All Forum Posts by: Kainoa Oneha

Hi everyone,

I just had a question for anyone that might have the answer:

- Is there, or will there ever be a BiggerPockets mobile app for iOS?

I would like to surf the BP app whenever I have downtime just to get my daily news updates on real estate and take advantage of the PRO articles.

Someone help!

I agree with @Dell J.

Multi-family properties if you want that lucrative route. Live in one unit and rent out the others. IMO, you could possibly get an FHA loan to purchase the multi-family property, which will require a smaller down payment, but you'll have to pay mortgage premiums. However, when trying to get the mortgage, you could use future/expected rental income to help offset the monthly mortgage payments. I'm not sure if first time homebuyer programs would be able to help with this, but you could try, just to have the deal benefit you more.

Overtime, as appreciation increases and the mortgage balance decreases, when you reach 20% equity in the property, you could refinance the loan to a conventional loan to get rid of the mortgage premiums. 

It'll be much more lucrative if you manage the other units yourself, but your attention will be needed more. If you decide to get a property manager, you can be free of those late-night emergency calls, but you'll just have to include the property management fees with the other expenses.

Or go the SFR route. Find a flippable property, give it some sweat equity, live in it for a few years, then sell it and use the profit for a bigger home. Then work your way up. For instance, buy a condo, sell the condo, buy a townhome, sell the townhome, then buy an SFR. Benefits here are just appreciation and equity.

Hope this helps!

Congrats at entering the Real Estate world!

I'm with Keller Williams in Las Vegas. Before achieving my real estate license, I was extremely interested in the investing side of real estate. My intrigue of real estate investing is what pushed me to get my license. I really just wanted access to the MLS, but I also wanted to learn every day and be around like-minded people.

I chose Keller Williams because their education and information that they provide are phenomenal. I'm a sucker for education because I believe information is the most valuable commodity (Gordon Gekko). Alongside the education, my office brings a family-oriented vibe that is very welcoming and supportive. 

In the beginning of my realtor career, I valued more education and experience first over money. As I slowly gain experience, money will slowly show itself. However, I will forever be a student.

House Hack a Multi-Family Property

If you're willing to move, you could sell your current home, use the profits to purchase a multi-family property using an FHA loan, which will lower that down payment percentage (keep in mind the mortgage premiums), live in one unit and rent out the others.

If you have equity in your home, that could easily be the down payment you need for the multi-family property, and I believe you could use future/expected rental income to help qualify for that mortgage and help with the monthly mortgage payments. 

In summary, this wouldn't be a second property or investment property because you would be living in it, opening your options to the FHA loan, which will require a smaller down payment. Also, this opens up the avenue of real estate investing because as the property appreciates and your mortgage decreases, overtime the rental income will slowly change into cash flow.

Hope this helps!

Hi Ruigie,

I live in the Desert Shores community in Summerlin and I'm a realtor here in LV. I also bought my property in 2019, and recently refinanced at the end of 2020 for the lower interest rate. I bet you have great equity in your home because I also had my equity increase since my purchase in 2019. 

IMO, condos can be good or bad for investment purposes. One thing to keep in mind is the HOA. Putting the HOA dues in perspective when budgeting mortgage, utilities, home warranty plan, emergency funds, and property management fees could make or break the deal.

If you run the numbers right, factoring in the potential income from the rental versus the potential expenses, and having a property manager, the business may be able to run itself without your attention. At first you may not earn as much income, but overtime, as the property appreciates and the mortgage decreases, you'll slowly increase your income on the property.

Hope this information helps a little.

Hi Sarah,

I currently live in the Desert Shores community of Summerlin. I'm also a realtor for NV. For North Las Vegas, IMO, the best places you should check out is Aliante (North), and Centennial (Northwest). Currently, a typical 3 bed/2 bath is running for $350k - $400K, but since market is hot, be ready for bid wars. 

You could also try Summerlin area, but prices rise to about $400k - $450k for same criteria. Although, Summerlin IMO is a beautiful community to live in. I enjoy driving through Summerlin because it reminds of some nice parts of California. Summerlin is also one of the go-to places for some retirees or high-income households.

I know I'm late to this post, as you've mentioned you did not accept employment in LV, but I hope this information will help you in the future, if you're ever interested in investing or relocating.

Hey BiggerPocketeers!

Just out of curiosity, is the BiggerPockets app on iOS named under something else? Because I've tried searching for the BiggerPockets app on the App Store, and I can't seem to find it anywhere.

Can someone help me locate it. 

I need my BiggerPockets fix everyday when I'm away from my computer.

Hi @Constance Kang,

I wish I would have seen this post before I fell into that $30k "financial education" trap. On October 13, 2019, I made the most regretful decision of my life: spending $30k in one sitting. I'm a sucker for anyone that says financial education because I have an enormous passion for business and I value education more than money itself. 

I spent the $30k and thought I was going to have a magnificent journey of mentorship and experience in the one and only industry that I love: Real Estate. I got so involved with real estate that I decided to get my Real Estate license in March 2020. Because of COVID-19, Elite Legacy Education had to postpone the mentorship program that I paid for, which I understood fully. But till this day, that "mentorship program" that I paid for in 2019 has still not been used and the program itself has not come back to life just yet. 

I have been a Pro member with BiggerPockets since December 2019, and I believe I learned a heck of a lot more information from just the podcasts itself than any material from Elite Legacy Education. Till this day, spending that $30k has been the most regretful day of my life because I am still slowly paying back that debt. I will only trust BiggerPockets for my education and information from now on.

To conclude, I agree with your statement completely. Elite Legacy Education is just a manipulative scam that target individuals who are desperate for change in their lives. They just target the weak, but I assure this situation has made me strong to analyze the real education from the fake.

@Stephen DeThample

Yep this is true. My HOA for my condo is Vegas is $240/mo lol

@Jonathan Hulen

I live in a condo in Vegas. I live in the Summerlin side. I bought my condo for $130k. But my HOA is $240/mo.

What is the zip code of the condo you were looking at?