Gen Z Homeowners and Savvy Investors

Ready to unlock the secrets of successful homeownership and investment in the buzzing Las Vegas real estate market? Join me, Tiana Carroll, alongside the acclaimed Trish Williams, as we navigate the complexities and triumphs of property acquisition, catering to everyone from eager Gen Z newcomers to seasoned investors. Our latest episode is a treasure trove of insights, including the surprising revelation that North Las Vegas is leading the nation with Gen Z homeowners. We're here to empower you with knowledge on how to build equity early on, which can set you on a path to financial freedom. Plus, we'll be spilling the beans on the significance of financial literacy, especially for young adults making their first foray into real estate in Las Vegas, Henderson, and surrounding areas.

As we celebrate Trish's esteemed nomination by the Women's Council of Realtors, we also tackle your diverse real estate queries. Whether it's the implications of buying a home for an aging parent under Fannie Mae and Freddie Mac provisions, or the finer points of investing in a vacation property, we've got the answers. Considering keeping a second property as an investment? We break down the potential wealth benefits, HOA considerations, tax perks, and why holding onto low-interest rates might be smarter than seeking out new properties. Our personal experiences with property management and investment appreciation provide a candid backdrop, offering you rare behind-the-scenes access to our personal real estate journeys. So, tune in for a session brimming with actionable advice that could very well shape your future in the Las Vegas property market.

Transcript

Speaker 1: 0:17

Good morning Las Vegas. Thank you for joining us back here at Vegas Realty. Check local Las Vegas real estate news, and I am Trish Williams.

Speaker 2: 0:25

And I'm Tiana Carroll. Welcome back to our podcast. Thanks for joining us.

Speaker 1: 0:29

Yes, we're back in the norm now. We did our market reports last week, so we're back to listener questions this week. So we got some great questions for you guys that we're going to answer.

Speaker 2: 0:37

We do have some very good questions. I'm always, so, I guess, not surprised, but pleased at how savvy our listeners and our clients are and becoming like. I feel like we're giving them good value and they're listening to it.

Speaker 1: 0:52

So yay, you guys. Yes, Thank you, and you can always send your listener questions to us. There is a spot on our link tree that has a section to submit questions and our link tree is realtycheckvegas. Go in there, hit the button that says send listener questions and send them on over Wham bam, and then we have them, so we can answer them for you.

Speaker 1: 1:13

Yes, we answer them here live on the show. We are going to be doing a live on site episode or taking listener questions live on site at the home show coming up in May. So that's.

Speaker 2: 1:30

May 11th, may 11th. It's May 11th and it's at the Orleans and we'll be at the home show and we're taking the podcast there and we're going to be asking everybody there and answering questions and just reaching out to the community.

Speaker 1: 1:43

And we'll be setting up a live studio. Come say hi, come talk to us on camera. We'll have recordings, clips, everything. It'll all be posted out on our link tree and on social, so it'll be a fun time Come say hi, yep, so make sure you come enjoy us, and I think that's a my Vegas Magazine home show my Vegas Magazine. Shout out to them they're awesome for putting this on and we are excited about doing it.

Speaker 2: 2:08

Yeah, and I don't know if they're still available. You might have to go to the website, but my Vegas is giving away complimentary tickets to that. So if you want to come check out the home show, see everything home and then get a chance to say hi to Trish and I that would be awesome.

Speaker 1: 2:23

Come see us. Yes, get your complimentary tickets. There will be door prizes. I know because I submitted one for us to have, so they are going to have door prizes, raffles, things that they're giving away.

Speaker 2: 2:35

It's going to be fun and stuff for the home and there's been a few people when I've gone to the home show as a spectator that I've made connections with and in small businesses and stuff that I still use to this day and it could be years later. So it's a good spot Check it out.

Speaker 1: 2:51

Yep, absolutely. So before we open up with this week's numbers, let's get into. I thought it was exciting news.

Speaker 2: 3:00

I thought it was exciting news, and I thought it was even more exciting when I saw the chart against everything else in the country. Okay, I'll let you talk about now.

Speaker 1: 3:07

Okay, so Gen Zers those are our youngins right?

Speaker 2: 3:10

Those are my babies, little babies, you have a little Z.

Speaker 1: 3:13

I have a little Z. I do have a Z, yes, and they're not babies anymore because they are owning homes.

Speaker 2: 3:19

They are owning homes. Go Gen Z.

Speaker 1: 3:22

And North Las Vegas. Here in our Valley has the highest percentage of GenZ home ownership across the entire country.

Speaker 2: 3:31

The entire country. Nearly 40% of home ownership in North Las Vegas is those Gen Z owners. So shout out you guys. Good job. But you know Vegas ranked pretty high on that list too. Yeah, 20%, yeah, we had almost 20%. There was a lot of most places in the country were like um between uh three and 10%, and then Vegas and North Las Vegas and even Henderson's on this list. Did you know that?

Speaker 1: 3:57

Oh, I may have missed Henderson. I just overlooked it.

Speaker 2: 4:00

Because Henderson, I think, is on the first page of four. It's like six pages of cities, right, it's on five. Uh, in Henderson there's 5.7 percent of Gen Z not a lot, but Anderson's still got some uh Gen Z owners.

Speaker 1: 4:14

It can be a little pricey in Henderson, so I get it yeah, they, they did it.

Speaker 2: 4:18

And against unemployment right, I mean there was days on market price sold so many different factors. But yeah, north Las Vegas was number one on that list.

Speaker 1: 4:29

We must be still pretty affordable if we can have the youngins buying homes, those babies, and good job to those babies that are buying homes.

Speaker 2: 4:39

And we don't want to call you babies now that you're a full-grown adult.

Speaker 1: 4:41

Sorry, that's just a mom thing, yeah you're owning homes, you are definitely adulting and you're never well. I guess you are kind of too young at some point in time. But once you are an adult, you're over 18, there's no um restrictions on being a homeowner. You can start that journey early. Get in your first home. It will be a starter home in most cases, but get in there, get your foot in the door in homeownership and that will help you throughout life and going up, moving up in that home, getting your foot in on equity and stop paying rent. So good job for those Gen Zers that are thinking ahead. And I am proud to hear that our city ranks well. North Las Vegas, part of our city, ranks at the top.

Speaker 2: 5:27

Well, it's the valley we definitely serve there. If you're looking to buy in North Las Vegas, we can help you Absolutely.

Speaker 2: 5:32

That is our service area for sure, and I just want to touch on this that when it comes back to, it's never too young to start thinking about buying a house. I really am an advocate for people in high school learning how to manage their money, save their money and learn how money can work for them, so I think it's important. So, if there is anybody out there this is on a side note, wasn't even planning this but if there is anybody out there who has connections in high school and wants to put some sort of program together, I'd be willing to help with that. So you can reach out to us. That'd be awesome, Because I think that the whole world should know how to be the best version of their money handling selves.

Speaker 1: 6:13

Yes, absolutely Absolutely so great. So let's start with our market numbers for the week. Our market numbers. We have inventory still the same.

Speaker 2: 6:25

Actually it's up a bit.

Speaker 1: 6:27

Is it?

Speaker 2: 6:27

Yeah, because we were getting down to close to the $3,200 and now we're at $3,380. So we're almost up to $3,400 active homes across all price points in the Valley.

Speaker 1: 6:38

I'm sure that's reflective of the fact that rates went up again last week. And another hike, another hike, another hike. Slightly, but in this environment, slightly, is even enough to.

Speaker 2: 6:54

It's a little bit of a ding. Yeah, it's a little bit of a ding. Buyers were not happy. People who are wanting to lock in were holding off because of it.

Speaker 1: 7:03

Yeah, especially when we had so much momentum built from the announcement that rates were dropping four times this year and then we're seeing them go up. No one's happy about that. I'm not happy about that and I know buyers are not happy about that and sellers aren't happy about that yeah, no, because it affects everything, right?

Speaker 2: 7:19

Yeah, everybody's playing in the same sandbox, so if that sandbox has got those high rates, we're all dealing with it. Yeah, but that did not affect the sold. They're up a little tick at 503 sold last week that is.

Speaker 1: 7:33

That can be getting close to that 2,000 a month. I still want it to be three.

Speaker 2: 7:38

Three is my favorite. Yeah, yeah, but 2,000 is better than 1,500.

Speaker 1: 7:43

So let's get up there, we're working towards that Under contracts a big 684.

Speaker 2: 7:49

Yeah, that number is always pretty solid. Yeah, that number is always pretty solid, and that has more time, so the number feels inflated big, yeah. And then our price reductions are just under 400.

Speaker 1: 8:01

300 and 99. Yeah, 399.

Speaker 2: 8:05

And they did take up a little bit, because I think last week was like 380, 380.

Speaker 1: 8:09

Three something, yeah, but we're hitting that 400 number, so it's ticking up a bit Again.

Speaker 2: 8:15

buyers have kind of slowed down, softened up, backed up a little bit, right so that really shows like week by week If you go back and you look at last week's numbers and then this week we had a rate hike and now we have a little bit more price reductions and a little bit more inventory, because things are just not going to move in the same way.

Speaker 1: 8:33

Yeah, so hopefully the Fed thinks about this and looks at these numbers when they meet again and decides to help us out a bit.

Speaker 2: 8:42

Yeah, no, I don't think that's going to be.

Speaker 1: 8:45

Yeah Well, our seasonality this year is not playing into um quite what it is every year, Cause, in my opinion, we're having a soft spring, very soft spring.

Speaker 2: 8:57

And it felt like it was coming in for like a bang, like oh spring is here, yeah, well for me it was February, but yeah, same thing. Like it felt like it was coming in and be like, ooh, buckle up, we're in for a ride. And then it went like, oh, just normal.

Speaker 1: 9:12

Yeah, where's my?

Speaker 2: 9:13

spring activity Call me people.

Speaker 1: 9:15

So what I'm wondering is how is the rest of the seasonality going to play out this year? Are we going to have the halt in July, or is something going to happen right before July that's going to create madness again.

Speaker 2: 9:26

So what if we drop the rates in July, and then we, it gets crazy, and then we have like the best July ever I'm supposed to be going out of town in? Is it June or July? Oh no, Okay, so I'm good.

Speaker 1: 9:36

Yeah, yeah, so seasonality this year is probably not going to be the same as it plays out every other year. Well, this year so far hasn't been the same with anything. Yeah, and we are at the mercy of the feds, so let's, uh, I guess we have to see what, um, what they, what they did, um real quick, before we get into our listener questions. I guess it's kind of a shout out to me, which I don't know. It's kind of weird. Do you want me to shout out to you? You?

Speaker 2: 10:02

don't have to do your very own shout out, I will pour love into you. So, ladies and gentlemen, for the third year in a row, our lovely Trish Williams has been nominated by the Women's Council of Realtors to be in the top 25, ladies. And do you know what that means? That means next year you are eligible for the Lifetime Achievement Award. So that's in June. We'll be celebrating that award.

Speaker 1: 10:25

And in June we're celebrating June's Tee Awards.

Speaker 2: 10:28

Yeah, we've been keeping it hush because we didn't know if we'd be able to say any or they hadn't told everybody yet. But now that it is official and public and published, top 25 real women. Realtor of the year Trish.

Speaker 1: 10:40

Williams. Well, that was a much better shout out that I would have done. Thank, you.

Speaker 2: 10:45

I have one of these. Which one's the clappy one? Yay, there's our little clappy. We could cheer for you. Yeah, thank you.

Speaker 1: 10:53

Thank you, thank you.

Speaker 2: 10:55

Oh, that's a laugh. I thought it was a cheer. Well, it doesn't matter, you're fantastic. Congratulations, my friend.

Speaker 1: 11:02

Thank you so much. So let's get into our listener questions, our listener we have some good ones.

Speaker 2: 11:07

Okay, I have to. You text those to me, right. We had some good ones. Yes, I have to you text those to me right. Let's see, oh, yeah.

Speaker 1: 11:12

There they are.

Speaker 2: 11:12

Okay, so first up, I love this one. I do love this one because I don't know that everybody knows about this, but Mike wrote in and he says I need to buy a new home for my elderly mother to live in. Would this be considered?

Speaker 1: 11:29

an investment property and you know the funny thing about this which it didn't even click. This is a listener question, because I've been collecting them for months. This one. I think came in around December. Right, so I thought this was like a current client, yeah, and we did talk to a current client recently that's in the same situation. So, yeah, I guess it's a very common question.

Speaker 2: 11:48

It is a common question and do you want me? Want me can? I answer this, okay, so um, there is in Frannie and Freddie, fannie Mae and Freddie Mac. There is a loophole which I love that you can. You buy it as owner occupant. It's 5% down.

Speaker 2: 12:06

You do have to sign a letter at closing and that, and it is for, like, if I'm buying a house for my mom, I buy the house 5% down in my name. At closing I sign a letter saying it's from my mamacita, and then, um, that works not only for elderly parents but also disabled children.

Speaker 1: 12:25

Yes, and with that um many times when you buy an investment property, you get hit with higher rates, higher costs, higher points. With this program, you do not get hit with that. The rates are slightly higher than what a regular owner-occupant is, but not as bad. So it's a much more favorable loan program, a much better option, and it's never talked about like um when.

Speaker 2: 12:53

I it's never talked about. Because when people, when I tell people about this, they're like really Like I want to get a home from my mom but I don't have 20% down and she doesn't qualify and yada, yada, yada and I'm like listen.

Speaker 1: 13:04

Yeah. And some people don't want to take this on as an investment property, because you know you don't investment property. You pay a different tax structure. There's all kinds of things involved in it and this is an option to help with that when you're trying to help out your parents.

Speaker 2: 13:18

Yep, yep or disabled children, either way. Or disabled children, 5% down. Owner occupied. There's just a letter that you sign at escrow and it's such a good program.

Speaker 1: 13:30

Such a great program. So yes, Mike, I hope that helped and again, I'm sure there's other people out there that this will help so good news for everyone.

Speaker 2: 13:41

Yeah, yeah, definitely, and I know a lot of people are in that position, right when they're getting to help their elderly aging parents, and this is a good option. I love it and I'm glad you wrote it in. Thanks, mike.

Speaker 1: 13:53

Thank you, mike. Next is Leah Leah. Leah owns a fourplex. She occupies one of the units which, if you're not aware of this, you can purchase a fourplex, which is four apartments all in one building, and you can occupy one of the units and use the rent on the other three to help qualify and using an owner-occupant program FHA, owner-occupant conventional there's different programs that can work with that. There's even some down payment assistance programs that can help you in purchasing that. So that's a great option for your first home, because you're not only buying your first home, you're buying your first home and your first investment property all at once. So great option. So good job, leah. You thought ahead of time For your first time. Ahead of time, yeah, your first time.

Speaker 2: 14:39

So your first time. So now you're asking about that vacation home as a fourplex. I hate to be the bearer of bad news.

Speaker 1: 14:47

Yeah, doesn't work that way. So leah wanted to know if she, because she does this, she occupies one unit um as her primary residence and she wants to know if she can buy a vacation home under the same criteria as vacation homes, which is a 10 down traditionally if it's more than 50 miles out from your primary residence, but she wants to know if she can buy a vacation home fourplex. When I got this question I was like wow that would be awesome.

Speaker 2: 15:19

Is this a thing that we never knew about? Also? But no, yeah, well, I didn't think it was a thing, but when I saw it I was like I love how wonderfully creative that would be, because how cute would it be to get a little fourplex. Do they have them, like in the beach areas? Oh, and then buy a little fourplexes rent them out and then always have a little vacation spot. That would be amazing that would be amazing.

Speaker 1: 15:38

And then like, hey, if you're in an airbnb friendly state, would you be able to have like four airbnbs all in one? And yeah, the options are limitless, but it's not a thing, except for for they're not real options.

Speaker 2: 15:49

Yeah, you can't do it. The Fannie and Freddie for that second home is one unit. Yes, and.

Speaker 1: 15:56

I actually checked with a few lenders when this question came in and was like hey, is there anything that we're missing? Is there any workaround for this?

Speaker 2: 16:04

I just went right to the Fannie and Freddie and I love to use their cheat sheet. Okay, it just tells you if your investment property for purchase limited cash out, refi, cash out refi, second home, whatever and it'll tell you one unit, two to four units, depending upon what you're looking at and the cheat sheet, basically second home purchase one unit, boom, that's all, that's all.

Speaker 1: 16:28

That's it, so that vacation home can only be a single unit.

Speaker 2: 16:32

Yep.

Speaker 1: 16:33

Vacation home is single unit. Yeah, but back to vacation homes again. If you don't know, we've talked about on the show.

Speaker 2: 16:40

We've had lenders talk about on the show. Yeah, cindy.

Speaker 1: 16:43

Hollis right, Cindy Hollis came in and spoke with us about this. Vacation homes if you do own a home currently and you want to purchase a vacation home that's more than 50 miles away from your primary residence, you can do that with 10% down and there's also an option for those vacation properties. And again, check with your lender because there is certain criterias that you can and can't meet on this. But if you're occupying it more than oh gosh, I think it was 14 days per year, it could be, 12. I can't remember it's 14.

Speaker 2: 17:16

14 days per year.

Speaker 1: 17:18

So if you're using it, at least that period of time per year, but you may use it as, like, a short-term vacation rental and the rest of the time if it's legal and if it's allowed in the city that you have it in yeah, the city and the HOA.

Speaker 1: 17:30

Yeah, and it's short-term, not long-term, because long-term will void out that criteria as well then that is an option and a lot of people don't realize that that's an option. But again, when you're doing your application, you want to check with your lender because, as with a lot of these things, the criteria can get complicated and there's certain things that can void it out. So you want to make sure to go over it all with them and make sure that it's eligible.

Speaker 2: 17:55

And if a second home is something you're interested in, we're both certified in that second home property specialist.

Speaker 1: 18:02

So if you live more than 50 miles from Vegas and you want that vacation home here we can help you out, but the Airbnb restrictions here are very tight, so I wouldn't plan on that option. I mean, it is an option, it's not impossible, but it's very limited.

Speaker 2: 18:18

Yeah, yeah, we got lots of red tape here for Airbnb. So weird from a hospitality study. Yeah, I wonder why. How did that happen?

Speaker 1: 18:27

So we are going to have someone at the end of the month be talking about a new rollout of midterm.

Speaker 2: 18:34

Oh yeah, we do have a guest coming on and he's going to be talking about midterm rentals in the Valley.

Speaker 1: 18:38

Yeah, so midterm rentals, if you're not familiar with that, are 31 days or more, so they don't have the same restrictions as short-term rentals, Kind of a little way out of that. But again, you have to rent those out for 31 days or more. So options, there's always options, right?

Speaker 2: 18:57

Yes, there are always options. Okay, we have one more question, lucas Lucas.

Speaker 1: 19:04

Lucas got married. Congratulations, lucas, congratulations. And we don't have your wife's name here, so congratulations to you both. Yeah, they both own homes. He owns a home, she owns a home. I like that, Good job. They're considering selling one of them, but want to know how capital gains works. So before we open this up, let's just put out our disclaimer there.

Speaker 2: 19:28

Not a tax girl?

Speaker 1: 19:29

Not a tax girl at all, nope, and always double check with your tax professional. We are not allowed to give tax advice, yep.

Speaker 2: 19:38

Not giving tax advice here, but we might be able to steer you in the right direction. So you are at least educated enough to ask the right questions to the right tax guy.

Speaker 1: 19:47

Or cite what's currently in documentation from the IRS regarding the sale of a residence primary residence. So in the IRS code that's primary residence, yep. So in the IRS code that's available, section 121.

Speaker 2: 20:02

Oh, that's the tax exclusion.

Speaker 1: 20:03

Yes, not a tax girl, not a tax girl, but it's there. But that's the section 121. That's the tax exclusion. Yes, google or Bing, bing it.

Speaker 2: 20:13

Bing. It Is Bing still around. That's like going to say Is that is Bing still around? That's like going Is that an old thing? I thought it was a new thing. Wait, bing is like Ask Jeeves they're all search engines.

Speaker 1: 20:21

Oh, I thought it was a new thing. There's some like new Google out there. I don't. I heard about it. I thought it was Bing, but obviously it's not well known.

Speaker 2: 20:29

I hate to break it to you, but the new Google. They shattered Google search engine records and now are the number one search site for information. Maybe we should throw this podcast on TikTok so that people are getting the information.

Speaker 1: 20:43

You'll have to throw the podcast on TikTok, because I don't even have a TikTok. I ain't playing in that sandbox.

Speaker 2: 20:49

I love that sandbox and, on a completely side note, they've been trying to ban TikTok. You've heard that right side note. They've been trying to ban TikTok, you've heard that right. So now that they're I think it's today or tomorrow they are now trying to bury banning TikTok in a proposal that is giving financing to help fund the war over in Israel and they're putting TikTok in that category as safety and it's so annoying.

Speaker 1: 21:19

You got to love our government when they do these big proposals that always are packaged great and sound good. And then you're like, how'd that get in there?

Speaker 2: 21:27

Well, I hate the whole thing, so I don't even think it's packaged good or sounds good, so I don't want to talk about that. We're not going to get into that here. We are going to answer. Lucas' questions the capital gains. So back to it. Not tax girls, but section 121 is the part of the code that talks about exclusions for those capital gains.

Speaker 1: 21:47

Right. So if it was a primary residence for two out of the last five years, yeah, 24 months, and they don't have to be consecutive.

Speaker 2: 21:55

You could have lived there six months, taken a year off and come back six months, but within the last five years, if you've accumulated 24 months, 24 months as primary residence.

Speaker 1: 22:06

A single person can have up to $250,000. That's not taxed for capital gains.

Speaker 2: 22:13

Yep, you're exclude that to capital gains.

Speaker 1: 22:15

Yep and a married couple can have up to 500,000 excluded from capital gains. And um the married, um, as a married couple, it depends on how you file jointly, separately, all that good stuff. Um, so that is an option. Um, I want to throw in my opinion to you, lucas.

Speaker 2: 22:34

Well, it is the show that we get to do that. Throw in my opinion to you, Lucas.

Speaker 1: 22:38

Well, it is the show that we get to do that. Nobody's regulating us, if you care about my opinion. So it is great to sell the other property if you guys are choosing to move into one, but also I would highly consider, or at least look into, your options of keeping that extra property as an investment property, as an investment.

Speaker 1: 22:53

Yeah, put a renter in there. Put a renter in there, see if the numbers work, because that could be a good, solid investment property. If you don't need to sell it to use as a down payment to purchase another home because you already have another home, that property might be a solid investment and help you guys gain your long-term wealth goals and have a good investment, or even your first investment into real estate, which you might find very favorable.

Speaker 2: 23:21

So yeah, I have to agree with that. If you already have something in place, then having to come up with a down payment and buying at a higher market price than what you originally paid for, and then having the interest rates, sometimes it does not make sense to sell. I know that's weird, because we're always like buy, sell, sell buy, sell.

Speaker 1: 23:38

Yeah, we don't make money off of you keeping it as an investment property. We're just offering solid advice.

Speaker 2: 23:43

We're just telling you that if the numbers make sense, then you should definitely consider keeping that home if you can use it as an investment property. Obviously, some people will not be able to maintain or don't have the resources to do both, but if you can do, do.

Speaker 1: 24:02

Yeah, and we know some great property managers. If you want to reach out to us, we can definitely direct you in the right direction for that, and also if you are considering using as your investment property. There's one thing that is very, very important that you look into first, and that's if you're in an HOA, if that home is in an HOA you want to make sure they don't have rental restrictions and review the.

Speaker 1: 24:23

CC&Rs and regulations on rental properties because some of them have restrictions to certain amounts in the community. Sometimes you have to go on a wait list, sometimes it's exempt altogether and sometimes there's no exemptions whatsoever. So it really depends on the rules and regulations of that HOA. Before you do that, check that, because the worst thing possible that could happen is you get a renter in there and you didn't check that first and then you start getting, I think, weekly fines from your HOA.

Speaker 1: 24:53

And then you have to do something with the tenant because they're obviously in a lease. Yeah, you'd probably have to buy their lease out. Yeah, so you could find yourself in a world of mess. So always check that out first before turning a property in an HOA into a rental property.

Speaker 2: 25:09

Right, and you have the luxury of having two homes. So maybe one doesn't offer the renter's option in that HOA, but maybe your wife's home does, and so you decide to use her home as a rental and then move into your house, or vice versa.

Speaker 1: 25:23

Yeah, yeah. So those are great options to look into. And again, not tax advisors here, not tax advisors here. Having a rental property does have some tax benefits that you might want to talk to a professional tax advisor about.

Speaker 2: 25:41

Yeah, and, who knows, with all the appreciation that Second House is getting, you could refinance it. You can get a HELOC. You can do whatever you need to do to start and grow your new life together.

Speaker 1: 25:53

Yeah, yeah, congratulations On my first investment property.

Speaker 2: 25:56

I've had it for a few years now and it has already appreciated to a higher level than I ever thought it ever would Listen everybody gave me hell in 2020, at the end of 2022, like November of 22, for purchasing with the interest rates and the whatever, but already the appreciation on my place has gone up and I'm like I made the right decision.

Speaker 1: 26:19

Yeah, so it gains. It not only gains equity, but it gains profit from the monthly rental. So it's like, wow, it's like a double benefit, and then tax benefits too. So it's like, wow, this is like amazing. They're like an amazing real estate gift is a rental property.

Speaker 2: 26:36

Yeah, exactly, and, like I said, you probably could not purchase that property for the same price, with the same interest rate and stuff that you've got that now, since it's already in the history books, like don't give it up.

Speaker 1: 26:48

You know the rental property I bought in 2020, and it was March 2020 when everything shut down.

Speaker 2: 26:54

And again.

Speaker 1: 26:55

People were like whoa you're crazy, you should like back out of that escrow. Yeah, and I was like I'm just going to go with it and see what happens. But you know that interest rate is at a 4.25. And that at the time because interest rates on primary residence were like 2%, so it didn't seem like a great rate. Yeah, but for a second property, that's amazing. That rate looks amazing. Didn't seem like a great rate.

Speaker 2: 27:16

Yeah, but for a second property that rate looks amazing.

Speaker 1: 27:19

And that was an investment property rate. So times change. So, lucas, look into those options. If you want to talk to either of us and just help us steer you in the right direction, help you gather some information to help you make the right decision, as well as give you an analysis of what the home, or both of the homes, could be worth. That could be a factor in making your decision.

Speaker 2: 27:43

Yeah, yeah, yeah. So any kind of guidance, you can give us a call. My number is 702-379-9948. You can call or text me anytime and if you need to get ahold of Trish, 702-308-2878.

Speaker 1: 27:58

And go into our link tree guys. That is wwwrealtycheckvegas. We have everything there. You can follow us on social. You can submit listener questions. You can check us out on any audio downloads.

Speaker 2: 28:17

Yeah, and then any sort of special events that we're doing, like we'll have the home show next month, and then we had the Easter egg hunt and we did a trunk or treat last year right, we did a trunk or treat.

Speaker 1: 28:29

We did an Easter egg hunt. We have a pool party coming up in June. I think it is.

Speaker 2: 28:35

June or July.

Speaker 1: 28:37

Yeah, so, um, always, we're always doing stuff, so check us out and see what we're doing. We'd love to meet you. We'd love to see you guys in person.

Speaker 2: 28:45

And we appreciate you showing up every Thursday to join us, get the numbers and find out what's happening in Las Vegas real estate. So thanks for joining our tribe and if you haven't yet, no reason not to like, share, share and subscribe any of this information. Maybe it'll help somebody else out in your tribe.

Speaker 1: 29:01

Yes, thank you, and thanks for joining us every Thursday here on Vegas Rotation.

Speaker 2: 29:06

Until next week, vegas, have a great week. Bye, bye, thank you.