All Forum Posts by: Noelani Neil

IN NEED OF ADVICE/SECOND OPINIONS

There are 2 properties for sale in my area going for the same price. They are both the same bedroom, bath, and square footage size. Both owned by the same couple. They are both tenant occupied so I guess my questions are: 

Has anyone ever bought a property with tenants already living there and how did that work out?

Was the transition difficult?

What kinds of questions should I ask if I go look at the properties?

Pros/Cons?

Did you have to ask tenants to pay more in rent? If so, how'd they take it?

Was there any remodeling involved and if so, were the tenants willing to relocate until finished?

I have loads more questions but I feel it would be a good opportunity for me to learn. I also feel it would be a great first deal for me, but only if the numbers are right of course.

What's everyone's thoughts?

Hello fellow BiggerPockets members!

I would just like to share that I have recently obtained my Property & Casualty license and now work for a Farmers Insurance Agency. If you or anyone you know in the state of NV need assistance with their properties (whether it be Homeowner, Landlord, Rental, and even Mobile Homes) we would love to help assist you & help protect your assets!

@Casity Kao and @Brian Pulaski, I offered a few days ago to the realtor but they replied immediately saying that the seller was firm on price. But in the records it shows he owes $234,000 from a refinance. They were selling for $210,000 but are now trying to sell for $205,000. There are lots of rehab costs that need to go into the house but I don't think the seller or realtor realizes it. I don't believe it is a short sale because it has been on the market for about 120 days now, and is also not listed as such. I just think the seller is very set on his price in order to pay his dues.

Hello @Christopher Bavaro, I am also in the process of looking at a flip. I was curious, did you ever follow through on a deal? And if so, how was your experience? I too am looking for advice on how to approach this financially as well as how to strike up a deal based on the condition of the house. But I know absolutely nothing on the costs of rehabbing. Just curious with someone who was in the same spot as me :)

Wade Ausburn with ERA Brokers Consolidated is a very thorough Real Estate Agent. I can send you his contact information if you would like. Regardless, I hope you find great business here in Las Vegas!

@Terry Lao, thank you for the article! Its very helpful!

Aaron, thank you for your reply! If you don't mind me asking, is there a reason you say only Summerlin? I am new and don't have much money to begin with and I know that area tends to be in the higher price range. Just curious.

How do I go about offering on a house that I intend on flipping/selling? I am new at this so not 100% sure of what I'm doing. This place has a lot of potential and has been on the market for a few months. I ran the numbers on the Flipping calculator and it seems to be very profitable, but only if the right offer goes through. What would be the best way I could offer on this house if the person refinanced and still owes more than the selling price? I don't want to offend the person but also need to make a profit. Help!

My name is Noelani and I am fairly new to Bigger Pockets. My boyfriend has raved about the site for months until I finally noticed how beneficial this could be for our lives. He bought me the Rental Property Investing book by Brandon Turner and I couldn't put it down. I haven't even finished it because I'm so ready and excited for this opportunity! I live in Las Vegas and am not sure where to begin. Does anyone in Vegas or anywhere else have any advice for a new comer in this profession?