All Forum Posts by: Roi Ford

Would it work as a short term rental?  That seems like a pretty unique property.  It may work to your benefit and be an attraction.  Just throwing out ideas.

Hello All, 

What are your thoughts about this opportunity? I have looked at it, but haven't decided if I want to pull the trigger.  Would like some feedback

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@Tramaine Robinson

I would tell you to pay extra close attention to the ARV and comps. Because of where the market is today, along with the uncertainty and rates, all of that will play a role in what things look like in the spring.

I wouldn't use any comps older than 30 days when the time comes to run your numbers and establish your ARV.

And some may disagree with this but slightly, and I mean slightly over improve your property. This will make it more appealing than the comps. Also study the comps in full detail so you know exactly what the interiors look like in that neighborhood. What makes the house pop, etc.

Do you already know your numbers? Meaning your price range, etc. will you be paying cash, or using hard money? Or maybe even private money? What are those numbers, fees, etc.

Just my thoughts.

Good Afternoon Lior,

Selling should be your very last option. Especially if your goal is to rent the property. You will need to contact a traditional lender, one that has non-owner occupied investor products. If you don't know any, you can start with your local bank or credit union. You'll be looking for a conventional loan, and will most likely be capped at an LTV of 80-85% for a cash out refi, so make sure your numbers are solid.

I am an Agent here in Las Vegas, with multiple contacts, so if you need some referrals let me know.  

All the best,

Roi

Hi Subhosh,

I know I am a little late here.  But I also do property management.  Let me know if I can answer any questions.  

Unfortunately yes.  Listings are sitting a little longer than what we have been experiencing over the past couple of years. Also a lot of Agents are trying to appease their Clients, by advising them to offer less than the listing price and cash in on the market shift so they can make a sale.  

Rates are also playing a role, as more people were priced out of the market when rates went up.  So, would be home buyers are trying to squeeze out any savings they can.  

Just my observations.

   

I would definitely stay away from sites like Zillow.  But one of the best places to start is right here on Bigger Pockets.  The Active Agents on this platform are going to be more investor centric, and usually possess an in-depth knowledge of real estate investing.  You can also check in Facebook Groups, Meet-up, LinkedIn, TikTok, and Instagram. You may have some luck there.  

 Well said Samuel...

Hi Kent, like Mr. Wappler, I live in Las Vegas, and I have a very intimate knowledge of the area.  89052 is definitely one of the best zip codes to invest, but you also have pockets throughout the city where prices are reasonable and rents are high.  We should chat, I am an Agent, Property Manager and Investor and can definitely give you some insight.