All Forum Posts by: Justin Kill

May I ask why you are interested in buying in Reno and not someplace in Northern CA?

I got this from literature from the National Association of Realtors. But, a quick online search brought up a couple articles with the same information. 

https://www.nar.realtor/articles/fha-condo-owner-o...

https://www.washingtonpost.com/realestate/congress...

This will probably take awhile to roll out, but FHA guidelines are supposed to be going down to 35% provided other requirements from my understanding. The condo has to go through some re-certification process to be approved. Any insight form someone closer to this matter (lender, condo person, etc.)? 

This may not help in this exact situation but FHA guidelines actually just went down to 35% provided other requirements from my understanding. I am not that familiar with the exacts so it would probably be best to talk to a lender. Also, the condo has to go through some re-certification process from my understanding though.

I have not seen discussion on Assembly Bill 161 that took place this month witch effects rental agreements in Nevada. If you don;t use a licensed property manager (or even if you do) you may want to re-visit your rental agreement practices.  I took the below from Las Vegas Review-Journal. 

— Assembly Bill 161, which takes effect July 1, targets squatters. It requires rental contracts to have a disclosure creating “rebuttable presumptions” that tenants don’t have the right to live there if they can’t furnish a notarized or management-signed lease.

(For those, like me, unfamiliar with this legalese, a rebuttable presumption is something that can be “inferred from the existence of a given set of facts,” according to Cornell Law School’s Legal Information Institute.)

Squatters in Las Vegas routinely have fake leases, and AB 161 initially sought to require that rental contracts for single-family homes be notarized. But real estate pros and others pushed back.

Berkshire Hathaway HomeServices broker Heidi Kasama, next year’s president of the Nevada Association of Realtors, told me a few months agothat AB 161, as originally proposed, was a “well-intentioned bill” but would be a “nightmare” in practice.

https://www.reviewjournal.com/business/business-columns/real-estate-insider/flurry-of-housing-related-measures-signed-into-law-by-sandoval/

Very cool. I really like the design specifically the flooring and painted kitchen cabinets.

Did you apply a good primer/sealer like Kilz or Zinsser to the floors and walls before painting and laying down new carpet? That can make a world of a difference.

Thats awesome! Very creative strategy. Im interested in how you got the other residents to move. Cash?

Awesome job. I am hoping to make the jump here this year. 

Very cool. May I ask how you are doing on finding renters down in Portsmouth? If you are able to find decent renters and get enough of these properties you could do pretty well I if you are good at it.