All Forum Posts by: Chancy Hu

@Jeff Hall@Stephen Haynes Thank you

@Phillip Dwyer I know one of them is in Summerlin South. Any recommendation there?

Hello, 

Any recommendation on property management in Las Vegas? It's for a few single family houses. The owner doesn't have time to manage anymore.

Thanks

@Anthony Angotti @Michael Bertsch

Thank you for the input. The cash flow is indeed negative for the second one, though very close to 0 CF. I will suggest him to either sell it or refinance it.

A good friend just  inherited two rental properties and is asking me if he should keep them for rent or sell them. I haven't done any rental myself, so would like to ask BP. 

The first one has $1,150 income (all numbers are monthly), $130 property tax and insurance, $586 mortgage payment (for current month it's $278 principle, $308 interest). Mortgage principal balance is 92,477. Market value is about 178,000.   

The second one has $1,500 income (all numbers are monthly), $171 property tax and insurance, $911 mortgage payment ($502 principle, $409 interest). Mortgage principal balance is 144,864. Zestimate is about 246,500. It's in a nice area where has more potential for appreciation. Current tenant is willing to buy it for 255K. 

I would recommend him to sell the second one. My calculation shows a negative cash flow, but I'm not confident with my calculation. Any advice? Would a refinance lower the monthly cash out flow make a difference?

Thank you!!!

Thanks everyone for the welcome!

Hi all, I'm new to BP. Always interested in real estate, I started my journey last year and bought my own residence. Now, I'm really learning and aim to have my first rental property this year. All connections and references welcome, especially in Houston, Humble, Las Vegas, New Orleans and surrounding areas.