All Forum Posts by: Stephan Kraus

whats up lukas, hi from a fellow european and now las vegas resident! 

Thanks, @Tchaka Owen! I will look those up right now! Do you know if they offer low doc / stated income? 

greetings to FL!

Whats up BP Pro`s, 

I am looking for recommendations for a lender that offers an equity loan or line of credit for investment properties, ideally with stated income / low doc requirements. 

Background: I`m trying to access some of the equity sitting in my rentals to re-invest, but my W2 income is fairly low compared to the rental and self-employment income, due to higher deductions the total taxable income and qualifying rental income is way less than my actual income. Additionally, my credit history is fairly young (although good, between 720 -770 depending on where I look) since I only moved to the US three years ago, I have no consumer-, student-, or car-debt, 100% payment history and no derogatory marks, but the Banks I inquired at either don't have LOC for investment properties at all, or my income is considered to low on paper, and I am trying to access some of the equity sitting

Thanks in advance for taking the time to answer if you can help!

Best, Stephan

Great job and congrats to a successful start @Gary Crawford!! i also invest in Las Vegas, currently putting together a creative financing / business takeover / househack / brrrrr - behemoth project (for my experience) after dwelling in flips and rental property investing in LV - lets see how that works out haha! what's your next project? 

let's get a coffe sometime! 

@Adrienne Medina if you want to leverage your $$ instead of the Vanguard / REIT option, partner with someone who can get a mortgage.

50k down can get you one more more nicely cashflowing deals, even in Vegas! (Hi, from another vegas resident btw)

Good Luck! Feel free to message me with any questions you might have, i know a few people who are always looking to get more equity partners or private lenders to fund the next deal!

I just breezed over it, and cant help but wonder where you get your numbers from? Listprice is 230k, rental zestimate is 1250, and while that doesnt have to mean anything, i think realistically you could get $1/sqft max for that kind of property in that part of Vegas, so probably 1400-1500  if you`re lucky. 

In your case that would cashflow negative, even if you got the price down by the 22k you expect in your calculations - my opinion is: keep looking, there are still great deals out here. If you are out of state and want to invest in Vegas, you might have more success by working with a local broker or potentially syndicate with a flipper / developer, to make your 50k downpayment work harder then a sub 6% cap 

All the best, Stephan

@Tyler Hubbs that makes sense then! good job, im actively for the next property, if you come across something you cant take on yourself im happy to pay for leads / work with another agent - im going to send you a colleague request 🤙🏼

Looks great and congrats to closing! 

are your numbers right though? looks like a net loss after commissions and closing costs? 🤔

Im in Vegas too, would love to link up some time! 

we're lookimg for potential deals in San Diego and surrounding areas, preferably 2-4plexes at this time. Any leads would be greatly appreciated, how do you guys see the value to rent ratio in California, particularly in the SD County? 

Hey Keisha, just be careful with downtown units and east part of town (former "north las vegas"). 

While there might be some acceptable units, a lot of them are run-down c/d-class property in the respective neighbourhoods. Even if you`re potential property is ok, really pay close attention to the immediate neighbourhood. (For example, i would personally steer clear of 4Plexes in / around Steward in Downtown)  

I agree with Terry`s suggestion otherwise, Between 95 and 15 /515 up to the new "North Las Vegas", and south to Downtown / Springvalley and maybe Paradise are area`s where i would look. Summerlin, Henderson, and some parts of the new North Las Vegas are probably to pricey to make sense. 

Do your homework and network with local people, then do your homework again :)

Happy hunting, and all the best, 

Stephan!