Help with finding deals with Multi-family
Hi,
I currently live in Las Vegas and have 2 multifamily units, which do ok and are cashflow positive. However, it is only recently that I've been taking real estate investing a lot more seriously as I've been trying to read and listen about it as much as I can. Currently I'm interested in multi-family units between 350-500k. However, I noticed that I'm looking at like 5-6% cap rates, (though I'm pretty conservative with my expenses), and they appear to be in warzones. My questions would be:
1) Should I still be looking in Vegas for Multifamilies? Or is it time to branch out to other cities? What other cities?
2) Should I be looking for other types of investments in Las Vegas? Commercial (though usually out of my price range for now)? Airbnb/Vacation homes (though there is a lot disagreement about allowing short term rentals here)?
Most Popular Reply
#2 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St. Paul, MN
- 3,747
- Votes |
- 3,102
- Posts
#2 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- St. Paul, MN
Look for value add multi-family and stop focusing on cap rates. Vegas is a strong market, with great job growth, population growth and still good rent affordability.