Las Vegas Real Estate News
Multi Family Properties
The performance of these properties in our portfolio are not tracking our predictions. Unexpected random plumbing expenses and vandalism are killing our investors. Therefore we are urging our current investors to unload their mulit family properties as opportunities present themselves. The good news is that most of these have appreciated to the point where our investors will walk away with a tidy profit. We highly recommend doing 1031 into single family lease/options or commercial retail. By the end of this year, we will only continue to manage a few multi family properties that are printing money.
You may have noticed that we have zero inventory in our lease/option portfolio. The biggest objection most investors have is that they could be forced to sell their property if the tenant/buyer performs. With actual purchases occurring under 10%, investors stand to make more than a typical return. Average single family returns on cash are standing about 6% while lease/options perform at about 11%. If you combine a mortgage on a single family lease/option, returns come in at about 16% and that doesn’t include appreciation. We expect appreciation to hover at about 5% annually for the next few years. There is no better return on cash in Las Vegas than getting a loan on a single family home with a lease/option. Our lease/option properties typically move within 2 weeks because we have 4,200 tenants subscribed to mailing list.
Here is the top 10 properties you should consider purchasing for lease/options.
Important Property Management Info
Web Site – Server Change – We were forced to switch providers for both our web site AND our database. Our old provider was going out of business and had the courtesy to give us a 2 week notice. As you can imagine, this was no easy task. Our web site has officially moved but there are a lot of broken links and issues that we are hammering out. Please be patient as we get those links fixed.
Electronic Rent Collections Changed – As if we didn’t have enough headaches, Intuit announced 6 weeks ago that they are no longer supporting our processes for rent collections. After weeks of research and angst, we have selected PaySimple.com as our rent collection vendor. We have already announced the change and given tenant procedures for June rent.
Agents – We sincerely appreciate your business and have brought on new agents and more staff to offer you faster tenant placement, faster responses and better service. Here are all the folks that work hard to make you money:
Recent squatter removal video.
Evictions and how they work