Las Vegas market characteristics

[Trey Knight]

My partner and I are actively seeking multi-family properties in the Las Vegas market. We chose Vegas because it is close enough to home that we could manage things ourselves on our first deal. I know jobs are a huge driver for the stability of multifamily properties. What is everyone’s perspective or experience on the market? How vulnerable is it during a recession?

[Josh Oaten]

@Trey Knight I don’t personally have much knowledge of the Vegas market, but I do see it popping up in multifamily reports quit a bit. It seems to have some strong rent growth going on at the moment, you should look into what that is from and if it is sustainable. Look at reports from Yardi Matrix, Colliers or other reports local brokers can send you. These will give you an idea of the place. If your not sure where to find them, PM me and I’ll show you. Also look at like news, Wikipedia, Best Place etc to get an idea of the demographics and what’s going on there.

[Trey Knight]

@Josh Oaten

Thank you for the feedback Josh! I’ll take a look at those reports and the other suggestions you made. I appreciate your time.