Long term rentals in Las Vegas, NV market

[Josh Rodriguez]

Hey BP, I have been aggressively focused on the Las Vegas, NV area as a possible investment for a single family. My goal is holding for the long term with steady cash flow. I found after analyzing multiple deals in the area, the better deals would cash flow between the $30-$100ish range and CoC range of 1%-5%. Thats with 20% down, with conservative expenses each month. Has anyone else experienced similar numbers in this market? Again, I am looking long term, would this be a good investment?

[Terry Lao]

@Josh Rodriguez

@Alex Alanis

Seems I can answer both your questions at the same time. The Las Vegas market is still a relative bargain compared to bay area and Southern California. The LV SFR investment is still a good long term investment. We are looking at list median price of $300k. However, the rents will only be $1500-$2000, depending on area. The best scenario is break even and appreciation via long term hold. However, the alternative is 4plex. This would increase your cashflow and net best case $500 per month. You will need to find 4plexs with you can value add like make improvements and raise to market rents. You can expect to pay $300-500k for a 4plex depending on condition and area.

There are 4plexs with and without HOA. If with HOA, can expect to pay around $650 per month. Try to find HOA's that include water, sewer, and trash. Those without HOA will still have to pay around $300 for this service. There are pros and cons for HOA's.

Terry