All Forum Posts by: Brandon Carriere

@Alton Williams

I have a handful of $50-80k multi's and 2 of the 30k single family variety.. Been great so far.. So I'm indeed part of the 30k club.. Luckily and strategically, my 2 30k SFR were purchased already both vinyl sided and both steel roofed.. Everyone always says a 30k house roof and a 200k house roof are the same cost to replace blah blah, which is true.. Likely never having to replace the steel roof is the equalizer for me.. I'd buy them til the cows come home if there were more opportunities like that.. A traditional shingle would give me pause as that rains on the parade a bit, pun intended

@Angel Flores

No, I do all my rentals etc OOS (upper midwest)  

With zero cash flow here in Vegas now, and with what I'm trying to accomplish, I cant justify tying up cash here hoping for appreciation someday..  Id prob participate in some joint flip venture with someone who has a well oiled machine already in place and just needs a partner, but Im too busy with helping clients buy/sell that I don't have the time to go and grind for deals locally..  Im about to take a listing that really has me tempted to buy myself, but Id rather take the sure thing and add to my portfolio and cash flow and increase the snowball effect 

Welcome, 

I'm an agent here in Vegas as well..  These numbers and answers will be all over the board..  Everybody and their brother are here in town trying to do the same thing..  Margins are sooo slim, that even the better deals have to run perfectly just to make a razor thin slice of the pie..  On top of that, the market is peaking, so less natural gifted appreciation will occur, so the purchase price and value add will be even more critical..  Properties are tough to find unless you put in the intense labor of finding them yourself..  The big guys seem to be everywhere else

My first 2 I bought back in Wisconsin were the $30k variety..  They've been some of my most solid performers..  Wish I could buy more but they're so rare to find

@Account Closed

Thats simple, youre correct, there are no class "B" areas in Vegas where the current numbers will be better than these examples shown..  And these examples are the BEST current examples in this price point in the Vegas Valley..

In my class A neighborhood, houses sell for $500-600k and rent for $1900-2900..  These are more common numbers to expect in many of the better areas

@Account Closed

Thanks..  My friend just got his offer accepted on his 2nd condo in Pirates Cove..  This one is in 7100 Pirates Cove, which is the only gated neighborhood of the 3 Pirates Cove neighborhoods..  

And my brother lives in Pirates Cove, so yes, I know a bit about it..   :-)

I've helped investors buy properties of all kinds here in Vegas and Henderson over the last 9 years..  

@Account Closed

Oh and 2451 Rainbow is 'C-' area at best..  However, I have friends that own at 7100-7300 Pirates Cove..  This would be a B- maybe C+ at absolute worst

@Account Closed

Curious what 140k condo you're looking at that rents for $1000?  I'm seeing some closer to 150k that rent for 950ish..  

@Bill B.

Im a bit confused by the wording of your post..  Are you suggesting there's 3/2 bath homes with laundry and a garage available for slightly more than $800/month?

If so, you'll need to get into your hot tub time machine to see those rents..  Theres nothing currently in the entire city with those criteria under $1175..  Those $1175-1250 with that criteria are in what would be D areas

@Robert Hsiao

@Account Closed

I have a couple clients/friends with similar condos nearby the location you mentioned..  Current purchase prices are in the mid $90k range, with rents from $800-850 or so..  And NO, that area is not a D neighborhood, not even close..  Id say that area is a solid B-..  There's a couple condo communities that are closer to C/D inside their respective community walls, but the general area is quite nice and safe..  

There's absolutely no reason to buy a $130-150k condo in a marginally better area, as the rents likely wont increase proportionally and there's essentially no difference in quality of tenants..