All Forum Posts by: Leon Huang

• @Jameson Schwab
• That's a great data point regarding the level of interest. I am happy to say that my partner and I have shifted our strategy and are now looking into young professionals and young families in addition to the regular cadre of students. Thank you for the tip!
• @Jonas Buchholz
• @Jonas Buchholz
• What a smart hack. We are definitely going to be referencing the link. Thank you for the time-saving tip regarding traveling nurses.
• @Dan H.
• @Dan H.
• Great sanity check on our calcs and assumptions. The refresher on the 50% rule led us to re-evaluate our strategy based on our reply. Thank you.

Hello @Jameson Schwab,

Thank you for your earnest reply.

A small 3/2 under 1100 sq ft for $385k with a SF of $550/mo? That's quite a deal you've created. Do you find that your potential tenants are familiar with the range of the rent around the area? We're seeing a range of $550-800/room. I think there's only so much justification for an out-of-family price especially considering the market forces that are nearby. How would you approach this?

Hello @Jonas Buchholz

Excellent response. I appreciate your thoughtful replies. How do you mean that there are ways around ADUs? I am familiar with multi-zoned properties but other than that...

The reason we did not want to rent by room was based on our agreement with our property manager. The operational costs and logistics can be quite a headache. 

On another note, have you noticed what type of families that come to Reno and where do they want to live? 

Hello BiggerPockets Forum,

My business partner and I are first-time investors and would appreciate a reality check on our strategy. We are targeting SFH in a 1 -3 mile radius of UNR campus. We want between 3-5 tenants under a single lease. We are NOT pursuing rent by the door. We are working with a 20% downpayment at 4% interest for 30 yrs. We are looking at larger 3BD/2BA for opportunities to convert extra rooms/finished basements/garages into extra beds/baths.

We noticed if the rent is about 0.5% of the total property value, we will be about breakeven for pure cashflow at the following assumptions using BP's Rental Calculator (e.g., $500k property requires ~$2500 rental income to breakeven):

5% CAPEX, 5% vacancy, 5% repairs/maintenance, and 8% property management (we have something worked out with our property manager)

Here are our questions:

-Would ~$600/room be a competitive rate? (4 rooms @ $2.4k or 5 rooms @ $2.75k).

-How competitive is our strategy in today's market? We are targeting a CF of $400-600.

-What neighborhoods in the UNR area should we steer clear of? We've heard specific neighborhoods are rougher.

-Is there a market for 3-5 person tenant arrangements under a single lease besides students? In the event, it is too late to capitalize on the upcoming school semester.

We appreciate any advice or insight. Thank you.

Thanks for the tip, Chad. Didn't know Real Estate visas were a thing. Already sent a message to her, fingers crossed    

Hi all. I've become fascinated with real estate the last couple of months or so and have been devouring BP content. Really excited and want to get my feet wet with assembling a team and closing my first deal. 

I'm currently on an F1 visa doing STEM OPT with a shot of an H1B in the next 2 years. I've read a couple of posts saying that as long as I obtain passive income from investing in real estate, there's no legal issues. However, I've also been told by an immigration lawyer that if I own any property, that could affect my chances of getting an E2 visa if my H1B applications weren't successful.

The intersection between immigration law, taxes and real estate is just really confusing and I'd like to talk to somebody who can give me legal and financial council on how best to invest (e.g set up an LLC so there are no properties under your name, get a property management company to prove passive income etc etc). I'm not sure where to look for people in this intersection so I appreciate if the BP community could suggest people I speak with to sort this murky REI on a visa stuff out.

Thanks for your time all.