All Forum Posts by: Leo Rodriguez

For Las Vegas property managers!

We know it's required to use a process server to deliver notices to tenants. These services cost $$$. How are you handling this? Are you passing fees fo your tenants?

I would like to hear your opinions in this property. It's a single family I live in, estimated value is about 250k, mortgage balance 112k, two rooms are rented, that cover the mortgage payment. 1st option is to sell in 1-2 years. 2nd option is to cash out refinance now, lower mortgage rate and sell in 3-4 years. And the final option is also cash out refinance and rent the entire house, which would get twice the current rent. Which option do you think is best and why? If you have any other suggestions, I'll be happy to hear it.

@Nathan G. If someone receives a tax refund from the IRS, is not because they didn't pay taxes, it's because they paid to much.

@Bjorn Ahlblad I wouldn't necessarily call it "a disaster" but rent prices will be too high for that location.

Looking through loopnet in Las Vegas, I saw this multifamily property to be built by 2021. It's basically an 8-story luxury building, 343 units with 7,935 sf of ground floor retail, restaurants. Offered at 6.8 million. 425,926 sf building space. Rents will range from $1350-3800. The location may not be the best for this type of property but it's located in a high traffic location with plenty of retail around and close to downtown. Numbers are a bit unrealistic for me but if true I think is a great investment. I will be glad to hear opinions from large multi investors. Thank you

Here is the link to loopnet

https://www.loopnet.com/Listing/923-E-Charleston-Blvd-Las-Vegas-NV/16786115/

@Linda Lovely I'm not planning to sell anytime soon. I just bought the property 2 years ago and there's no "HUGE capital gains" as you say.

All tenants have been there for a while and I never have had any major issues, nothing that I can't handle. It just happen that this guy got a gang member to live there without my authorization.

I have decided to wait for the court order. Hopefully it doesn't take long.

Thank you everyone!

Here is the story. I have a tenant renting a unit in a 4 plex in Las Vegas, Nv. He hasn't paid this month's rent. He was served with the 7 day notice to pay or quit. Today I filled for eviction, but the court is going to take a couple day if not weeks to get him out. His girlfriend is on the lease as well but she filled a restraining order for domestic violence against him and she doesn't live there anymore. She gave me a letter to terminate her part of the lease and the report she made. There is another guy living in the unit without my consent, and honestly he seems like a criminal. Last night one of the other tenants call me at 4 in the morning that they were making excessive noise and they broke a window.

Now, I don't know if I should call the police or cross my shoulders and wait for the eviction process. The thing is that if I wait they are likely going to trash the unit much more. The deposit only covers one month rent and late fees. Also, he's violent and there are families with children living in the other units. Please let me know what are my best options? Thank you in advance!

As a small multifamily investor, we landlords are being limited the ability to manage our properties. Now we have to pay someone certified to post every notice when tenants don't pay on time, which I think is totally unnecessary. This is going to affect landlords, tenants and the city in general as we will see much more homeless people everywhere. Please share your opinions!