All Forum Posts by: Bradley Buxton

@Jen Carlile

I live in Incline Village full-time and can show you the data and analytics of investment properties for either a long-term or short-term strategy. 

There are some mostly "hands-off" strategies and programs for long-term renters now that could be an option.  There are a few asset classes condo vs single family homes that would work to get you access to the Incline amenities. 

@Amir Twig

The long-term buy and hold. Real estate provides consistent returns and the ability to leverage appreciation with a tangible asset you have some control to increase the value. The faster people try to make money in real estate the higher risk. With higher interest rates there is an opportunity to get great deals on market properties because people that list need to sell for a reason. Nothing fancy, no tricks, loopholes or gurus. Just buy a property that will appreciate, hold on to it.  

@Roxanne Rose

Why do you think it's a bad investment? Insurance costs will continue to rise in most Western markets. There is some missing information to determine if it's a bad investment.  What are your current rents, market rents, and overall rental market demand? Purchase price and potential sale price. Can you raise rent?  Find a good agent that can connect you with other investors. Our brokerage here in Reno has a specific program to connect investors with turn key stabilized rental properties. Maybe there is something like that in your area. Meetups are a good place to find other investors.

@Ivette Raygoza

The "right" market is the one that will fit your goals, budget, time, and lifestyle. There are many great markets which you can be successful. Maybe start with markets that will not work. For example, if traveling to the Ohio for 3 days to check on properties is not feasible then pick a market in western America. If your goal is to have a short-term rental to offset W2 income a more tourist-driven market might be better than a high population growth area. Some people don't buy in places they won't live. It is good to look at the data such as appreciation, population, and diverse industries in an economy. It might help to eliminate markets where you won't invest. Then narrow your search to areas in those cities.

@Samuel M.

A townhome generally has an HOA, a smaller yard, and possibly a shared wall. This can be a good choice if you do not want yard maintenance and the benefits that come with an HOA, such as a pool, insurance, and building maintenance. You also get the downsides of the HOA rules with restrictions on what you can do such as short-term rentals. Neighbors can be lame anywhere. Single family or detached homes you are in control and pay for everything. There are tradeoffs to either and both can be successful rentals.

@Lee Lance Leoncio

There are still BRRRR deals it takes more money and more effort to find them. The hunt-and-peck method is time-consuming. The successful in my market in Reno Tahoe are buying higher-end and always ready to buy when an opportunity arises. Many other people competing in that space for easy projects at below-market prices where the numbers make sense. The high interest rates make it harder to do a quick BRRRR and you may have to hold a bit longer. Your market will vary from others based on various factors like demand, inventory, and distress in the market.

@Phillip Wong

I work with many investor clients and have some references for CPAs who specialize in working with real estate investors. They are based in Reno, NV, and have many CA resident clients. I'll send you a PM.  

@Adam Watanabe

Converting a garage is not the best idea for the exit of a property. Many people still want garages for primary residences. By having a garage converted, you limit the value of the home and the buyer pool to investors. At 120k/2k that is 60 months or 5 years on the return. @Dan H. has some good insights on ADU conversions.
Generally, it would be better to put the $120k towards the down payment of another property so you can gain the equity even if the cashflow is breakeven. 

@Craig Jones

Do you think this will make residents reconsider the status quo of not really having any STRs the last few years? What has been the negative economic impact?  With the demographic change up at the lake over COVID, there might be a renewed call to ban all STRs outright. 

@Mark Driskell the way the law was written was the issue, not the ban itself, had they banned STRs outright then it might have been upheld. It will be a cautionary event for other towns on how to write a ban. 

@Andrew Steffens I live on the north side of Lake Tahoe and it will likely not have much of an impact because of the different activities that bring people to the Lake. It would be interesting to know if there are shortages of short term housing. It could have an effect on Stateline in Douglas county because they have fairly tight restrictions on STRs if there in an increase in inventory from the city of SLT.  I'm sure on busy weekend but the hotels have many rooms that are available. 

@Shaun Ortiz 

Good question to round up everyone selling in their market. Short answer is the market you start investing in thoughtfully with a strategy. Everyone's situation is different and those differences will determine which market will be most successful. If you love the Midwest, then Columbus is a great market. My choice is Reno, NV because I live in Tahoe, it's close to CA, low property taxes, landlord friendly, and no state income tax. I'm not sure it's for everyone but there is plenty of opportunity for success. You can find success in any market with the right strategy.