[boatpi]

As you proceed further you may find out the return is not so good in Boulder is not so good. if so consider selling and buying in NLV or LV. If you elect to do this, PM me and I will give you suggestions on areas. I own a number of houses in LV and NLV, all are making $$$.

[Willy702]

I think most who think about landlording miss the real upside which is leverage. I don't see much value in cash on cash return. ETFs are better with the flexibity it offers. Only reason I remain a landlord is my properties cash flow, i get 100% of the equity growth despite having put between 5-10% down when I bought each one and the tenants are basically buying these houses for me.

Now would I take say $200k and but a house so I can get say $18k in rent payments? Probably not.

[lvmensch]

Originally Posted by Willy702

I think most who think about landlording miss the real upside which is leverage. I don't see much value in cash on cash return. ETFs are better with the flexibity it offers. Only reason I remain a landlord is my properties cash flow, i get 100% of the equity growth despite having put between 5-10% down when I bought each one and the tenants are basically buying these houses for me.

Now would I take say $200k and but a house so I can get say $18k in rent payments? Probably not.

That is always the question. Are you going for yield or appreciation. If you went for appreciation in 2008 you got wiped out. If you jumped in during 2012 you are doing great.

OP owns the property. Costs roughly 10% to transfer ownership to something else.

Might think about mortgaging it and buying something else as well...

A gross 9% however may well yield over 5% which beats a lot of safe stuff...and appreciation on top of that.

I would also agree that property in Boulder City is not optimal but small places may do OK.

[BBMW]

Not if you're smart about it.

Below is a good source of info on the subject.

https://www.biggerpockets.com

Also, find local RE investor meet ups for good networking.

Originally Posted by Buzz123

Yes, it can be that bad.

[xusafpilot]

I was fortunate to purchase several foreclosed homes at rock bottom prices during the crash. The location was in the NW part of town. For my situation, my tenants were USAF personnel and they make great tenants. You must break the lease if they receive PCS orders however. Stick with ranks E-5 and above. Officers are the best renters - for the most part. Had one fighter pilot who was a real slob.

Stay away from subsidized tenants unless you want your property completely destroyed.

[Hal Roach]

But prices have doubled since the bottom. Rents are up maybe 15%. I can't think of anyplace I've seen in LV, where I would buy to rent at less than 1% per month. .5% means it would have to be in a place where land is va!ued by the square foot, and the structure will likely be bulldozed in the next 10 years. No HOA community is going to offer that, and the planned subdivisions in HOAs will always be duplicated. It looks like a golf course in your HOA may be the new scarlet letter. The biggest positive on LV is people fleeing California, in droves...but it is unlikely to be families as the schools are notoriously bad. And where are wages headed? Maccau? Your local Indian Casino, or simply the Internet.

[ragabnh]

I would never invest in rentals without property management, they know the business and it is too much of a hassle to do it on your own.

I own such a property and very happy with my decision.

[Hal Roach]

Property managers have their own bag of tricks. Hogging commissions will be the first you may encounter....meaning they will place a much higher priority on them finding your tenant, than letting the MLS work its majic. I what is basically a gas station REIT a year ago, and it was up 60%, inc dividends last year; GTY....others I have played are CBL, NRE, AHH, IFGL, XLRE, and GNL. Some pay monthly. If you are a Fidelity customer you can trade IFGL commission free. Or look at the REITS in XLRE or IFGL. If the market crashes, these will generally go with it, but look how much easier it is to make a quick exit.

[SportyandMisty]

OP, when you are a landlord, you are operating a business.

Do a thought experiment for a moment. What if you inherited, say, a clothing boutique? Or a pet store? Or a window shutter company? Or a plumbing company?

What would you think about operating those companies? Sounds like work, right? Well, when you are a landlord, there is a lot of work as well.

The difference is most of us have been tenants at one point or another, so we think we know what it takes to be a landlord. We think it is a low effort gig -- just select tenants and let the rent checks flow in.

There is much more to it.

[ddrhazy]

If you have ANY investment option that gives you a 5% return YOY, sell the house and put the money in that. Whatever the house is valued at right now, the rent is probably not giving you better than 7% return before you figure in tax/insurance/maintenance/vacancy. After all of that is figured in, you'd be lucky to get 5%.

Everything that everyone above is saying is true. Being a landlord can often be very hands on. You are dealing with tenants who are abusing every part of the house from the window treatments, appliances, floors, paint and your landscaping. You are also dealing with contractors who will do sub par work and if you do not have a thick enough skin to negotiate estimates, your rent money will quickly evaporate due to maintenance.