All Forum Posts by: Steve Morris

I build in Truckee and its now around $600 a sq ft. 

Hello, Can anyone suggest a good property management company in Reno NV who knows the university area well. 

Thank you,

Steve

If you have 5 million to spend you can buy a trailer park in Truckee that someone has done just want you are talking about and converted it to tiny homes. You can see the listing on loopnet. 

I have lived in Truckee since 2004 and the problem you would have with doing this here is getting past the town to approve it. And then the cost of infrastructure and land now becomes a big big number.  

I love this idea and have gone down this road myself but have not found a good way to make it happen. Not saying it can't be done just letting you know what I have come across. 

Hello Everyone,

I am happy to report that I finally got to take my first step in real estate investing.  I bought an investment property in Reno. 

After looking for almost 2 years I finally got a property in the location I wanted, right next to the university.

I just started renovations and have a lot of work ahead. 

I looking for any suggestions/advise with leases for college kids and how to price the rents correctly. 

Thank you in advance for anyone who is willing to help me out. 

Steve

Hello I am a new member and loving this site.

I am trying to buy my first small multi family income property.

I unfortunately don't have the capital for the down payment saved up, but I do have good amount of equity in my home. I have 250k HELOC that I am planning on using to pay for down payment , closing cost and any repair costs needed.

After watching a few webinars about how to use the property calculator and learning about taking your annual cash flow divided by your total invested capital to get your ROI percentage.

My question is when you are using a HELOC, lets say 110k for the down payment how do I calculate my ROI? Do I divide my cash flow by 110k or do you look at it as a higher ROI percentage because I am not really using my own cash?

Hello I am a new member and loving this site.

I am trying to buy my first small multi family income property.

I unfortunately don't have the capital for the down payment saved up, but I do have good amount of equity in my home. I have 250k HELOC that I am planning on using to pay for down payment , closing cost and any repair costs needed.

After watching a few webinars about how to use the property calculator and learning about taking your annual cash flow divided by your total invested capital to get your ROI percentage.

My question is when you are using a HELOC, lets say 110k for the down payment how do I calculate my ROI? Do I divide my cash flow by 110k or do you look at it as a higher ROI percentage because I am not really using my own cash?

@Angela Webb

I live in California so the prices for houses are high. I am looking at income properties in the 400-600k range so that’s why my down payment is so high.

Hello I am a new member and loving this site. 

I am trying to buy my first small multi family income property. 

I unfortunately don't have the capital for the down payment saved up, but I do have good amount of equity in my home. I have 250k HELOC that I am planning on using to pay for down payment , closing cost and any repair costs needed.

After watching a few webinars about how to use the property calculator and learning about taking your annual cash flow divided by your total invested capital to get your ROI percentage.

My question is when you are using a HELOC, lets say 110k for the down payment how do I calculate my ROI? Do I divide my cash flow by 110k or do you look at it as a higher ROI percentage because I am not really using my own cash?