All Forum Posts by: John P.

I have properties in Memphis and jax so can’t speak to Orlando specifically. All good but those Florida property taxes are killers! Plus harder to insure property in Flordia. Look into insurance before you buy. 

I love this positive news. We need more of it. 

@Eric Fernwood great post as usual. I love the data you share. Thank you. I too am wondering about the factors you mention such as the exodus from California for keeping Vegas values up. That exodus doesn’t seem to be letting up and those people can often pay cash for their Las Vegas home. Seems like it’s bound to keep prices up. Hopefully the June 4th re-opening goes well and tourists come back in droves! 

 I don’t know. So far my four Vegas properties have paid in full each month. Hopefully that continues. 

Investing in downtown area or unlv area is completely different investment than Summerlin or nice parts of Henderson. I am not suggesting one is better. They are just different. Different investors are better suited to different investments. I have four rentals in summerlin and been very happy. Tenants have been easy, no vacancies, rent arrives on time, etc. Typically, at least on paper, you get better return with lower level home areas (like downtown area) but I find it to be more headaches and Not worth the potential. Someone above asked why pay for hoa? That’s easy. Summerlin is around $50 a month and good tenants want to be there for good schools among other things. I thus believe you get more demand and better tenants. Obviously I am generalizing but I have been happy with my Summerlin investments. Good luck. 

Plan makes sense to me. Vegas prices “should be” softening so I like the idea to rent a while. Plus you can check out areas of town and see what you like best. Go for it!  

That's sort of my point. Sure there will be softening but not firesale. I have been following the higher end North Scottsdale market ($1m+) and asking prices haven't changed much yet. This guy quoted here seems to suggest fire sale but then I look him up and it appears he owns a 72 hour sale real estate agency so I assume he wants people thinking there are fire sales going on!?  Here's quote from article and then link to article below: 

"Many Airbnb hosts are desperate to sell properties, say real-estate brokers like Greg Hague, who runs a Phoenix real-estate firm and helped state lawmakers draft short-term-rental legislation. “There’s been a flood of people. You have people coming to us saying, ‘I’m a month or two away from foreclosure. What’s it going to take to get it sold now?’ ” he said. That has diminished overall property values, he said."


https://www.wsj.com/articles/a-bargain-with-the-devilbill-comes-due-for-overextended-airbnb-hosts-11588083336

Article in Wall Street Journal today seems to suggest there are fire sales going on with AirBnB houses but I have not seen that anywhere that I pay attention to including Scottsdale and Tucson.  I don't see why there would be fire sales as prices haven't fallen yet so most people should be able to sell pretty quickly with at least slim equity I would think!?

I like my Memphis rentals overall but my PM is killing me on the turns. I liked them a lot at first but it seems like they just keep seeing how high they can go on repair costs. :( 

I wonder if these numbers are similar to most cities across the country!? I would assume so. Not looking for people to post anecdotal experiences but rather what are actual mls numbers trending like? I assume similar everywhere!!