All Forum Posts by: Maurice Smith

@Account Closed yea I hear you. I guess to each is own.  You own multi family in A/b? 

@Account Closedyou have  to much emotion man that’s the problem. Sorry you fell that way

What you might consider ugly , others who are less fortunate might  think completely different. The  numbers and cash flow is what matters to me, I can care less about it  being “ ugly” 

@Casey Powers Lol i would be foolish to go off what Zillow says , like I said, I have the actual comps for the area. I was just sending you something I came across online for your review. You can pull them up for your self and see now that you know the area 

@Bjorik Mutize thank you sir I appreciate it. In my personal opinion , if your looking to invest in Vegas I would invest in rental property, suppose to you buying a home to live in for a few years banking on your appreciation  to go up. I think Vegas is on the rise, they have the lowest unemployment rate compared to other states ( which means a lot more people are employed rather then unemployed). These is a lot of new developments in Las Vegas on the way (raiders stadium and a couple new resorts just to name the main ones). There is even talk about bringing a Major League Baseball team to the city. which will open up even more jobs for both construction, seasonal, and retail, and hospitality. A lot of companies are starting to move to Vegas because of the tax instives ( Amazon for example). Once big companies like this make these kind of moves it’s only a matter of time befor others follow, or at least I would think so. 

The state of Nevada it self  is a land lord friendly state which is a good thing for landlords obviously. It only takes up to 28 days to evict Simone’s from  your property. In California it can take up to 6-8 months.

Las Vegas has city plans as far out as 2045  so the city is definitely being proactive about things. Unfortunately There is going correction comeing soon to the market, and rates are getting higher as we speak. This  will bring more demand for people that need to A spot to rent. Wich is why owning a rental is ideal for me. People may have other opinions, but this is my opinion 

@Casey Powers I weighed my options already. I’m not a fan of hoa ... and both single family’s and condos both have that in common. 

https://www.zillow.com/homedetails/6237-Bellota-Dr-APT-D-Las-Vegas-NV-89108/2086894749_zpid/ Here is a listing for one of the units for rent in the same neighborhood as mines and look indentical besides the color. Inspection came back clean and seller agrees to repair all minor issues ( like  re-cocking  The bathroom tub) etc ... thoughts? 

@Account Closed I actually already had the inspection everything came back good and got to meet all the tenants as well as the current owner , very nice people very, all tenants are family’s who at hard working. so I wouldn’t sound so confident speaking what you don’t know. 

@Casey Powers my property management  ( golden west) gave me the comps for that area and so did my realtor, also I checked in like to see what the rents were in that area and they came back higher then 700. Seems like everyone has something negative to say about 4 plex and most likely don’t own one or never have?  

No not at all.... it’s actually 2 bed 2 bath with balcony all appliances included 

@Account Closed that adress you sent me is not even in the same area as were im looking 

@Account Closed what’s the problem with 4 plex in Vegas?  The one I’m looking at is off west lake mead and rainbow area... about 5 -7 mins from Summerlin. Rents are all over 700 and that’s low compared to the comps which are all around 800 a month. And I will have a solid property management in place 

My first 4 plex "Las vegas"

First let me start off my introducing my self and letting everybody know this will be my first property ever, an investment property at that. my name is maurice. Im 26 years old and currently reside in the bay area (born and raised) were rent is expensive as hell and the price of a single family home are over 1 million dollars ( were talking 3 bedroom 2 bathroom homes). I am currently employed in the medical field. I make good money at my job, i have no kids at the moment, and have goals of one day becoming financially independent. I do not want to live on w2 income, i want to live/ thrive on passive income, cash flow, etc. which explains the reason why im interested in investing in real estate, more so multi family/ commercial real estate before my 30's.

I have always been a risk taker in life, very ambitious, strong minded individual. Some might see that as a bad thing others .might see it as a good thing. As long as i can remember i have always told my self i would never work for a boss for the rest of my life, and that one day i would become my own boss. i grew up single mother , no father figure, and low income. so the "struggle" was and still is a constant reminder of how important making it to the top really is to me.

Now that you have a brief background about my self, let me jump into the fun stuff:

Back in July of 2018 . A family friend introduced me to one of his good friends who is a investor. come to find out not only is he an investor, he is also a licensed real estate broker from california who moved out to las vegas several years back . I was able to exchange contacts with him, and im sure we all knows what happens next. well if not, i was convinced to invest into the las vegas market. Multi family vs single family was a choice i had to make, and if las vegas would even be a market i would consider. At the end of the day im all about making money. investing in MFH gave me more cash flow compared to SFH, so i decided to focus my interest on just that. Next i had to do some research on the market . I found out that LV not only has property for much cheaper then CA ( go figure huh) Lv has a lot more tax incentives, and Nevada is a land lord friendly state.These are all green lights in my eyes. let me not forget about all the new developments going on present time. my price

is now a good time to invest? How is 89108 zip code?  what should i worry about? what areas to avoid? what areas to buy in? any news i can use? will the rates becoming higher effect the market? my price range is 320-380k.

I will update you guys with my progress, currently I have a agent who i am working with. I have a couple of 4 plex options on the table . and a offer currently pending.

regardes,

-Maurice