Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Stacey Michaels

Stacey Michaels has started 2 posts and replied 7 times.

Post: How to choose a neighborhood?

Stacey MichaelsPosted
  • Posts 7
  • Votes 3

Thanks Abbey! I’m not actually looking for another market, just possible neighborhoods, but you are absolutely right. Keeping on top of regulations etc is important. I’ve had friends run head long without getting informed and seen the results. No thank you. 😬

And the regulations certainly change a bit by neighborhood here, development fees and limitations, different HOA rules , and so on.

Post: How to choose a neighborhood?

Stacey MichaelsPosted
  • Posts 7
  • Votes 3

Thank you. I did not know about the differences in appreciation on the older homes versus the new build. That explains a bit. 

Post: How to choose a neighborhood?

Stacey MichaelsPosted
  • Posts 7
  • Votes 3

This is all so helpful! Thank you. 
i laughed at the map. The very area I’m wondering about is conspicuously lacking any investments. 

I’m very curious about something. It was mentioned that new builds are going for almost the same price as the older houses in the less desirable areas. I have noticed this as well. 
What might be the reason for that in your opinion?

Our property manager says its location, but your examples of demographics would suggest otherwise  

Would love to hear your thoughts on this  

Thanks

Thanks for the response. I actually didn’t realize this would post. I thought it was just part of my profile 🤷‍♀️. Live and learn 😁

Post: How to choose a neighborhood?

Stacey MichaelsPosted
  • Posts 7
  • Votes 3

Hello BP, I am new here. I am in Las Vegas and I would love some experience on how to choose a neighborhood to flip homes.

I am very tempted to begin in the neighborhood I grew up in because it has gone downhill over the decades and needs attention. It was built in the mid 60's.  About every 10th house has been kept up or rehabbed. The other 9 are terrible. But they are STILL at a price that surprised me. By that I mean high for the area.

But I suspect the smarter idea is to start in the newer places, 80's or 90's that probably requires less work.

Any advice/experience is welcome. Thanks

Investment Info:

Single-family residence buy & hold investment.

Inhertied a house

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

I have always been interested in building security/wealth through real estate. I never had the means/cash to push forward and didn't understand the lending process enough to jump in. Then I inherited my mother's house.

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

See above

How did you finance this deal?

again, see above

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

Found a great Property manager, Shelby Henning with Keller Williams in Las Vegas. She has been terrific.

@Eric Fernwood Thanks for that. I am new to the BP and in the LV area and this was very useful.

Thanks