Looking to Purchase my First Rental Property in Las Vegas.

[Horeb Gallardo]

Hey Everyone,

I’ve been reading a lot and I am interested in building passive income. I have a potential business partner who will go 50/50 on our first deal so we can get our feet wet in this business. What should I know or look out for before we buy? (Looking at a Single family home to purchase)

[Trey Knight]

@Horeb Gallardo

Horeb, I work in the Las Vegas area and currently have one single family rental in St. George, UT. I’d be happy to connect you with some realtors in the area that could help you hunt for your first deal. I’m in know way an expert. However, if it were me I’d look at rentometer to see what the different areas of Las Vegas are renting for. This will help you estimate what your rents will need to be at in order to cash flow out of the gate. I like value add stuff. If you can find something that needs minor repairs you will get it cheaper and you can later improve it for forced appreciation. Find the ugly duckling amongst the swans. Feel free to reach out!