All Forum Posts by: Luke Weber

Thanks Brian, I actually flip my own properties.  I'm always curious as to what other investors are paying/getting.  We pay our private investors 10% AROI.  If you are getting 20%, that's pretty good.

Tony, if you guys are wholesaling anything, I'm looking to buy more!  Send me anything you want to sell.  Best of luck with your AM search!

@Brian Gerardi what was the return you received on your investments?

I offered $2.6 for this package last month.  Don't just buy something because someone is selling something.  Don't speculate.  If you are asking how to get the 3.5 to do it, it's not a safe investment for you.

@Terry Lao yes, but they are selling, either cash or people paying above appraisal.  Pretty quickly the recorded values will catch up to the list prices.  Climb, plateau, climb, etc., etc.

Most multifamily throughout the Las Vegas Valley is c+/- class, we are still a transient community with high tenant turnover rate, however, with strict tenant screening it is possible to find decent ones.  As for pricing/cap rates and what the market is doing, I am currently selling one of my 4 plexes (all units are 2/1) with three currently occupied on 12 month leases with rents at $500, $500 & $600 (remaining unit should rent at $600).  It's priced at $299,000 and I have at least 6 full price offers on it.  That is what you will be dealing with.

Come hang out with us and chat about real estate! We ended off 2017 with a bang and we want to give back to those that helped make it such a successful year! If you are an investor, wholesaler, student, Realtor, or just interested in real estate, then this is an event for you.

There will be food, drinks, giveaways, knowledge and laughs. This is a great opportunity to hang out and network with other like minded professionals. We also give short "State of the Market" presentations at each event.

Also, as many of you know we give out door prizes at our parties; this time we will be holding a raffle with tickets being sold at the door and all proceeds being donated to Safe Nest. The GRAND PRIZE will be 2 Tickets to see the Vegas Golden Knights play - Premium seating & VIP Parking included...don't miss out on the buzz!

P.S. - If you plan on bringing a +1, please have them register through this event so we can plan accordingly...SEE YOU THERE!!!!

https://www.eventbrite.com/e/las-vegas-real-estate-investors-2018-social-kickoff-tickets-42333186701

I know a lot of people are taught that after they flip residential houses, they then need to go to commercial properties.  By commercial, most of these programs mean apartment buildings or more than 5 unit buildings.  I just wanted to share that many (and I mean) many of these "apartment" buildings are not worth keeping in your portfolio unless you are fine being a slum lord.  If you at the bottom of the market rent, you can expect to have the bottom of the market renter.  This means no care for your unit, late or no payments and consistent repairs and maintenance needed on these type of projects.  Don't fall for this trip and truly find out what you are getting into before you get into these "commercial" properties.

Bought $185k, rehab $13k, Sold $240k.

Even with a homeowner who stayed in the house after closing, first buyer falling out due to a bad appraisal and second buyer having a bad appraisal (but coming in with the difference), this project only took 107 days from the day we purchased it to the day the new buyer closed on it.

Keep your end goals in sight and don't stress the bumps on the road.