All Forum Posts by: John Robb

Are you all still doing this here in St George?

@Tyler Weaver

Awesome I will give them a call. Thank you Tyler.

@Tyler Weaver @Allan Smith @Daniel Haberkost

Thank you all for the insight. I had originally thought of doing like Tyler said and using a Lender that offered year+ terms. My thinking being this year is almost over and and so I would only need the hard money for a year at which point my returns would allow me to get refinancing. That being said it would be far better if I had a deal with a local bank to guarantee a refinance at the end. The deal cash flows so well that even after pay the hard money cost it would still be profitable. That being said it from all your feedback it sounds like finding a partner with the financials would be safer better play. Thank you all for the awesome information.

@Daniel Vandenbos

Thank you so much for the advice. I’m going to reach out to a few local banks on Monday. Thank you again.

@Doran Summers

It is a duplex for $70,000. Talked to a few property manager should rent for $1200-1500.

@Daniel Haberkost

Hey Daniel, thank you for the reply I apologize I failed to mention what the deal was. It is a Buy and hold an investment.

Hey everyone,

I have found a deal, I have the money for the down payment plus a bit extra, and I have stellar credit. That being said I cannot get a loan through a bank or mortgage lender due to being self-employed and having a bad year last year. My friends and family have no interest in pursuing real estate or anything real estate related. So my question to you all is is pursuing hard-money my best bet? Thank you for the feedback.

@Bonnie Johnson

Hey Bonnie,

Cozy.co is a good platform for getting renters. I posted my room for rent on there and they posted it to a few sights.

On a side note if you are planning on doing Airbnb or Short term rentals you should check with the city. In Vegas they only allow a certain number of STRs within a certain distance of each other. They have a map online that shows you if you qualify to offer STR. Also they require a specific business license, inspection, and additional code requirements for STRs. Hope this helps. :)

@Robert Fritsche

I live here in Las Vegas and work part time as a Realtor, a couple pieces of advice I would give with Condos or any HOA for that matter is to read the CC and Rs before purchasing. A lot of HOA's here have bylaws that cap rentals meaning they only allow a certain number of rentals in their communities. The other thing would be to look up the HOA and see what people are saying about it. The ones that are great are really great but the ones that are bad are really bad. There doesn't really appear to be a gray area here. That being said with a little homework condos can be great cash flow opportunities.

@Gustavo Soria

Hey Gustavo,

I’m a realtor here in Las Vegas. Just to give you a heads up if you’re looking to get into an investment property with 25% down about the only thing you will find in that price range is a condo currently. If you are wanting to move here and are willing to live in your purchase for a year you will find a lot more options with $35k.