All Forum Posts by: Bryan Christopher

@Phillip Dwyer, thanks for the input... great info on the apt. conversion situation. I've seen multiple units for sale over there, and it's just one area that interested me... because my suspicion was that like you said, it might be high demand. It's 8 miles from the mall, and close to a lot of potential employers. This is just the kind of location I'm hoping to find, as Summerlin itself is probably a little rich for my blood for a first rental. Any other suggestions of areas to look, definitely appreciated. 

Hi all...

I'm looking to build my own rental template that's very general to help me quickly run numbers on potential properties. FilePlace has some great forms... though all a bit more advanced and as far as I can see better suited for a top to bottom purchase assessment, etc. 

Basically, I'm wondering what you all have on the expense side of the ledger when you figure your monthly outgo.

So on one side... rental income. 

On the other for example: 

-Principle Payment

-Property Taxes

-PM (If used)

-HOA (If applicable)

-Monthly maintenance expense (XX.00 per month est.)

-Misc Utilities (If any incl.)

-Pool/Yard upkeep (If applicable) 

Etc. 

As a first time rental property investor, I'm basing a lot of my list on my experience as a renter and a homeowner, along with things I've learned here. But, I'm looking for those hidden or potentially forgettable expenses. I'm sure the pros here can run these in their head after a while. But... wondering if anyone has a written template, post they recommend or thoughts on the issue?  

Hope the question made sense. Thanks!

Hi Jamie, 

Would be interested in hearing that as well. I'm preparing to selling my primary, and looking for a new primary in the east valley. (Burbank area.)  The market is a zoo out here. Low inventory, low DOMs and bidding wars. Feeling very frothy here again. 

I'm a newbie investor and will be looking out of state for my first deal, as I can't seem to find price/value that makes sense here. But, I'm sure there are some savvy people here making money into this blazing market. I'm just not sure how you come by the props at this point...

Excellent stuff Michael. Henderson is also intriguing. And hell yes, the contractor list would be fantastic. Thank you! (Will PM)

I've been hoping/speculating that the Downtown Sunmerlin mall (and Red Rock of course) would keep occupancy high in and near Sunmerlin.  I'm hearing the mall is really picking up.  Will be interesting to see how it does in the summer months. It's mostly outdoor apparently.  

Hi Phillip, 

What's your opinion on places like Desert Shores? Price/quality/potential tenant type, etc.? 

Do you feel like any of the surrounding (border/adjacent) areas there make for an interesting search area? 

Any feelings on condos v. SFRs for a starter prop? I've been leaning condo due to price, potentially less maintenance to get started. 

Will probably drive out next weekend and get my feet on the ground for a couple days. 

Tiger, aside from the broken crystal ball... excellent info. All things I will consider. Thanks for the invitation and I will keep your contact info on file. Appreciate it. 

Very good, Tiger. Taking all of this in. 

Knowing the area, do you think equity-driven investors are going to do better than cash-flow investors over the next 5-10 years?  (Strategically.) I assume equity-driven investors are doing 15s and cash-flow 30s? Any other major differences in the strategies? 

Thanks for educating...

Thanks a lot, Tiger.  

The SFRs on the outskirts... what price-point are we talking about?  Of course the condos are appealing from the standpoint of having a sub 150 entry price, or sub 100 in some cases.   

My longer term goal is to build up a number of cash-flow rentals, with an eye to being able to have it supplement or replace my main income within a decade. (I make a nice living now, but my industry is somewhat transient and I have long wanted to put work into building a real estate portfolio.) With a full time job and capital tied up, starting has been the hard part. But the timing feels good to start... slowly. 

I'm going to speak with One Nevada on your recommendation and see how their programs work for out of state investors. 

Great Cal, thanks so much.  OneNevada was mentioned on another thread, which would seem to fit the bill. I'll likely start making inquiries and contacts at a  few of these and get more feedback once I have some general ideas of their programs right now. 

Hi all, 

Quick one here...  looking into getting the basics together to shop for my first deal on a rental prop. I'm in CA and am looking primarily in Las Vegas, NV at the moment. (May expand that search but this is a starting place.)  

For those who have done deals out of state, or perhaps even started that way... what would you suggest doing with regards to financing? Search for local credit unions? Get pre-qualified?  I have down payment cash (or will) and good credit. Of course, I'm open to being creative but like all of you I want to lay out as little cash at the best rate possible to get started. I have a traditional mortgage, a credit union and multiple bank accounts... but all here in CA. 

Just wondering what foot you would step forward with, regarding this search...

Thanks!