Taking an Out-of-state Leap to Las Vegas

[Molly Ogunnowo]

Hello,

I am relatively new to real estate investing. I just rented out my first house after downsizing to a condo. I am now ready for my second property and I have seen a potential in the 89183 zip code of Las Vegas, NV. I will be using Seller Financing option for this property and the property is still on the market going for $376900 with original interest rate around 5%. It is a new construction (2022) and current owner has only lived in it for a year but has to move because of work. I am seeking advise, suggestion and guidance if this zip code is a good buy for rental purposes, that is, will it give me a positive cash flow? I know Las Vegas is making a come-back (to pre-COVID) in tourism however, with the current interest rate, I am concerned that I may not be able to have positive cash flow on the property. What are your thoughts, suggestion, opinions and concerns. Thank you for reading.

Molly O.