All Forum Posts by: Frank H

Thanks for your post. I myself am looking for an investment opp. Either a rental or STR. I too had heard about the stringent rules against STR and the hotels wanting to ban STR (understandably so) Glad to see you have had success with STR. Would you mind sharing some of your experiences so far? the search process, so forth. What made you decide on Henderson as opposed to say, South Point or anywhere else? Thanks!

Frank

Quote from @Haris Becaj:

Hello everyone,

My name is Haris and I am new to this forum and community. A wealth of knowledge on here from what I've recently gathered and glad to be a part of it to collaborate or assist. I am a local mortgage broker and investor here in Las Vegas, NV.

Some local friends have brought up the stigma of Airbnb in Las Vegas and many of them think it is illegal. I've been running a legitimate Airbnb in Henderson for the last 6 months and it has been an educational experience, but fully legal and beneficial compared to traditional rentals. Henderson has some of the most strict short-term rental laws in the country, but once the arduous process is accomplished, the numbers are favorable. Las Vegas has also allowed Airbnb with certain laws and restrictions.

I am reaching out to any other locals to see how they have faired with the process and what their numbers are looking like. I am happy to share my experiences and numbers as well.

Thanks!

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Las Vegas, Nevada

@Deana Vasquez thanks for taking the time to share the breakdown. This looks like a great start to your investment journey

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@Heidi Rice hi Heidi - will you keep me posted on your findings on Monday? Feel free to DM me. Thanks

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Henderson, Nevada

Wow a lot of great feedback and speculation. Still I am left with the question of: what’s next? Are these higher prices the new norm, and I should just accept it and buy a property if I can? Or will prices eventually fall, in which case I should wait a bit? What would you suggest a newbie to do in this current market?

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Las Vegas, Nevada

@Luke Trovinger hey Luke - thanks for the reply. Perhaps I should have specified. I do currently own a SFH and am looking to get an investment property. Just not sure if Vegas is the market for this any more? Should I be looking elsewhere?

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Hi all - newbie investor looking to buy my first investment. I only have about $40k to spare and looking at the recent market prices, it is pretty discouraging. I’m currently in Las Vegas but open to other markets. Anyone have suggestions or advise on where to look or get started?

Thanks a bunch!

Frank

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@Jonathan Roldan hi Jonathan do you mind sharing which lenders have been responsive to your inquiries? Can always use a referal. Also where are you finding these SFH with casitas?

Thanks

Frank

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@Guifre Mora so weird that RE price hasn’t been affected so far, even though a recession seem to be looming ? What with so many industries being impacted and all. Will the market downturn be later in the year?

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Orange County, California

@Morris Cohen hi Morris thanks for your input. Do you happen to know what terms and conditions the HELOC lenders are looking for? We have about $130k equity in our primary residence and thinking about taking HELOC for investment property. However we just started a business and so far have not been paying ourselves.

Thanks

Frank

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Thanks everyone for all your inputs on this. Does anyone have any insights on terms and conditions for getting approved for heloc? We have about $130k equity in our primary residence but both my wife and I just started a new business and have not been paying ourselves yet. I’m guessing lenders will look at income? If so is there any other way to fulfill that condition?

Thanks everyone!

Frank

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All Forum Posts by: Frank H

Frank H has started 3 posts and replied 24 times.

Post: Las Vegas Airbnb Hosts

Post: New Girl Looking to Invest, but where?!

Post: Looking for SFH in Henderson NV for investment

Post: What in the world is going on with Vegas house prices?

Post: Newbie investor looking to start

Post: Newbie investor looking to start

Post: First rental property in Las Vegas

Post: What does everyone think of the current market?

Post: Heloc or cash out refinance for investment property?

Post: Heloc on Heloc on Heloc forever?