All Forum Posts by: Gaby Liu

Hello , Reynaldo, I was wondering how did your mid term rental go of your vegas house? 

 very informative, what do you think of a 5b3b house, is it hard to put 5 traveling nurses in a house at one time , or add different group of people to  the house to increase the occupancy rate?

I have a 5b3b brand new built house in Las Vegas gated community is going to close in a few days, 2 hospital campus and a 3 year college near by, (HOA requires 90 days minimum stay) , I am debating what would be a better option;

A:Renting out the whole place as one price $2500 to long term rental , no need to furnish. hands off, but the cash flow is negative $200/month. COC negative 1.5%

Pros: less work , pay one time commission  to put tenant in place, easy for me to remotely manage , less turnover. no need to furnish

Cons: negative cash flow, 200 a month that is $2400 a year.

B: Doing it room by room, to rent it out 5 different people in one house, $900-1100/room, total gross income is $4000-4500, Cash flow will be $1000-1300/month. COC is about 7%

Pros: Cash flow is positive

Cons:

1,Furnish the house cost money and time ,if doesn't work for MTR , I have to un-furnish it to switch back to LTR.

2,It is a big house , not sure if it is easy to put 5 traveling nurses in the house at one time, if not ,then I need to add other different group of people in the house , potential raise problem ? what if tenant fight each other in the house or have room break in and sue the landlord?

I called insurance company when they hear I rent out room by room for different people they don't have policy to cover that. al

So , Since I don't live in Vegas ,So I m managing out of state , I really debating what should I do with this house, any advise is appreciated,  and I need to make decision soon to go which route. 

thank you !

it happened to me once ,similar situation , I got bill from HOA because the house water heater leak and flood , the bill was $4000 ish, I refused to pay because they didn't inform me about this situation and just sent the plumber did the work, I argued in the CC&R that HOA can offer Owner options of different bids for the repairs, they can't go in and do the work without owner's approval. they argued it was emergency blah blah,well, I argued , nope , the emergency is shut off the water and have tenant move to a hotel or something. so we back and forth email argued for months. eventually ,nothing happened , they waived the bill. and no lien on me, I sold the property few years later ,all good. so I guess you have to go back to read your contract with the property management to see how do you argue ?

@Rosario Aiello

as an investor in SoCal myself ,I had good and very bad experience to invest OOS , despite the rainbows there are bad people out there too, you just have to be really careful with your money,  there are local people waiting for  California  suckers bring they hard earned money .  you can read my post about my Ohio investing. I also had another in Indi was also turn bad too.  although I had big loss $$$$, but thanks to them that I learn lesson and became stronger and smarter, it didn't stop me continue investing. but I hope you never experience what happened to me.  human nature is selfish, some of them may approach to you nice and friendly but can turn to evil later on.
so good luck and be careful. 

I had a house with tenant occupied and I sold it to another investor last year, no showing before offer accepted, then buyer see the house at inspection and also met the tenant , the tenant is good , I guess it really depends on which area , my house was in  A+ neighborhood so the chance to have bad tenant is lower I guess ,they buyer knows that too, they mentioned to tenant they will increase a bit rent at renew lease and I gave tenant for one month free to have them cooperate with the transition. it all went well.

I m on a process close a house, Today is ARM 5/1 loan, 30% down, 6% interest rate, 1%point. you can check it out , Cathay bank.

sorry I have family emergency comes up and I couldn't attend this time. 

Looking forward to meeting all of you.

I m looking forward to it.