All Forum Posts by: Kurt Brauner

Three of my properties in 89107/06, I get on average 12 postcard and yellow letters a month. 

The other properties are in more desirable B+ areas receive no consistency in direct mail. Maybe 2 pieces ever other month. 

Definitely going to be a Spring to remember in Vegas! Supply numbers are even lower if you factor in tenant occupied properties closer to .50 month. 

Of the 4 other (Jacksonville/Orlando/Milwaukee/SLC ) markets that we work in only one has an effective inventory of over 1.75 months supply. Starting to see many competitors paying at or close market price anticipating the appreciation. Makes me appreciate the fact that I don't have capital that I am forced to use due to my investors expecting constant returns. 

Hi Jacoby, I have in the past done transactions with a built in renter and a signed lease prior to closing. Both times it has worked in my favor with long term renters which one purchased the property after renting for 8 years. But I have never paid at or above market value.

The only thing that I say is make sure that you running you numbers based on market rents and not what the prospective renters will be paying, if they are paying above market rents to you. I had one person term at renewal on PM client properties who was expect the above market rents to continue. 

Typically we see EMD listed anywhere from 1-3% of the purchase price of the home LAS Vegas.

Do not turn the water off as it could be considered a constructive eviction. If your lease states that the tenant is responsible for keeping the utilities  on in their names they are in breach of the lease. I would advise the tenant and initiate a 5 Notice to Perform Lease Condition or Quit.

@Stephen Sokolow I am not aware of any virtual meet ups in the Vegas market but we do have a in person meeting called Real Estate Church. It is the 2nd Sunday of every month at 9am. I’m sure that @Spencer Cornelia and his can give you the details and maybe even set up a virtual tie in since he is a YouTube superstar and tech guru. 

Highly recommend @Spencer Cornelia meetup!  

I own a few rentals in Las Vegas left and all cashflow although I have sold the vast majority of my properties here over the last 2 years redeploying the capital into larger projects out of state. How did I do it, well, I bought them in 2011-2014. 

As for the whether you can find properties that cash flow, the answer is yes but as stated by Terri above they are more work than searching MLS as most are off market deals. I do have investor clients that from time to time we will find great deals on MLS but they are few and far between.

Most of our investors that are currently purchasing properties in Clark County are purchasing in cash and the mosts strategies are investing for the long term with below average COC with the expectation of appreciation in 15-25 years.

@Samuel Williams I would recommend coming to the Desert Rat "Real Estate Church" meetup. Very low key and no sales pitches. Great mix of experienced skilled investors and newbies just getting started. The group meets the 2nd Sunday of each month on the patio at Panera Bread on Blue Diamond at 9AM. For more details reach out to @Spencer Cornelia or feel free to message me.   

@Christopher Dunson I recommend Ellsworth & Stout or Piercy, Bowler, Taylor & Kern.