All Forum Posts by: Stephan Kraus

Hey Guys, thanks for the street cred but i think there's a bunch way more experienced guys out here in the Vegas market that are way more qualified than myself, and most of those questions have been discussed in depth before on here, just check out the search - 

My answer would be fairly generic as it really "depends" on what you are looking to do, what your short- and longterm goals are - My portfolio currently consists off SFH, regular rentals and i have an airbnb in North Las Vegas, we are in the process of closing on a auction property in Henderson that i hope to BRRRR into an Airbnb eventually, now that the city has a new ordinance, but it will also work as a flip. Generally i like to hold properties, Im not a flipper, i get, but there's a bunch out here who are crushing it here with flips though., like Ryan Pineda, Luke Weber or Kenny Carcerres.. you see there's not the one golden strategy (or i just haven't found it yet).

I would not say all small MF are in bad areas, but many the seem to be affordable at first you might want to be REALLY diligent analysing. I'm personally looking for 6-20 unit multifamily properties at the moment, but its a slow process to be honest. 

it can be tough to find a deal where the numbers work, but that doesn't mean you should change your numbers, just keep analysing and build your pipeline to keep the leads coming and you will find one - the hard part is getting that deal pipeline, i`m still working on that myself. I actually bought 2 of my properties from the MLS even - one of those for 200k in 2017 that just appraised for 340k - so dont get discouraged, there's deals out there, you just gotta find them

Hey Neisser, Welcome to Vegas!

There is not a lot of meet ups going on right now, and the few that are often feel more like a sales pitch for something (not all of them though, i hear @Alexander Felice's meet is pretty cool for example) just be mindful of that. I was thinking about organising a small meet at our new project we just acquired in the next few weeks - do a little tour of the property, talk about our plans with it and share some numbers, and have a laid back conversation over a beer or two and talk shop with like-minded investors. 

If we find a few people that show interest for a investor-to-investor meet like that i would set something up once we close on the deal 🤙🏼

hey Brad, im currently looking for flooring for two properties in vegas too! 

i bought tile from floor & decor before for two renovations, got a fair deal there, depends on how set you are on the design i guess - i have decided to replace the carpet in both of the new projects with luxury vinyl instead, i think it looks almost the same but is a bit more 'every day life friendly' today. waterproof, no tiles that crack when you drop a pot or other heavy object, no grout lines that change color, easy to clean, lifetime warranty, floating installation etc. 

I have not decided yet as to where to buy, so looking for the plug here too, but im leaning to buying at lumber liquidators. 

happy remodelling! 🤙🏼

Hey Travis - where in hawaii? i own a few properties in Vegas and have been thinking about selling one or two and buy something in hawaii instead for a while haha - i actually just decided to not renew the lease on one and list it for sale at the end of the month, and consider selling another one - its a shot faaaar into the blue, but maybe we could structure a deal.......? That way both parties could eliminate some tax liability, and a good chunk of realtor fees... would obviously need some talking tho to work something out! 

Send me a PM if that is something thats generally of interest to you guys! 🤯🤔

you can try furnished finder, they charge a one time listing fee, and have ok reach, platform has room for improvement but you'll get some leads. 

Another thing i'd recommend is calling up agency's ir hospitals directly, they often have recommendation lists they give their travelling staff and are usually happy to add you. 

@Michael Rone

Hey Michael, i can't give you any insight to Houston, we do invest in Las Vegas though, and while we consider (and explore potential of) other markets, we are happy enough here currently.

Las Vegas is only now about to be fully recovered from the last meltdown, Property Values in most areas are still going up at impressive rates, albeit slightly slower then the previous few double-digit appreciation years though.

The city is growing, housing demand is high and increasing, supply is low and many areas are improving. New projects outside the entertainment industry are creating new jobs, and the citys of Las Vegas, Henderson and North Las Vegas invest heavily in infrastructure and improving live quality, which are all great signs to start or continue investing here.

what exactly would you want me to explain? i think calculators (here on BP and others) are great tools to get familiar with analyzing deals, which is the number one thing i suggest you do to get a good understanding of your local market (or any market you want to get familiar with for that matter). It will also sharpen your understanding of underlying things like estimating rehab costs etc, if you continue to and get really good at running numbers. Also set alarms and notifications to new listings that match your criteria and keywords on the forums. talk to people, network if you can, and read, read, read, listen to podcasts... 

Good Luck on your journey!

Morning Andre, im curious, which main driver of the last GFC dont you see resolved / still at risk? Genuine question, as i believed that with tighter underwriting of loans and Dodd-Frank there won't at least be another pricing bubble? (like we still have it with sub prime auto loans and student loans though) 

Of course there will be another downturn eventually, but it will most likely not be due to an over inflated housing market. If you look at the very linear upwards trending price index historically, we are just arriving at (or in vegas and phoenix still slightly below) the levels that we were supposed to be at, if the kink in 2006 would have never happened. 

What problem do you deem bigger than before or during the last recession? 

I agree on your tip that leverage and a cushion in rent plus an emergency fund should be good shelter for whatever reason the next recession will cause

<------- THIS. a lot of people are having problems with using averages and medians in statistics, leading them to confused conclusions, not taking into account the whole picture or how a small unrelated change can completely misinterpret and undermine a whole other set of data.