All Forum Posts by: Julie Dillon

@Ronald Starusnak

Don't assume they're poor or for that matter, don't make any assumptions. Present your facts and let them do the same. Then make a decision. Best wishes!

Hi Ben and welcome to Bigger Pockets!

I'm still new to investing but I'd love to share what I've learned. My home is in Las Vegas but because my husband and I travel frequently and live in other cities while he works 3 month work contracts, we rent out our home for vacation rentals.  We are about to purchase a 4-plex here in Vegas to house hack and turn our home into a full-time rental. We also have a duplex in Springfield, Missouri and a house in Columbus, Ohio. If you and your wife are in Vegas March 9 or 10 we would love to take you out for lunch and chat about real estate.

God bless and best wishes!

@James Wise

I'm here on Bigger Pockets as a Pro member working on my next purchase (a 4-plex) because I saw a YouTube video 6 months ago from Morris Invest. I didn't buy a turnkey property from his company but watched a bunch of his videos and from that I turned from a homemaker to a Real Estate Investor with properties in 3 states with a solid team of professionals helping me grow my business. I owe much of my current success to the education I got from watching his free videos.

I don't know the full story but I'm not here to pass judgment and I don't know enough to even have an informed opinion...I'm just sharing my personal experience.

God Bless!

My home is in Henderson and it's always been a great area for families. Recently lots of new residential and business construction have started and its driving up already high home prices even higher. It might be a tough market to get into initially because you may use up a significant amount of cash to buy an overpriced property and it may not cashflow what you need. In the long term, it should pay off as it's an attractive area just run your numbers very carefully. Best wishes!

I'll have to pass on the offer this time but thanks for reaching out. I'm working on a different project out west.

😀

@Dominick Austria

Thanks for info. I wasn't aware of all the rules associated with the Opportunity Zone program.

@Ryan Miller

P.S. If are are going to look at C or D class properties, I highly reccomend you find ones in the 'Opportunity Zone'. You will receive a tax benefit for buying in these areas that the government has recognized as needing revitalization.

www.diversifynevada.com

or

www.clarkcountynv.gov

...and search for opportunity zone

@Ryan Miller

I'm shopping for a 4-plex right now in C and D class neighborhoods here in Vegas. I'm house hacking with a VA loan and reccomend doing the same if you can.

The Vegas market for a first time investor is difficult with prices so high compared to a short time ago but it is possible even with C and D properties. These places are often the last stop before homelessness and with the huge influx of new transplants to the Vegas area, the prices are being driven up at every price point and the supply of affordable housing is low. In the low income spectrum you will find the troublemakers but also lots of hard-working ppl who will be long-term tenants because unlike A and B renters who leave to buy their own home, they stay for life.

The difficulty is when you buy. My opinion is that the available 4-plexes are overpriced because their isn't much supply of them right now. To make your cash flow work you have to find a way to negotiate the price down.

Best of Luck!

This is the Las Vegas market.

@Jens Tutzauer

I just looked at 4-plexes today...perfect timing!

I was looking at 4-plexes in the 350K-450K range and the supply is low. I lot of them are in rough neighborhoods and the condition of of the properties aren't great, probably alot of deferred maintenance. Personally, I think most of the 4-plexes are way overpriced for what they rent for. It would be extremely difficult to get decent cashflow. On the positive, my realtor believes the rental rates are still going up and it seems that there is more demand than supply of affordable housing. It may be a different scenario in the 500K+ range.