Long term, your property is going to up in value; likely way up.

The only thing that changes is how many tenants theyre are, And how long the remaining lease is so you can rewrite the lease term for that amount of time.

Purchase price: $160,000 Cash invested: $35,000 Another 1% single family deal in a transitional area creating long term wealth

Hi @Rachelle BertumenI live and work in the Truckee/Lake Tahoe area and personally own two long-term multifamily units in Reno.

Hi Brad, I believe a 401k loan may be helpful in terms of putting toward a down payment if needed. 

Most of the bad noise right now is about downtown skyscrapers and REIT or Syndication apartment complexes where they played short term versus long term interest rates wrong.  

I was last getting terms around 5-6% for the first 5 years, then floating with prime, 20 year term. 

The city’s diverse economy, which spans transportation, healthcare, and education, provides a solid foundation for long-term growth.

If appreciation and scalability are your long-term goals, consider house hacking or saving for a bigger market later.

Does anyone know, or have a good idea, about the difference in returns on entitling & developing the land for each scenario, with final objective to sell to a builder to build and sell the structures him/herself.