All Forum Posts by: Mark A.

@Chris Davidson thanks for the response. A lot of discipline is required for sure.

Need some guidance...

Currently have 2 properties in the last Vegas market. Refinancing both for better rates to pay off non-mortgage debt. Payments will be about the same if I pull out cash. I will have about 60-80k left behind and planning to buy another property to rent.

I believe this is a good move but Im just getting cold feet

New landlord. 2 properties... Thinking LLC or not.

Are LLCs really taxed on the net income vs not is taxed on the gross?

@Thomas S. Both properties were initially bout years ago.. not as investments but as primary residents. Now I have the opportunity to use them as rentalninvestnents.

These income figures are lower because I'm getting a property manager. Charging me 7%/mo and 40% of first months income on new tenants.

It's my first time doing this and I'd feel more comfortable having a property manager. Plus I still have a full time job working 50hrs a week so don't really see how I can fun this effectively... for now at least.

I personally don't see the harm in getting positive cash flow even if it's smaller because at the end of the day it's still paying down the mortgage. Do you?

@Theresa Harris I'd like to hold both. Slowly payoff both

@Steve Hall I guess I did leave out the fact that the reason these properties are cash flowing lower is because I'm factoring in cost for a property management company.

What other info do you need to make a suggestion?

@Greg Scott in theory that would be great idea. But I bought these properties in 2009 and 2014 when the market was good. I'm afraid if I sell these now I'm going to have a difficult time finding a comparable deal.

Scenario 1: 2 houses with mortgages, very minimal but positive return on both ($4k annual net profit)

Scenario 2: sell 1 house, use equity to pay off other house ($14k annual net profit)

Which one would you do? And why?

Thanks for the suggestions guys. I'll checkout those companies

Hi everyone. Mark here from Las Vegas. I'll be putting 2 of my properties up for rent in the next few months. I'll be a brand new land lord and pretty fortunate to have 2 properties right off the bat.

I've read Rental Property Investing, Managing Rental Properties and Landloarding on AutoPilot.

Looking to get a property management company. Is anyone here from LasVegas? Can anybody recommend a solid company?

Happy to be part of this community. Looking forward to picking everyone's brains. Thanks!