All Forum Posts by: Stephan Kraus

@Jay Hinrichs that sounds better than a lot of the former las vegas motels that are up for sale (or have been bought by zappos) these days 😂

Thanks for the insight, thats what i my numbers say too - im looking at a discount when buying all three and potential seller financing, going to make an offer subject-to inspection. 

..any of the original post starters or contributors interested in a potential joint venture here? 🤔

@Terry Lao I'm potentially looking to buy for ourselves, if the numbers work. thx :)

Hey Terry, are those the ones that are $660 hoa/ month? do you own a property in that community? 

i got an offer on the table to buy three 4units in that community, starting my due diligence today - i know you are thinking about selling too if i recall correctly? 

@Spencer Cornelia

BRRRR doesnt work in Vegas?

i must be doing something wrong then.. 🤔😉

@Jay Hinrichs

absolutely! i just got back from 2 months in europe including a Nürburgring trackday, super motivated now to buy the next property in the next 90 days and work on the other businesses, but im always down for some seat time! 🤙🏼

@Isaac Johnson

not sure what your point is, of course a paid off house can make money, so can a house with a mortgage - but as long as it produces less capital gain / income than it costs in expenses, its a liability, not an asset in my opinion, and that will be mostly the case in the house you live in.

(Factoring all capital gains, including appreciation and tax benefits and putting all expenses againstnkt to create your net. - if you add opportunity cost loss for a paid off house and the equation can get ugly quick)

@Barry Randall Hey Barry, im not spanish but at least another fellow european investing (and since 2016 living) in the US. There are a few major differences to investing in europe, as you probably have already figured out yourself - my main advise is: find good boots on the ground, you need to get familiar with the areas you consider investing in. That brings me to my next point: The area you should start investing in depends very much on what your investi g goal is, so: Define your goal. From there you can create a plan using steps that will get you there. Happy to chat about my personal experience if you have any questions! 🤙🏼🚀

@Isaac Johnson even when its paid off, it costs you taxes, insurance, maintenance etc. It also costs you opportunity costs, which is the amount of money you could have made if you took some cash out and invested that into something else.

Someone else compared a paid off house worth 1M with $1M in the bank, and my answer would be the same - if it doesnt make you money, it is NOT an asset. the money in the bank is an asset, because it gets at least a tiny return in form of interest. is it a good asset? probably not as an investment - compared to what it could return with a higher risk investment. it could be a great asset as a reserve tho. The money itself to me is not an asset.

Its not like you made an offer sight unseen, and have been deceived - sure its a bug discrepancy on paper, If the house appraised at the agreed upon purchase price, wheres the problem? you viewed the home, liked it as is, enough to enter a purchase agreement, now got the value confirmed through appraisal.

I would not lower the price as a seller either, i would apologize for the mistake and tell you to either take it or leave it - which are exactly your options, unless you want to have your lawyer check if there is any legal recourse - but i doubt there wasn't any language on the PA that has the sellers back.

If the numbers still work, pull the trigger, its not worth getting all worked up about it, leave the emotions out of it :) Good Luck, let us know how you decide! 🤙🏼