All Forum Posts by: Dan Mumm

@Account Closed except for the fact that the no revenue is not permanent... 

Agreed with both @Phillip Dwyer and @Eric Fernwood, I actually had multiple deals fall apart at the end of last week due to stock market concerns and the economy in general, but they were/will be put back together quickly and I still have tons of activity on listings, receiving multiple offers on most within days. Entry level buyers see completely unfazed. The real test, as others have mentioned, will be to see what happens in 1-2 months and the effect of the layoffs/cancellations.

@Neil Henderson City of LV

Vegas has an extremely robust rental market. Gigantic tenant pool, average SFR's here rent in 1-2 weeks and typically get applications coming in within days. There's a lot of strong economic factors, no state income tax, influx of California residents, great weather, relatively new construction of homes, no snow/landscaping cleanup really necessary, don't have to deal with termite damage.

@Nick Cikity thanks for the recommendation! @Casey Johns, looks like there are some other great agents here but I'm an investor-friendly Vegas Realtor if you need help. 

Lol!! Bill never disappoints.

I have a condo listing coming up which is in an association which allows AirBNB if you are interested. Otherwise, I agree with the sentiments of the other posts. It's not the best long term strategy here. 

Great idea @Robert Adams, thank you.

Hi all,

I have a listing coming up in an HOA that appears to allow short term rentals.

The owner states it is one of only 6 associations in the valley which allow STR. I have no idea how accurate this is.

Does anyone have more experience or clarity with this? It will be helpful for me to explain to potential customers. I expect most of the interested buyers/the ones who will see the most value to be STR investors. Every association I have experience with has disallowed STR's, but I have heard before that there are a few which allow it. Does anyone know which they might be?

I'm not talking about highrises/condo-tels, just traditional condos/townhomes/SFR's (this listing is a traditional condo).

@Kacee Bui Yes, garages are definitely more desirable than carports. With regard to single family homes, carports are more commonly seen in older homes (1970's and older). Most townhomes have garages here. Most condos do not have garages and only use covered parking. There are some exceptions to this in which case they add substantial value. Garages are very important in Vegas due to the heat, generally high crime rates and the associated and issues with parking outside. Consumer see a lot of value to a garage (attached or detached).

New Henderson = more expensive, premium A/A+ locations, low crime rates, low turnover, better tenant profile. The tradeoff for this is lower returns.

Old Henderson = older construction, higher crime areas, more tenant turnover, lower quality tenant. Higher returns.

If you can tolerate low/close to zero cashflow (I'd never recommend negative), I would definitely opt for "newer" parts of Henderson. I would aim for 1990 and newer in your particular situation. If you really don't care about cashflow, you might as well buy the most premium location possible. Inspirada, Macdonald Highlands, Anthem, Green Valley Ranch to name a few.

Please let me know if you need more guidance. I live, work, and invest in Henderson, know it like the back of my hand.