All Forum Posts by: Omar Merced

I have a couple depending on needs. I sent you a request.

Hi Jeremy. Lots of good advice here. Interestingly, I'm actually doing it right now in Ohio. I've identified the markets, took a trip, met some people, looked around, and made some offers. I will be traveling back in a couple of weeks to repeat the process until I have at least 200-300 doors in each market. I look for cashflow but everybody has their own niche. And that's what is really important. Finding out what your goals are and the time you have to dedicate to it. The more involved (to a degree) the more you make. I do this full time. It is my sole source of living so I have all the time to do it. Some people don't or want that luxury. I picked my markets because I can find many properties that meet the 2% rule. I am happy, my investors are happy, and we all make money. Whatever market and team you choose I always recommend you go visit and make sure it is what people are telling you. Also, just as a side note if that's not your cup of tea I am a believer that crowdfunding will be an amazing tool that will allow smaller investors participate in some major projects that are usually limited to accredited investors. 

Hi Hang. I love when someone post a message that creates a frenzy. Like sharks smelling blood. Bottom line learn, talk to people and then do something. Me, I love multifamily and I don't think anyone will ever be able to get me away from that but I'm sure that there are some really smart people out there that could argue for hours on why I am wrong. And I wouldn't care because I've chosen my path. To me the numbers (almost) never lie. That being said I look at the markets that provide the best return for my money. Right now thats the midwest. I just came back from a trip to Ohio and I loved it. So'll I picked up a 17 unit that I'll be repositioning and picking up 200-300 units by the end of next year. After that who knows I'll cross that bridge when I get there. All said, you have a great problem to have. Good luck

The judicial system here is pretty straightforward. If it's true what the landlord is doing he is in trouble. If he doesn't give an accounting in writing to the tenant by the 30 days he can get charged treble damages. Just the carpet statement the judge will laugh at the landlord. That being said in the 11 years here I've never needed an attorney for evictions so I don't even know one. Here is a link of the Nevada Revised Statues and one to a non-profit that handles tenant-landlord issues. I've referred people to the legal aid office and they usually scare the landlord to act right. Good luck

NRS

Legal Aid Center

HI Fransisco. Welcome to BP. I love this site. For years I thought I was the only crazy one. Now I know there are so many more. What is great about here is that there is an expert in almost every category and not only one but at least a dozen in each niche and each market. I'm an advocate for the local meet ups so make sure you try to get out to as much as you can. If  you have any questions feel free to reach out. 

For all those people that don't know about Las Vegas famous pig farm it is a farm that had been there way before the boom and there was no-one living around it. The surrounding area was built up and then everybody started complaining of the odor. The news of it being up for sale has created a little bit of relief to some and opportunities for some builders. Now to your question. It depends if you have the stomach or nose for the long game. If so, then yes, however with the news of the pig farm being for sale the surrounding areas have already increased in value. Combine that with the Faraday deal and it looks like this area might make out to be a decent area for growth. That being said the stigma that North Las Vegas still has and will have for quite a while not sure how this will play out. Just my opinion and you get what you pay for. Here is a link North Las Vegas Pig Farm

Hi Lygia. I'm actually in Ohio right now looking at three markets. Cincinnati, Dayton, and Columbus. All I have to say is wow. Coming from Vegas where deals are few and far between to seeing the plethora of deals out here is so amazingly refreshing. I just put a 17 unit under contract. I will be making regular trips out here and I am looking for the right teams in the markets we select. And, honestly that is the biggest focus of my trip. Finding the local experts that are willing and able to lend their local market expertise so you can be successful. I've learned in the past that all those super cheap properties that are listed in the MLS are usually still overpriced. I am super excited what the next 12 months is going to bring. My plan as of right now is 200-300 properties over the next 3 years. My strategy is buy and hold for cashflow. Good luck and let me know if I can help in any way.

Hi Michael. Headed to Ohio to look at some deals this week. I'm going to PM with my contact info so we can talk. 

Hi guys. I've started my marketing campaign here a few months back starting with a few thousand letters and am seeing some results but nothing good enough yet. When we come across something I'll send out.

Welcome Kenneth. Hope to meet you at some of the meet ups. Good Luck