All Forum Posts by: Carson McFadden

@Hayden Sahnow I only manage my personal investment in Reno which is in a student housing community. I've owned it for about 9 years now and have had really great experiences with the home and the 4-5 different tenants I've rented to (minus one or two minor mishaps).

The majority of properties I manage on behalf of investors are in Carson City and Dayton, however, I have access to information regarding the Reno market and visit frequently. If you have any other questions feel free to reach out. 

Hi Sherwin, 

I can't give you specifics on the direct effect that Tesla has had on the housing market in Reno. I can tell you that I have been in contact with dozens of employees of Tesla's that are  interested in renting my rental properties even though they are located 30+ minutes away (driving) from the Tesla gigafactory. 

Northern Nevada is experiencing a major housing shortage, especially when it comes to SF homes available for rent. The market is doing well for sellers and landlords. A new stat just showed that Reno's Median sales price just hit $400,000! Also, everyday there are new articles coming out about how nearly 45%+ of residents living in California, specifically the Bay Area, want out and they have their eye on Northern Nevada because of the overall lower price of living plus it's absolutely beautiful here and you get to experience all four seasons! 

There are many desirable areas in Reno. South Reno is very nice and you can't go wrong purchasing a nice, updated home near the University and Community College. Have you looked into Carson City Real Estate? The travel time to Reno is about the same as traveling to Reno from Sparks. 

Hello all, 

I'm working on building a website for my residential property management business. My key focus right now is being able to target and capture interested investors seeking  property management services. 

Can anyone suggest a great P.M. company with a similar website? I'd like to get some ideas for my own page. 

Thank you from Carson City, NV. 

I also take credit into account when screening tenants, however, a high score does not always guarantee a high quality tenant.

I suggest creating a scoring system and using that for EVERY applicant. A strong scoring system that you use consistently can help you stay out of trouble if someone accuses you of discrimination.  

Example: credit over 700 = 5 points, 600+=3 pts under 600/no credit= 0 pts

Good landlord reference= 2 pts, bad landlord reference= -1 pts, no landlord reference=0 points and so on with income, personal references, etc...

If the tenant scores a 10+ they automatically are approved.

It will seem like an expensive month for your tenant because they will be paying $1,500 within 15 days, however, they have to keep in mind that they CAN NOT just have 1/2 a month for free because they want to change the rent due dates. 

Hi Arey, 

I would suggest doing exactly what you have proposed above. If your tenant wants to start paying on the 15th, he/she will have to pay the prorated rent from the 1st to the 14th and then can start paying monthly rent on the 15th to create the new rent pattern. 

I'm looking for the same. I'm thinking finding a duplex in the price range may have the best monthly return. @Garrett Diegel

Hey Scott, 

Have you considered purchasing a home near UNR and TMCC? I like real estate in North Reno because as long as the schools are there you are pretty much guaranteed to have students seeking housing that is close to the campuses. Good luck with your search! 

Hi Richard, 

I have a 2 bed/2 bath on Talus Way which is a mile away from both UNR and TMCC (location!) I'm currently renting that unit out for $1,300/month.. Following the market, I think it will be tough to get that 1% back in monthly rent, however, the market here continues to grow and it's better than throwing away money to another property owner. Good luck with your search if you have not already purchased!