All Forum Posts by: Michael Robbins

@Leora A. I would proceed according to what your lease reads.  

I have personally continued to invest in SFH residential properties. Specifically the Henderson-Green Valley Ranch area. I purchased a single story home that needed some work. After all the renovations I should be able to get about $300-400 more per month out of it. I do not see anything wrong with buying now so long as the investor has a significant safety margin to deal with a potential storm.

@Lauren Hulsman If you run their credit it should list open and closed accounts.  The screening I use also includes balances on credit cards, auto loans, etc... What can help a ton is having a list of your minimum tenant required qualifications.  ex: minimum income 3x rental amount, minimum credit score, etc... Ensure to follow all fair housing. 

@Lucas Gibson I would consider working as a leasing agent for a large and reputable management company for 1-3 years. The larger the property or portfolio the better. This is the fastest and most effective way to learn about property management.

@Alexandra West your State laws will have specific direction on how to proceed when a tenant has not provided their forwarding address. It should be relatively easy to pull up online. I would rely directly on that.

@David Plaunt if you have not already, check on any of the disclosure paperwork the seller would have had to provide the buyer during the course of the deal. Does it specify or allude to the property being tenant occupied? If the requirement of the property being vacant is not in your contract then I would focus on if it was disclosed. The sellers greatest liability is typically not disclosing information to a buyer. Here in Las Vegas we use the Sellers Real Property Disclose form. I’m sure you have something similar.

@David Apolinario I have not managed or invested in any rental homes where the rooms are rented out. But In general I do believe Las Vegas and Henderson remain a good rental market. There is certainly strong demand and a lot of new development in different parts of town. I personally invest in Green Valley, Inspirada, and Anthem. I manage and assist people in buying all parts of town.

@David Apolinario if you have not lived in Vegas before you might consider renting for a few months to get to know what area you want to invest in.  The triplex and fourplex units here are generally older and more involved with maintenance.  

I would find out if the seller was aware of the problem and if it was not disclosed during the purchase.  You might pull permits to see if any work on foundation has been done in the past.  In my opinion the key is determining if the seller would have been reasonably aware.  

You might consider Karsaz Law or Southern Nevada Eviction Services.