All Forum Posts by: Marty True

The word "realty" is not a trademark. You can use the word realty in your business name and in your website domain name.

You cannot however, use the word "Realtor®" or "Realtors®" or "Realtor-Associates®" (unless they apply to you and your company) as those marks are registered with the United States Patent and Trademark Office.

From what I read, the benefits are only upon sale, assuming there is a gain. Not much benefits for the initial investment.

In my experience it is illegal to receive a percentage of the sale of real estate without being licensed. You can however, receive a flat fee. But of course, I’m not an attorney so I am not quoting law. 

@Darius Ogloza You're welcome, any time.

@Noam Ofan That's a great question... As a cashflow investor, I evaluate deals in a very specific way that caters to long and short-term goals. I also dive deep into the local market to know what is going on, in the near future. With "CityCenter" (which is where Veer Towers and Waldorf Astoria are located) and The Martin, just down from where the new Raiders stadium is being built, those properties are going to increase in value, exponentially in the next couple years. And the increases will be seen in both cashflow and appreciation.

So if the numbers work to where I can cashflow even $100/mo, it is worth it to hold for a couple years and then I'll evaluate whether its worth it to keep holding them, if the cashflow is improving; or sell them off and use the gains for down payment money on the next deal. Then there's the third option, depending on appreciation - Cash-out ReFi and use the cash for a new acquisition and let the tenant pay down the note, even if it doesn't cashflow. As long as it's a break-even, it's a win.

HOA fees at Veer and Waldorf Astoria are pretty high so the deal feasibility depends on how you fund them.

Just like the North strip has The Drew and Resort World developments that should help the property values on that end, I am betting on the Raiders Stadium being even more significant for the Center strip property values.

Hi @Darius Ogloza I’m usually a commercial/multifamily investor but have been starting to consider a few high rise units in Vegas.

I do think The developments that are going on in that area will help but The Drew’s timeline just got pushed back like a year so that will be a delay. 

As far as the three you mentioned, I would say Turnberry is a good bet but I personally would not buy in Allure or Sky. The management/HOA is really bad in both of those towers. If I was going to buy strip condo units, it will be Veer Towers, Waldorf Astoria, or The Martin (this one is one block off the strip, behind Bellagio).

Yes, I invest in Vegas and South Florida.

@Stephan Kraus yeah, that's one of the main reasons i only invest in commercial assets - because of my aggressive tax strategies, I look bad on paper for personal income.

What is your goal with the refi? Better rate? Better (lower) payment? Cash out? Longer term (due to short term ending with Lending Home)?

What might be possible, to get into asset-based lending, would be to consolidate all three properties under a single LLC and try to get a commercial loan with a local Vegas bank (not a credit union but a small, local bank).

Hey @Stephan Kraus when you say you're having a hard time finding a lender willing to refi, what are the roadblocks? Can you help us understand why the lenders you've tried are not interested?

And for SFR's you're not likely to find a lender that will do asset-based lending, unless you have a portfolio of them that you could do a blanket loan on.

It's not that I don't consider "Summerlin West" to be Summerlin. I was merely pointing out that the (original) Summerlin is known as/for the area that it is and also for some of the famous residences/residents that live in what most people consider Summerlin.

As for "is it cheaper", I can't say for certain as I have not been looking/interested in that area. I would think it would be slightly due to being (right) by the highway. Best thing to do would be to contact a Vegas realtor to answer all these questions. Rent is pretty solid in all the A,B areas (and even C+) but will be hard to find anything in the $150k range, in any of the "Summerlin" areas.

@Hector Martinez makes a good point to say "true and proper Summerlin" because there has been a lot of expansion on the "Summerlin" brand. It now extends into the West with the brand new areas "Summerlin West" and there are a good bit of condos/townhouses going up or already built, in that area too.