Like Bob said, these 'edge' areas are where investors without local insight can get into trouble.At the corner of Ohio & Potomac you're right on the edge, but I think being toward the east end is better than the west end where the investment peters out closer to Gravois.

I haven’t even mentioned when huge influxes of people come to Vegas for events like life is beautiful (downtown), EDC( up north, so I’m closer then any strip hotel).

The owner’s wife decided he needed to get a life and retire from owning the property so he could travel the world with her and live closer to their son in Washington.

After initial inspection, he came to me said the most he could purchase for is $660,000 given the conditions & ARV

Hey BP fam,I just received my very first inspection report on a triplex.

Hey BP fam, I just received my very first inspection report on a triplex.

I have read that REO property are very strict on inspection contingency is this still the case or have anyone seen different?

We negotiated down to 60k cash offer with me paying all inspections and closing costs.

Check the events page when it gets closer to time.

Asking Price 215000 Primary Inputs Purchase Price($) $ 190,000.00 Downpayment(%) 3.5% Units(#) 2 Monthly Rent($) $ 1,150 Occupancy Rate 75% 30 Year Loan Rate(%) 4.50% 15 Year Loan Rate(%) 3.90% Secondary Inputs Closing Costs(%) 6.0% Property Tax(%) 1.8% Insurance(%) 0.8% Maintenance(%) 10.0% Property Management(%) 10.0% Improvements($) $ 20,000.00 Closing Costs($) $ 11,400.00 Inspections/Misc($) $ 600.00  Value (30-Year Mortgage Scenario) Monthly Rent $ 1,725 Annual Rent $ 20,700.00 Value Per 2% Rule $ 86,250 Value Difference (2% Rule) $ (103,750) Annual NOI $ 13,800 ROI (Pre-Tax) 8.36% ROI (Post-Tax) 8.1% CAP Rate (50% Rule) 7.3% CAP Rate (Assumed Expenses) 6.0% Annual Expenses Annual Property Taxes $ 3,420 Annual Maintenance $ 2,070 Annual Insurance $ 1,520 Property Upkeep/Other $ 200 Property Management $ 2,070 Total: $ 9,280  30-Year Mortgage Results Money Down $ 38,650.00 Monthly Gross Rent $ 1,725.00 Monthly Loan Pmnt $ 929.01 Effective Rental Income $ 20,700.00 Annual Loan Pmnts $ 11,148.09 Annual Expenses $ 9,280.00 Total Expenses + Loans $ 20,428.09 Annual Cash-Flow (Pre-Tax) $ 271.91 Annual Return (Cash-Flow + Equity, Pre-Tax) $ 3,229.76 Annual Post-Tax Cash-Flow (Pre-Tax) $ 190.34