All Forum Posts by: Account Closed

@Mike Hern why wouldn’t you buy in California? The best appreciation historically in the nation. Also, prop 13 keeps your taxes low. I know many people that are millionaires simply because they bought a home 20 years ago.

I looked into it further. I also believe it's the HOA fees.

@Stephen DeThample

That was my first thought. None of the HOA's are listed (red flag). Are HOA's in Vegas particularly high?

@Samuel Ciccone

The areas look kind of rough. But in today’s market everything is flying off the shelf, regardless of neighborhood. I invest in Indiana and D class properties are sold in days. It seems strange that in a growing city like Vegas these properties can sit on market for months. There has to be something fundamentally wrong with them.

I was scanning Zillow today and looked at Vegas out of curiosity. I noticed quite a few sub $130,000 condos in Vegas that met the one percent rule. The suspicious thing is that many of them have been on the market for quite some time. In today’s market, any property that meets the one percent rule, even if it’s D class is gone immediately. It seems strange to me being that Vegas is one of the fastest growing cities in the country. Lots of California money flooding in. Anyone in the Vegas market want to share some insight?

@Maron Faulkner

Why don’t you call your previous lender?

@Mark Gaskins

I’ve backed out of 2 deals, and got my earnest money back on both occasions.

@Elisa Sacchetti Continue on your path to becoming a physician's assistant, and buy the house hack as soon as you can qualify. Live in that unit as long as you can while you're making good money as a PA. Banks like W-2 income. A high paying W-2 is the biggest advantage you can have in REI. You'll have more properties in 10 years if you stay on that path. I skipped college, and in hindsight I wish I hadn't. I'm 35, and doing better than most people my age. But, if I had gotten a high paying W-2 first, it would have made the journey so much faster. You could be financially free at my age if you play your cards right.

@Raphael Enrico When you get a mortgage it will be either “owner occupied” or “non owner occupied.” Owner occupied loans are for people buying a home for themselves. These loans typically have lower interest rates, and can be had for less than 20% down. Non owner occupied (investment property) loans typically require 20% down, and will have a slightly higher interest rate. If you buy an owner occupied home, you are allowed to move out and rent it to a tenant, but only after living there for one year. Talk to a mortgage broker and they will explain your options.

@Connor Dunham unless the city is sending notices about the cars on the street, I’d leave it alone. You’re making money. Pick your battles. If my tenants aren’t damaging my property, and are paying the rent on time. I don’t care what they do.

@Sang Yi Sorry your sister, not parents. Maybe what @Bill Brandt is the right move. Maybe it’s time to leave. They could buy a nicer home up in Santa Clarita or the IE in cash.