Capex would also be huge on this with a ton of mini-splits. Also feel like there will be huge power and water bills with tenants not paying it unless you meter it individually. AC will NEVER stop running and people will take 30m showers.
That paying utilities would be a damn deal breaker for me...worked with a guy who lived in small home with utilities paid and he had 2 buddies living in a camper using free electric and water...they just ran extension cord and water hose.
Straining to make a thing work is something you do when you’re already stuck in it. You don’t buy into a struggle. The longterm environment also didn’t look inspiring.
I think all of these padsplit rules are super gray-area (evictions by the week, etc). Prob super high risk people here will be reclassified as LTR if they stay longer than 30d. I'd be nervous to evict like that.
That’s just crazy rehab cost and then justifying the debt cost till you raise rents is a deal killer. Imagine getting rental raised 10 to 15%. Your going to get people destroying your place before leave or worse eviction politics.
I can see it now... Pace Morby kickin ass and taking names as the new Jason Bourne! I’ll bet he can throw a mean roundhouse kick and punch to the jaw if he’s amped enough. Thanks for another great walkthrough!
Capex would also be huge on this with a ton of mini-splits. Also feel like there will be huge power and water bills with tenants not paying it unless you meter it individually. AC will NEVER stop running and people will take 30m showers.
That paying utilities would be a damn deal breaker for me...worked with a guy who lived in small home with utilities paid and he had 2 buddies living in a camper using free electric and water...they just ran extension cord and water hose.
Straining to make a thing work is something you do when you’re already stuck in it. You don’t buy into a struggle. The longterm environment also didn’t look inspiring.
Amen!
Every good REI buys into struggle and that’s why they get rich.
I think all of these padsplit rules are super gray-area (evictions by the week, etc). Prob super high risk people here will be reclassified as LTR if they stay longer than 30d. I'd be nervous to evict like that.
Great info, great editing, great solution. Keep it coming Pace team!
More to come!
Baby Elephant learning! Thank you Pace!
Love this episode. Full of gold on Flipping and Tenant Management!!
WOW ! Watching Pace go through this makes Me shake in my boots !
( not even wearing boots )
16:30 Definitely didn't expect stable diffusion in a Pace Morby video. extra points to the editor
the editing was on one 🔥
Thanks Pace and community I am learning a lot
Love this training! Already subscribed! 🏨
Vegas is full of agents try to force investment deals to work 😂
I did look at this one months ago. Been for sale forever. But too much work for me to take on.
That Jason Bourne clip being inserted into this video made me lol
Pace are you also coming to Reno Nevada?? Please 🙏
Very interesting episode. I say don’t buy it. You’re trying to pound a square peg into a round hole. It just doesn’t fit. It’s not worth it.
That’s just crazy rehab cost and then justifying the debt cost till you raise rents is a deal killer. Imagine getting rental raised 10 to 15%. Your going to get people destroying your place before leave or worse eviction politics.
I can see it now... Pace Morby kickin ass and taking names as the new Jason Bourne! I’ll bet he can throw a mean roundhouse kick and punch to the jaw if he’s amped enough. Thanks for another great walkthrough!
Do I need my RE license to be an RE investor?
no
Whoever edited this video is fucken hilarious, lol
Absolutely 💯 No!
Is there a way to turn this into a transitional housing? Corporate temp housing or something.
Masterclass 🔥
Naked City is most definitely a Vegas thing but not for the reason one might think!
Elaborate?
That term comes from the 50's when the showgirls SUPPOSSEDLY sunbathed topless pool side. (It's just a myth-likely didn't happen)
They should just call a locksmith we can get in a property in under 3 minutes normally.
Definitely would buy around 300k
I would have bulldoze the whole thing and build new
In ny or nj that whole section8 speech woulda got someone hundreds of thousands in fines…F those govts for real real
pass...but Pace tends to think long term.
I would pass
No Deal!
Kick that door in PACE. Bam
Pace has a pretty high risk tolerance.
I guess it depends on how easy it is for you to raise that much capital! 😄
This is across the st from where I live lol
Where is it in Vegas?
😮
…your perception changes…cue avatar Pace as a young Christiaan Huygens?! The inventor of clocks? Easter egg hunting.
not a deal
Pace drawing on his crack addict door-opening skills…
😂😂kick'er in💥
Would love to fly in and be apart of one of these tours with you @pacemorby. Thanks for always bringing game to the table.🔥
Any time!
@@PaceMorby Anytime I can fly in and do the tour? or for bring game? lol because I'm ready brother lol!!!