All Forum Posts by: Phillip Dwyer

Geovanni,

As mentioned in earlier posts, I would call a few pros to pick their brain. You can start with real estate agents for free advice. I recommend you hire an appraiser. You can ask to have the property appraised as-is and as-repaired. When you are the client, you can ask all the questions you want regarding how the analysis was performed, comp selection, etc. Make sure you actually read the report and not just the number at the end. Be up front with the appraiser that you are a new investor looking to learn more about how appraisals work and your market. Most good appraisers enjoy talking about what they do, and are happy to help.

Peter,

If you haven't found a good attorney yet, I'd be happy to introduce you to a couple of quality professionals.

There are several condos listed 20-30k around the UNLV area with potential rents of $600.

It looks like you're asking the wrong questions. How have you selected your previous PM's? Did you put in the same amount of due dilegence selecting your properties? Referrals and testamonials go a long way. You should be contacting other investors in that area, and ask them who the reputable PM's, contractors, Realtors, etc are. I wouldn't just start by calling numbers from the yellow pages. Call some Realtors, and ask who they refer their clients to and why.