All Forum Posts by: Phillip Dwyer

@Sam Patel Is there a section of Henderson that interests you the most? There are lots of submarkets to consider: new construction, age-restricted, condos, SFR, town homes, 2-4 unit, ect. West Henderson is seeing the most new development. However, the Water Street district has some interesting things going on as well.

I've found that December is a bad month to fill units.  If you take into account the bad weather in our feeder markets (California cities), then it was probably worse this last December.  Traffic has picked up on all of our rental listings in the past week.  So the answer to your question could be bad marketing, but it could be bad pricing or just changing market conditions during the typically slower holiday period.

@Dana Wappler. Returns are tight throughout most of the valley. I'm seeing more "fixer" properties in MLS in my daily trolling. If you're willing to take on a big project, you could probably squeak out higher returns.

@Marko Kustudia To be compliant with NV laws, you are supposed to have a contact person within same county or 60 miles:  NRS 118A.260  Disclosure of names and addresses of managers and owners; emergency telephone number; service of process.

Regardless of that, having a property manager for long-distance ownership is really a business best practice anyway.

@Karla Relova do the math and make the offer that makes sense to you.  BTW, did you run the numbers to see if the property will cash flow if both units are rented?  It's probably hard to make it work if you're only putting 3.5% down.

A few more things to consider:

1.  How long have you owned and lived in the property?  Are there possible tax advantages to selling now versus waiting?

2.  If you decide to rent it out, are there improvements needed to make it rent ready?  Is it a good rental property: low maintenance, good layout, no obsolescence?

3.  What is happening in the area immediately surrounding your property?  Is there are changing for the better, worse, or stable?  There's a lot of development happening in certain areas of NLV.  Some of that could be a good thing long term.  

4.  A lot of people are only looking at things through a 1-2 year lens.  What are your long term investment goals?  Does this property fit into that plan?

@Joel Neidig are you looking for office or retail?

@Eric Fernwood You make a great point about it being the traditionally slower time of year for rentals.  I would imagine we'll see things tighten up even more by mid to end of January.

Redfin just shut down it's flipping arm and is laying off 13% of staff:  Bloomberg article

@Kyle S. Awesome!  Good luck.