9 March 2024 | 6 replies
Wholesaling, when done legitimately, is perfectly fine with many brokers including mine.
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9 March 2024 | 1 reply
One was a "steal" for the price: came with 3 TVs (including an 82") and an 8-camera security system.
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9 March 2024 | 2 replies
This includes ensuring the property is safe, habitable, and in good repair.
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9 March 2024 | 11 replies
If there are fingers, it may render the property undevelopable after factoring in the 15' setback.
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9 March 2024 | 6 replies
I had wrapped my head around residential not around commercial, But to me the deal seems amazing - you guys tell me 8000 sq. ft building7 storefronts on an active downtown street (all rented and currently have tenants)34 unit mini storage in back lot (29 units rented - the rest of the unrented are being used by the current owner)Asking price is $798,000 and owner is ok with seller financingAfter sitting with them today the owner who is 83 said he is ok seller financing and verbally agreed to $715,000 and a 4% interest rate, 30 year note, $100,000 down payment, no early payoff penalty - my lender and real estate agent both came back valuing the property as it sits at $840,000Income = Rentals ($5075) Storage Units ($1935) = $7010speaking with the owner he hasn't raised the rent on either the storefronts or mini storages for almost 10 years - looking at comparables in the area we believe we can raise the rent and storage units easily to push the income up to $10,000 a month 4 of the 7 Tenants have been there 5 years plusCost = Including estimated payment, taxes, insurance ect. would come to a monthly of = $4450that would cashflow $2560 a month at its current with the potential after purchase and rent adjustments cashflow $5460 a monthPending an inspection the property looks in good shape with little to none improvements needed at this timeA quick background I have had rentals before on the farm we own, three houses we rented out so I have some experience) My QuestionsIs this a good deal???
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8 March 2024 | 21 replies
I could of really focused more on marketing and advertising to nurses and if you can contract with the employing agencies and offer them some consistency [location and perception and price biggest factor] and have them rent directy might yield some interesting results.
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9 March 2024 | 9 replies
Even if you don't plan to sell, you'll always want to be analyzing all potential exit strategies (including selling).
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9 March 2024 | 4 replies
I recommend a community bank close to the property, to include credit unions.
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8 March 2024 | 2 replies
Factors such as age, fire protection, condition, use, coastal, etc. could result in different outcomes for the two properties.
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8 March 2024 | 0 replies
As elections get closer we will likely see consumer confidence start to become more uncertain due to the political climate and then resume again after elections are finalized.ibuyers and hedge funds are also ramping up acquisitions which is further pushing demand and lack of affordability.If/when the Feds do lower rates we will see a temporary improvement in affordability, however we do expect that small window to close quickly as lower rates will bring a lot of pent up demand back into the market which will push home values higher and cause affordability to worsen.With all factors considered here in the local Las Vegas and Henderson market we are encouraging buyers to buy sooner rather than later while they can get lower prices and seller concessions and then if needed refi later when rates come down and they have more equity.