All Forum Posts by: Stephan Kraus

@Aaron Henson

Hey Aaron, im currently looking for partners in very promising multifamily deal, im based in Vegas bjt the property would be up in lake Tahoe - if you're interested to see how we could work together on this, shoot me a DM! 🤙🏼

Hi BP experts, 

Im looking to purchase a multifamily property that is owned by an LLC. For various reasons im considering buying the Business VS. buying the property, now my question is: Does the property tax assessment change, if the state (California) is only allowed to reassess if the owner changes or I do a large remodel?

The new assessment would almost triple the current property tax, which I am fine with since I also get to depreciate the higher value, I assume I can't have one without the other? (or can I - keep old prop. tax assessment AND claim depreciation on the purchase price?)

Help me clear my brain knots please! :D 

@Joe Splitrock

i dont think commercial loan would work here since its considered residential due to only beeing a duplex. there are many banks who will lend based on the property's DSCR (Debt Service coverage ratio, the income of the property), look up mbanc for starters, but there are many "non qm" lenders that will do a scenario like this in your market 🤞🏼

good luck!

@Ashley Burke

why would we? we're still not at pre financia crisis levels, or just at maybe - we're still a bit below where we would have been if the market didnt tank.

and homeowners now have equity, prices aren't inflated just a result of incredibly low supply and high demand

@Ron Nir

Las Vegas i oversaturated with cali-cash buyers throwing ARV money at run down dumps, thinking they get a great deal because "its a lot cheaper than California"

A lot of serious local investors are investing out of state due to the lack of inventory and fierce competition here, so Vegas wouldn't be a market i still recommend, especially if you dont already have a good boots on the ground team here.

I put some money from sales this year in the stock market and was lucky enough to ride the tech wave up, but dont like the lack of control so im also looking diversify back into more RE deals. I wont do a deal with 10k spread though, just so i have done one. Im going to increase my marketing by 5X in 2021, if anyone is looking to partner on vegas deals instead of trying to build a business here remotely on their own, feel free to reach out! 🤙🏼

@Michael Serwicki

i got a rental property i Brrrr'd in downtown, they can be interesting but have their own set of challenges. lotd of foundation issues from calici deposits, and worst of all LOTS of shady people close by (had two breakins within 6 weeks, and thats the nice area of downtown)

i would focus on streets with at least 25-50% remodelled homes already, if you want to shoot for downtown, or the North las Vegas (89031, 89032) Areas and other fast growing / high appreciation zip codes like 89107, 89138, 89147 etc.

thanks, ill shoot you a text with mine! im at a trackday tomorrow, but will start a new marketing campaign in the evening, looking to get those leads rolling to take em down in January!

@Michael Serwicki

The great thing about real estate is, as long as there are humans, there will be a demand for homes. And there is also a never ending supply of properties, you have to change your scarcity mindset as theres plenty of owners deciding to (or getting convinced to) sell every day. 😎

No need to rely on brokers or wholesalers, i do my own marketing, currently planning on increasing my advertising budget to 6-8k every month to market direct to sellers in 2021 - its a numbers game, but im ready to fill the funnel, just need good people to handle the rehabs 🤘🏻

Let's get something done 🤙🏼

@Michael Serwicki

hey Michael, lets talk! i've done a few flips in vegas, always with different contractors due to them beeing flaky or unprofessional, which kept me from scaling up until now - looking for a reliable partner to handle the increased deal flow im striving for in 2021!

Message me on directly or reply here if interested!

Merrx X-mas, Stephan!