All Forum Posts by: Michael S. Helton

You might also check out the meetups here in town.  I would post, but BP mods dont usually like it when we do.  Check Meetup and facebook.

@Steve Lopez Welcome to BP!

Your request is usually a sticky one.

The short answer is "Yes". 

Yes, there are profitable deals being made.  However, it is a tight and competitive market.  So, finding someone to share secrets or systems might take some work in this environment.

I would suggest you spend the time researching the market (focus on price/sqft in Reno) and construction costs.  Knowing the numbers is crucial to success.

@Justin Otero Good luck Justin!  I had a very successful remodel/flip in Dayton.

@Garrett Brown if you are looking to buy out in Fernley, do research on the water situation.  I have heard things are getting tight.

I actually prefer to do it myself (with my team) for two reasons.

First, one demo mistake can be incredibly costly.  Water + electricity + cheap labor and Sawzalls = bad.  

Second, the walls speak to you during demo.  Telltale cracks, old, poorly done renovations and patches, original construction defects, water damage...they are all information which helps me adjust my build plan if needed.  If you just walk into a clean site, you can miss all that.  @Account Closed

@Brian Moore Build relationships with the brokers in town.  They get the Seller and Buyer commission if they list it AND bring a buyer to the table.  Why would they give up a 3% commission when they already have buyers (such as you) in their pocket.

I do not think it is very ethical, but it IS legal in Nevada.

@Kyle Miller Rarely. Lots of back room deals happening at the brokerages before it hits the MLS.

@Bradley Cladianos It is not an impossible market, but one where you have to be willing to make a sacrifice.  The prices are going up but the historically low interest rates are attractive.

Investing as an owner occupied is very different than flipping and does open up a few more avenues for you.

@Ivana Gojkovic the numbers on the link you provided are generic.  Expect Reno, Nevada to be on the high end of most of those costs because of the labor shortage and premium Real Estate prices.

@Eric Ferreira You must have your license parked in nevada as an agent.  There are massive differences in the brokerages:
-Some want monthly fees, huge chunks of your commission, training fees, etc.  And some want nothing other than a fixed fee per transaction. 
-Some have high accountability and others are completely hands-off.
-Some will spend hundreds of hours training and testing you and others will just throw you in.
-Probably most important, some will give you leads and on-the-job coaching, while others offer none.
So interviewing brokerages is vitally important and should be done BEFORE any training or investment in my opinion.