Las Vegas Real Estate News

Is There A Correction Coming? 

There are a bunch of other links, reports and stuff in that link that support my conclusion.

2019 could be the year you unload your property in Las Vegas. I have been preaching this for some time now and here is an excellent web page that adds more validity to what I expect. We don’t anticipate the crash to be as devastating as the last one. There will probably be between a 20% – 30% decline in value. It’s not a total disaster if you don’t get off the train before it crashes. You can always wait for the next station that will come along about 2033. That’s about when Barb and I will get off. If you want off this gravy train now, we can help you. Tenant occupied or not, we know how to get the most out of your property. If you have been with us since the last crash, you know we are here to maximize your investments.

Then what? Everyone has been asking me “What do I do with all that capital gains?”. If you get off now, you can pay your capital gains taxes and put it in something liquid so you can reinvest it after the ambulances have finished carrying away all the dead bodies in 2021.

  1. Invest In Short Term Real Estate Loans – Real estate loans are my favorite because they are secured with collateral. If the borrower doesn’t pay, you get the house back. Our preferred vendor here in Vegas is Skip Reuger but you should do your own homework. It’s best to stay within your geographic area so you can keep an eye on your collateral. For the record, we don’t make money on those referrals AND lending is not our core business. No one will be able to give you an exact date when the next bottom will be. We are predicting in less than 5 years so don’t make your loans longer than that.
  2. Offer Hard Money Loans – There are all kind of folks out there that need short terms loans for vehicles, home improvements and solutions to “country western songs.” Put the word out that you are willing to lend money and people will swarm to you. Make sure you can secure collateral and get it in writing!! Drives me crazy when people call me with a default with nothing in writing.
  3. Jump Into The Stock Market – Good luck. I am the least knowledgeable in this area of investing. We have had success sprinkling a little bit every month on a variety of mutual funds. Consult your favorite financial advisor.

Need help? It’s easy. Call or email.

2018 Annual Reports 

1099s have been mailed out and your annual report is in your owner portal. IF you have not received your 1099 by Monday, February 11th, please let us know and will send you an electronic version. We sincerely appreciate your business.

Expired Contracts 

We have been reaching out to all the tenants with expired leases and increasing rents. We will also be cleaning up a lot of our files with updated property management agreements. There are few clauses in those agreements that do not conform to acceptable practices. Don’t panic when we reach out to you for an updated property management agreement. Our terms are the same and you can quit anytime.

Inspections

We have started doing annual inspections as I feel that’s a part of the business that’s been below standard. This effort is to reduce damage due to leaks, water heaters bursting and air conditioner filters not being changed out frequently. The results have been excellent as tenants are making sure their property is in order and we have found some issues. If you have questions about this, contact your property manager.

Home Warranties

If you have a home warranty, please do not renew it. We lost another tenant last month because of one. They are not worth it. If you want to learn more why you should cancel it, go here.

Lease / Options Have Ended

In case you didn’t get our last broadcast, we ended our lease/options about a year ago. This broadcast goes into more depth.


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