All Forum Posts by: Hector Martinez

@Noam Ofan

For true and proper Summerlin, the cheapest 2 bed condo you will find will be around $190k-$200k. In the immediate surrounding area, you may be able to find condos for $160k+. Let me know if you have any further questions.

Hi Kuang, I don't believe you will be able to find any 2 bed condos/townhouses in Summerlin for $150k or below. You may find some condos just outside of summerlin at that price. The rental market in all of Las Vegas is hot. If priced right, most properties will get snapped up quickly. As for the quality of renters, that will primarily depend on your tenant screening processes. The cheapest 2 bed condos in the summerlin and surrounding area would be $1k/m, but quickly climb depending on the size, and location. Keep in mind HOA fees too when thinking of your profits. I would say $180/m on the low end for HOAs. Hope this helps!

I would recommend a side gig to help you increase your income, and simultaneously, eliminate any debt you have which will help boost your credit score. Have you decided where you have to invest? 

You do not need a license to invest and depending on your strategy, you may not need an agent to invest. Though, an agent’s knowledge could be very helpful for a new investor. 

Hi Nick!

Sounds like a great price! Wouldn’t it be nice to still pick up homes in Vegas at those prices?! Where is the property located and what’s the monthly rental income?

Hi Tristan! The post to which Terry Lao linked provides some good information. If you need any further information, you can reach out to me. I’m a local real estate agent and can help answer questions you may have.

Hi Ian, I have been reading that sales in the LA area have slowed quite a bit over the last several months. Prices haven’t yet followed, but that would make me really wary when playing with a multi million dollar property. Have you considered pursuing a similar strategy on a smaller scale? 

Also, I know you said multi-plexes aren’t necessarily good for income on traditional month-to-month basis. Would the numbers work if you bought a four plex, having you live in one unit, and maintaining the property as your primary, and offering the other three units on air bnb? Offering one or two of the units on a room rent basis and offering the other unit(s) as a whole unit could help the numbers work.

Hi Jerry, I’m an agent in here in Vegas. Let me know if you have any further questions.

1) I would suggest shopping around for a brokerage before signing an agreement with any of them. See what other offices have to offer, and would suggest not basing your decision solely on commission split. While commission splits are important, guidance and training can help you become a far more successful agent, all while helping you build your business and make more money. I also would not make a decision based on who will/won’t give you leads. The best lead source will always be yourself. Learn to prospect and you will learn to build your own business. Typically the agreements are at-will independent contractor agreements and when interviewing the brokerage, you can ask for a copy of the agreement to take home and review them before signing them.

2) I can’t say for sure, but I would suspect that is the case. They paint a glamorous picture to get you to sign with them. Then, underdeliver. Remember, it is your business. You take control of it by producing your own business and your own leads. With this in mind, you want to try and avoid jumping brokerages too often, so doing your research/interviews initially is important.

3) I could be wrong on this end, but I believe builders do want agents that have at least a couple years of experience. While it can be a cushy gig, you are dependent on leads walking in. Meaning, you aren’t in control of your business. Right now there is huge demand, but that will eventually slow down and if you aren’t used to producing your business, you may struggle at that point.

4) I work 7am-3:30pm and find that it works pretty well. I can either prospect, or show homes after 3:30 since most people get off around 5pm. I am also off weekends and those are also good days to have off.

Hi Steve, I was recently in the Dayton, OH area and it seemed pretty rough, specifically in the downtown area. I did see some far nicer areas in the southern areas just east of Miamisburg. I would be cautious on investing closer to the city. In Las Vegas, I can’t seem to find any deals worth grabbing for buy and hold. Especially not under $75k. I’m curious about your other picks though. I’ll have to do some research on those.

Hi Sam, I went with Berkshire Hathaway’s classes. If you go on groupon and search Americana Academy, it should be the first result. They have 2 locations (on St. Rose & by IKEA) for classes. I took the afternoon course and had a great experience. The first recommendation I give to anyone taking the class is read the material before class. In the class, the instructor reads little from the book, and covered the real important points while giving more time to scenario examples. Let me know if you have any questions.