Las Vegas rental fears c class properties. First investment

Contractor · Las Vegas, NV · Member since 2019 · 35 posts · 7 votes

I’m looking to invest in the real estate market in Las Vegas I’m handy been doing electrical for several years. But I’m worried about c class property in the Las Vegas area and having bad tenants that don’t pay or always late any one with experience in the Las Vegas?

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

Originally posted by @Skyy Dugger:

@Phillip Dwyer I want to do a fha on multifamily 200-650k

you have to live in it for an FHA loan.. and unless Vegas has specific rules as an owner occ 1 to 4 units.. you don't have to adhere to as strict rules when choosing a tenant.. As non owner occ do.. you can be very choosy =so that helps.

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Rental Property Investor · New Castle, DE · Member since 2017 · 95 posts · 102 votes
7y
No experience with Las Vegas I have a c class property. If you put the onus on yourself to make sure you get a quality tenant instead of worrying about what they would do to this house it goes a long way. If my tenant up and destroyed my house or refused payment randomly I wouldn't blame anyone other than myself because I let them stay there. Also look more into section 8 if you want some type of assurance you will get paid.
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Matt Sosa
Rental Property Investor · Las Vegas, NV · Member since 2018 · 15 posts · 11 votes
7y

Do you live in Vegas?
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Phillip Dwyer
Real Estate Agent · Henderson, NV · Member since 2011 · 1k+ posts · 550 votes
7y
What price range are you looking at?
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Skyy Dugger
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Contractor · Las Vegas, NV · Member since 2019 · 35 posts · 7 votes
7y
@Tyrone Jackson true I needed a lil reassurance with that I’ve been learning the area and getting a better feel for the area
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Skyy Dugger
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Contractor · Las Vegas, NV · Member since 2019 · 35 posts · 7 votes
7y
@Matt Sosa’s ya just lived here a few years after 2011 been back n forth east n west
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Skyy Dugger
OP
Contractor · Las Vegas, NV · Member since 2019 · 35 posts · 7 votes
7y
@Phillip Dwyer I want to do a fha on multifamily 200-650k
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
7y
Originally posted by @Skyy Dugger:
@Phillip Dwyer I want to do a fha on multifamily 200-650k
you have to live in it for an FHA loan.. and unless Vegas has specific rules as an owner occ 1 to 4 units.. you don't have to adhere to as strict rules when choosing a tenant.. As non owner occ do.. you can be very choosy =so that helps.

Podcast Guest on Show #222
JLH Capital Partners51 Review
Website View Page
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Phillip Dwyer
Real Estate Agent · Henderson, NV · Member since 2011 · 1k+ posts · 550 votes
7y
With that large of a price range you have lots of options. However, you’ll want to do lots of on the ground research with 2-4 unit properties in the Vegas market.
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Skyy Dugger
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Contractor · Las Vegas, NV · Member since 2019 · 35 posts · 7 votes
7y
@Phillip Dwyer thanks for advice everyone I’m looking forward to attending the meetup to network and learn more about the area. I’m exploring the area I have a natural feel for real estate being around and working for investors so long in the electrical field east to west coast.
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