All Forum Posts by: Jim Fong

I would invest in Las Vegas since it has a growing population and very high demand for housing.  With the proximity to CA, there should be great opportunity for appreciation while having good cash flow too with rising rental rates. Plus, there is no State income tax in Nevada and the tenant/landlord laws are still more landlord friendly. 

I think it would be a big mistake to not use a PM especially if you are moving abroad.  It may seem like an expense when times are good and you have a good tenant, but if or when anything more major comes up that requires an eviction, you would be wishing you had a person locally to handle these issues.  

Sam,

I found that doing the 1031 exchanges during the winter has worked well for me.  The market is slower and less competitive so for buying is great during the holidays so listing to sell in the fall works.  I am in Vegas so the market is somewhat stable and has good demand so selling isn't too difficult here.  I think the key is to do these during slow or at least stable times and not during major market shifting factors like the interest rates increasing rapidly.  

Nick,

Why can't you buy the house as a "rental" and then when you are not able to rent it out easily and then you can move into the main house and rent out the ADU. I think the house would be considered a primary after that. You should get more info on what would happen when you sell this in the future though.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $255,000

buy and hold, rental, Las Vegas

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $251,000

buy and hold, rental, Las Vegas

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $300,000

rental, buy & hold, Las Vegas

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $287,500

buy and hold, rental, Las Vegas

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $367,500
Sale price: $730,000

Started property management company after the sale of this home

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $94,500

buy and hold, rental, Las Vegas