expensive and the rents are enough to satisfy a higher ROI that what you will generally find here in Vegas. The multi market is pretty slim Pickens here so for the most part we're seeing SFR rentals taking most of the investment dollars. (aside from large 100+ complexes) The BRRRR strategy seems to be the crowd favorite and that's mostly due to the ability to buy at a discount. Of course, that means the property will need some fixing up but if it didn't, the seller could put it out on our very strong seller's market and get full value offers relatively quickly. I'd be happy to answer anymore questions you have in detail so feel free to DM me.

I think we have a shortage of 4plexes in general relative to other cities. Do you know how many 4plexes we have (not on the market, in general) when compared to the overall housing stock? (SFR, other multis, condo/apartment complexes, high-rise, townhomes, manufactured, etc.) I don't know the answer but I would bet Las Vegas in general is has a low stock of 4plexes relative to other cities of our size. I believe they've pretty much stopped building these over 20 year ago aren't building any more.