All Forum Posts by: John Robb

Thank you all for the feedback. Chris - I will keep you in mind when the time comes. On the 50k price point I understand that they will be older homes in rundown neighborhoods. My strategy is to get a few of these to start generating cash flow then start looking at Multi Family properties. I feel like these are the only properties in Las Vegas that will cash flow and have a good CCR. Homes at a higher price like the first property I purchased are way more expensive have a lower CCR and are usually cash flow negative. For my strategy of buy and hold CCR and Cash flow are huge. That being said I am new to all of this so this is based entirely on what I have read books and in the forums and listen to the podcast so I welcome feedback and insight. I would really like to chat with anyone currently investing in the Las Vegas area.

Hello BP Folks, My name is John and I live in St George, Utah. I worked in Solar for 4 years in California and Nevada but was forced to move and start over when Solar was shut down in Nevada. I just started a pool maintenance and repair business. I had my first real estate experience when I bought my 3/2 single family house in January 2016. I bought it on a 5% down, 4% conventional for $180,000. I now rent it out to cover the mortgage. I just found BP about a month ago through YouTube then I started listening to the podcast. I truly wish I had found it before I bought my house. As the saying goes "Hind sight is 20/20". I have learned I over paid on my house by about 25%, a house covering the mortgage is costing me money, and how important it is to analyze a property to make sure it cash flows and has a good CCR before making a purchase. All principles I look forward to apply to my next property. So here's where I am at today. I have about $10k saved and plan to purchase a condo/apartment/ SFD in Vegas for under $50k. I have excellent credit that being said banks/ credit unions don't loan to people that are self employed until you have 2 years of self employed tax returns. Anyone have any experience being self employed under a year and borrowing to buying real estate? Any advice, tips, tricks, etc is greatly appreciated.