All Forum Posts by: Casey Powers

@Frances Erving it seems much more likely that you have a water leak somewhere and it coincidentally happened around the time the city installed updated sewer equipment. Best to get a plumber to do leak detection.

Any additional occupant must submit a rental application and pass background check before being approved. That means they pay the application fee. Even if the original tenant is awesome, we still need to know the incoming person and they still must pass screening before approval. 

Then they are added to the lease like everyone else and there is no extra fee for that. 

If a tenant moves someone in without adding them to the lease, that is a lease violation and grounds for eviction or non-renewal of rental agreement. 

Few years ago there was a legal ruling for California residents who owned companies in Nevada. Said they must be able to prove that they did all of the work and even company meetings actually in Nevada and not remotely in California, in order to qualify for not paying CA state income tax. I don’t remember the name on that ruling.

But consult a tax professional and don’t take my non-tax-pro word for these things. 

You can file a complaint with the real estate division AND you can file an ethics complaint with LVR (realtor association). If I were in your shoes, I would do both. 
I’m on the Grievance Committee where ethics complaints are initially heard. I can tell you that the best way to file any complaint is to gather your documents and write a clear, concise timeline. Don’t get too caught up with emotional explanations; stick to the facts and dated timeline. Include copies of your documents - signed agent contract between you and your broker, the RPA showing you as the agent, the HUD1 settlement statement showing commission amount paid to your brokerage, Buyer Brokerage Agreement if you had one, and any other document that might help show what you should’ve been paid by your broker. 

I am a dedicated, full time single family property manager with a good track record. I am also a landlord myself.

You don’t get homeowner insurance for rentals. You get a landlord policy. NREIG is the best rental property insurer in my opinion.

Inventory is extremely low in Las Vegas. Anything off market gets gobbled up by one of the MANY hungry cash buying investors who are begging for properties.

Wholesalers here have cash buyers begging them for properties all day everyday.

Yes it is a back door co-signer situation. Deal with that as you feel most appropriate.

Hedge against inflation is what I was talking about in my comment above. The value of a dollar always decreases over time. In simple terms it means a dollar can buy less in future than it can now. So putting your money to work for you sooner rather than later, is generally more profitable in the longer term. It also means that using cheap mortgages to buy real estate now, costs less over the long term because the dollars you use to pay for that mortgage get cheaper over the years. While at the same time, your rent values continue to increase, making your profit increase over time.

Leverage makes your money work harder for you, instead of you having to work harder for your money.

Plenty of threads on this subject. Search function is your friend 😁