All Forum Posts by: Michael S. Helton

@Fe Hendricks I apologize...I answered this one in my head, but did not reply here.  There are a number of transition border areas.  For example, Wells avenue used to be a blighted area, but the city has spent a great deal of time and money improving it, and properties to the West are climbing in price like crazy because one of the hottest areas in the region (Midtown) is pushing into it.  I just bid on a property that had sold for $200k in 2013 and a $350k all cash offer didnt even make it to the final round.  The east of Wells used to be lower end housing, but we are now seeing prices and quality increasing as people are priced out of midtown.

Sutro is another area that is still lower class, but with the Phenomenal growth of the University of Nevada, Reno, the area East all the way to Sutro is turning around.  I would still be careful here.

Give me a call when you are in town and I will buy you a coffee...and bring a map!  Pm me.

@Fe Hendricks Yes, there are investment properties available.  A few are on the market...a few more are off the market available for those who know where to look.  I have walked half a dozen in the last week for an investor.

@Milo Jocson Next time give me a call!  There are investment opportunities of all grades available.  The inventory is low, but opportunities are there.

@Calvin L. Send me a message if you want to put our heads together.  I am a flipper, local long-term investor and have my Nevada Real Estate license, so I have access to a number of local resources.

@Jonathan Orr Dont forget South of the industrial center!   Silver Springs/Dayton is actually closest.  I am doing a flip out there and there are also some good sized developments in progress.  To the North of Reno Stonegate is a very interesting development because it is targeting working class families with a master planned community at affordable pricing.  I know the developer and he has some amazing ideas.

@Jeff Chen  Did you make it up to Reno?

I would be interested in hearing more about this project and would be happy to share my thoughts.

@Kale Brock Great info, ty.

@Dawn Holley I sent you the guy I use.  Feel free to call or message me directly with any questions.

@Devin Montesano There is a monthly meetup, Cultivate group, and Realtor Assoc group.  Check the Northern Nevada forums here for the info.  Or message me directly if you would like to have coffee and discuss.

Any updates? @Jon Lee

@Tim S. lots of variables, but should only be around $25-$35/month for this valuation in Reno.  

@Byron Lane I think that is a good price.  I do most flooring myself, but prices for install (not including materials) when I do sub out the work are around $1.50 for laminate (stairs are extra because of all the cuts).  For tile it ranges from $3-$8/sqft, depending on the pattern and type/size of tile.

If you are confident in the quality of work, I think that is a good price.

Q12017 Reno Rental survey.

My executive summary:  Unemployment continues to drop while job growth continues.  Rent increased 4.42% and vacancies dropped to around 2% (closer to 1% in some areas).  Construction of new units its underway but there is a current shortage, and for at least the next 2 years new construction will not be able to keep pace with demand.

http://jpgnv.com/wp-content/uploads/2017/04/Q1-ApartmentSurvey2017.pdf