All Forum Posts by: Michael H.

Thanks for the perspective Chinmay. I'll certainly take that into consideration. I'm not sure the area my property is in would qualify for anything of the things you mentioned. It does have a killer view of the strip, but with all my family in Atlanta, I don't see myself moving back to Vegas anytime soon.

Thank you for the reply!

Honestly, my annual ROI on the LV property is really low around 3.5% because I really had no idea what I was doing when I purchased the house. Now that I have more knowledge, I should be able to easily beat that ROI.

I've tried to account for the expenses of purchasing new properties. Using like kind exchange to avoid capital gains, my mom is my real estate agent so I get a break on those fees as well.

I have a property in Henderson, LV I purchased about 5 years ago. Cost 187k (put 37k down). Currently getting $1150 for rent, which is at least $150 below what it should be. My property manager lives there so they only charge me 5%.

I'm considering selling the property which is now worth somewhere around $260k and use the money to purchase 3 other properties and start my snowball strategy. My other option is to hold on to the property and just up the rent to fair market price. I feel like holding on to the property is like leaving $120k in the bank and not working for me.

Any advice would be appreciated.