All Forum Posts by: Michael Robbins

@John Vitta in Vegas/Henderson NV we are also seeing high-end flips.  For example, there is a house in a guard gated community in Henderson NV that the investor purchased for $1M, put about $250k into it, and is not on the market (and under contract after a few days) for $1.7M.

@Peter Morgan I have heard of the AC compressors going bad due to running them in cold temperatures.  I am no expert when it comes to AC units.  If I were managing I would schedule the "annual AC tune up" now.  Explain to the AC technician your concerns and if the tech recommends not running the AC when outside temps are under **** then have him write that up on the work order.  Then I would provide a copy of the professional recommendation from the third party AC company to the tenant.  Now the tenant is aware and potentially responsible for any damage to the unit.  

@Jennifer Farnsworth you might consider looking into one bedroom condos.  We have seen some good rent growth in the Las Vegas/Henderson market (like much of the Nation) but I believe one bedrooms offer greater upside at the moment.  

@Edward Giyo I would not touch the equity in your house to invest in a rental property unless you plan do downsize your home.  My opinion is it is key to live in a paid off house and use other funds to invest.  

@Samuel Toma congrats on the purchase.  Are you going to rent out the condo?

@Leonel Aquino This lottery is not a new home build correct?  There are lotteries and the inventory is very low so yes this is possible.

Thanks, 

@Cynthia R. this seems like a terrible suggestion.  It is best to be transparent and disclose everything.  The home being occupied by a tenant will be something that has to be dealt with if anyone has an interest in buying.  The best thing is to focus and market the home as being tenant occupied.  There are investors out there (and I am assisting some of them) that are only looking for a house that has a current tenant. 

@Eduardo Antonio Vazquez Navarro I like the one bedroom condos right now.  I do not believe the rents have caught up yet when running  comps.  But that will change quickly.  Check out Silverado Ranch, Sunridge Heights, Green Valley... 

@Rachel Guzman I think it is a good idea to have a conversation with a lender and possibly complete a mortgage application.  This way you know what you need to do to be in a position to buy.  The rates, home prices, and rental rates will fluctuate but the best thing is to put yourself in a strong position to buy when ready.  You might consider focusing on buying your primary residence first with the intention of turning into in a rental after at least the one year mark.  You will likely get a better rate as a primary residence and most lenders (double check with your lender) allow you to rent it out after the first year.  

@Mark Coltrin I first got my real estate license in 2005.  I am a real estate agent, investor (rental properties), and property manager.  Please fee free to reach out anytime to have a conversation.