All Forum Posts by: Jon Satchwell

I am interesting in buying more rental properties, but I recently switched jobs so I’m no longer on a W2. I now have an S corporation where I am required to pay myself on a W2.

Instead of waiting 2 years, I’m wondering if I make my W2 income high enough to qualify for a mortgage if a bank would be willing to lend based on that. Thoughts?

@Thomas Moran

I think the Greenville market is a strong market with the hospital and university anchoring the economy. Raleigh is projected for huge growth as well which will indirectly affect Greenville. I’m very bullish on the market there, it has steady population growth which is only going to continue

@Thomas Moran

As an investor in Greenville, I would say this is a great deal with very low downside. Your risk is minimal and the property could yield fantastic cash flow. Also, judging by the fact that I’m jealous and wish I had this deal in my lap, take it.

I am interested in getting some input from other investors in Las Vegas. I recently purchased an out of state rental property, but I'm now looking to see what I can do to lower my housing costs (about $1300 a month with utilities). I have looked into house hacking a fourplex but they are all in areas that I wouldn't feel comfortable leaving my wife home alone. 

Short-term rentals really intrigue me but I know they're tricky in Vegas. However, I have seen that you can airbnb as long as you reside in the property. My thought was to buy a house with a casita or guest house to airbnb. I know there are rules and business license fees associated with this, but it could still be worth it. I'm wondering if anyone else has tried or know someone who uses this strategy, or if there are any other suggestions for other types of house hacking in Vegas.

@Jeremy Davis

Vegas will definitely be probably the hardest hit market in the country from COVID-19. The unemployment here is already astounding. I absolutely agree that real estate probably won’t be hit as hard as the 08 recession, but hit from less activity in the market. That being said, Vegas being hit hard also provides a lot of opportunity. The tricky part is that there is bound to be a “new normal” after COVID-19 and what is that going to be like?

In my opinion, it’s unfortunate and it sucks that Vegas is hit so hard as I know a lot of people that are struggling and have lost their jobs. But as someone who has been saving and has a stable career, I am excited for the opportunities that will come from this because I’m sure there will be plenty of great opportunities to make some good money. In fact, Vegas might very well have more opportunities than most other markets because it’s been hit so hard.

@Neil Henderson couldn’t agree more Neil

@Frank H

Have you considered moving into the new home in Vegas and renting out your current residence? If you get a lease signed on your current home in advance then it’s much easier to qualify for another loan because they can include that lease in your income. Not to mention you can get better financing on your new home as a personal residence.

@Ryan Miller

I've looked into the multifamily scene here in Las Vegas as well. Everyone I've talked to has very much encouraged against it because most of there are in terrible areas and not in good shape. They are also not going to attract good tenants. So what I've found is SFH in good neighborhoods is the best way to invest in Vegas. Lowest hassle and highest return and safest in the case of a market correction.

I’m looking for local meetups in Las Vegas to talk real estate with local investors. Does anyone know of any? I’m located in Summerlin

I have recently graduated with my Masters Degree in Accounting and have started my career here in Las Vegas as a CPA. I am looking to buy an investment property right off the bat, hopefully a small multi family property.

The fourplexes in Vegas seem to be in terrible areas even though a fourplex with an FHA loan would be my ideal first property. I would love to get input from others as to alternative strategies or maybe better areas for fourplexes. I'm also looking to expand my network in Vegas and would love to get in touch with or meet up with local investors, lenders, or brokers.