All Forum Posts by: Rachel B.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $220,000
Cash invested: $60,000
Sale price: $545,000

Purchased as a buy and hold - sold 5 years later and doubled investors money.

What made you interested in investing in this type of deal?

I am an active real estate agent always on the hunt for a good deal or strategy.

How did you find this deal and how did you negotiate it?

Referral from another agent.

How did you add value to the deal?

Negotiating and marketing the property.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Dave Chamblee - Black Mountain Home Loans

Wow! I love these and would purchase one to add on to my house. I'm sure people would buy for a quick casita add on! Or stand alone housing. You could put several on a lot...

Investment Info:

Small multi-family (2-4 units) hard money loan investment in Las Vegas.

Purchase price: $393,000

4 UNIT HIGH CASH FLOWING PROPERTY

What made you interested in investing in this type of deal?

I was the Buyer agent on the deal

How did you find this deal and how did you negotiate it?

The client was using a different agent but calling me weekly for advice once the deal starting going bad. Client was doing a 1031 Exchange to purchase property so it was vital to him to NOT PAY TAXES or defer them. The deal was not executed and the contract was cancelled. I came in a revived the deal and got the client a hard money loan because he was not able to secure traditional financing. There were many twists and turns to this deal.

How did you finance this deal?

We shopped around for a Hard Money Lender with favorable fees.

How did you add value to the deal?

Negotiating and leverage different resources such as a very creative lender.

What was the outcome?

We closed and all tenants are paying rent!

Lessons learned? Challenges?

The lesson learned would be to chose your agent that represents you wisely and make sure it is someone you can trust to help you make hard decisions.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Lender Dave Chamblee - Nexa Mortgage

I disagree. One visit from your home warranty and it has paid for itself! Owners who are out of state or do not have time to find and facilitate repair requests from tenants.

Exactly!!! Yes they have contacted me !!

CANCEL MY MEMBERSHIP BIGGER POCKETS!!! I have requested this twice and keep getting charged anyway!!! 

Yes I agree but that is the RISK you take with any sort investment. I think there are all types of scenarios for someone to invest in a Short Term Rental property. It could be a second home for your family and then, rent it out when you are not using it. Or someone who is in Vegas seasonally like a performer, or athlete. A traditional rental here is not a bad idea either considering the Explosive Rental market!

Thank you for continuing the discussion!!

Hello All!

I thought I would take time and post the new rules for the City of Henderson Short Term Rental situation. If you didn't know Henderson sits directly next door to Las Vegas where Airbnb is practically outlawed!

Henderson has Major corporations such as Levi Strauss & Company, Ocean Spray, Ford Motor Credit, Toyota Financial Services, Good Humor-Breyers. The Raiders headquarters is also being built in Henderson is only a few miles south east of the strip - 

Some of the New rules include:

1. Annual $820 registration fee

2. Owners will also be required to take a class

3. Pay for insurance 

4. Provide proof the HOA allows (most wont allow - so property will need to be located in a HOA free neighborhood)

There are other requirements but these are the main ones. This is an exciting opportunity for investors!

Hello! @danielrongo

I have an Airbnb in Paradise - makes great revenue ! Current regulations state owner must occupy property as well as short term renters with the exception of the Condotel. There are 5 high rises on or close to the strip where Airbnb rentals are allowed and guests are checked in by the hotel and allowed to use the hotel amenities as well. These Condotels are great ways to make passive income and you can stay in them when you visit Las Vegas as well. Otherwise I would recommend purchasing a condo in an area like Summerlin where the traditional rental is in demand and you will get a great ROI on your investment!

Hi Juan 

I work in the Las Vegas area and would like to send you listings in my area - there are definitely cash flow opportunities. Our rental market has exploded...