All Forum Posts by: Michael Coxen

Thank you, @Daniel Y. @Casey Johns, how may I help you? Please DM me. Thanks!

@Bill B. great comments

@Terry Lao adjusted for inflation, we are still roughly 8-10% below peak values, correct?

I’m very active in Las Vegas market (buying, selling, and brokering). Every single transaction I see has a highly qualified buyer with cash and/or solid credit and solid employment. Couldn’t say that in ‘06. 

What will cause the next recession? My answer (and that of several economists): anything but real estate. 

Lastly, a fun fact: in 3 out of the last 5 recessions, national real estate prices went up. Once, they decreased by 1.5%. And, once, well, we all know what happened. 

Source: Keeping Current Matters (paid subscription, so no link)

Eric, it's tough out there right now. There are billions of dollars worth of high profile projects in Las Vegas, so the quality goes where the money is. For an SFR BRRR, it will be a big challenge finding a GC in this market. I can recommend a couple, but be prepared to pay. You may need to hire your own subs and manage yourself. Not ideal from afar, but if you have someone local you can trust to manage the rehab and subs, that might be your best option. DM me if you'd like to chat further.

Hey Shiva, I don’t see many true 7 caps anymore in our market. Deeper research into them typically unveils compressed expenses and sometimes inflated rents. You’re also looking at D properties as @Alexander Felice mentioned, so be sure to budget for extensive cap ex and vacancies. There is still a flipping market, as @Louis Davis said. In the multi family space, I’m into ground-up development where I can essentially “flip” an under utilized asset into its highest and best use. 

Thanks @Thomas Bouchereau. I'd love to learn more and see how I can assist, @Jonathan Orr. Message me and we'll set up a call.

I recommend Kelly Tate or Kelly Tate CPAs and Philomena Moloney from Swecker, Moloney & Moir.

@Hakeem Valles we have some great courses here. To rattle off a few: TPC Las Vegas, Arroyo, Paiute, Canyon Gate, Wynn, Bali Hai... I'm down to play a round on 1/16, I haven't been out all winter!

@Nicholas Guy I'm happy to plug you into Las Vegas wherever I can. Drop me a line when you're free. 

@Stephan Kraus I have a great STR management company I can refer you too. DM me. Thanks.

@David Beadles these guys are right, it's a tough time to be a SFR investor, but it's a prime time to be a multifamily developer. Also, short term rentals can perform well too. Drop me a line to discuss your options—happy to help.