Looking to possibly invest in some multi family units in Vegas

[Santiago Almaguer]

Hey guys, haven't been on this forum in a while, from ventura county in southern california and I'm on my 4th property but everything is getting super expensive out here. Was looking into putting my money elsewhere, just a few questions with those familiar in the area.

-Just how hard is it to get an investment loan for multi units out in Vegas being from socal? Can it be done with 25% down? And do they look at my DTI ratios as well if I'm out of state?

-I see a few duplexes that look like they consistently pump out $1100-1200 a month total, with my 25% down my payment would be around $5-600 with these units I'm looking at. Is there a catch?

-How is the property management out in vegas? Whats the fees? Any recommendations.

-Duplexes I'm looking at have been in the 89106 area.. Also any recommendations on any other markets would be much appreciated. Im very familiar with the market where i live but haven't got my feet wet anywhere else.

THANKS!!

[Omar Merced]

Hi Santiago. Multifamily in Las Vegas. I have found that the majority, if not all, are in D neighborhoods. I remember when they used to trade for less than $25k a unit so it's hard for me to validated paying the $50k+ the people are asking. That being said it all depends on your situation. If you are ok with the returns then Las Vegas is a great landlord friendly state with some upside. North Las Vegas is going through a change and those who take some time and see the great things they are doing will benefit in the next few years. 

Loans are pretty easy to get and the rates are good so if you can leverage I would try to do as many as you can (smartly).

Rates are from 6-12% typically 10% on the lower end ones or a $50 for the really cheap ones. You can go cheaper but you'll get crappy service. I have someone I can recommend if you decide to invest here.

I did a quick search and there are less than 100 listings total on the MLS. So there is little inventory which explains the prices. Also, look at the crime map with the MLS map. Hope this helps. Plug into www.SinCityREIA.com where we send out updates on the market in real time. If you have other questions please feel free to give me a call and if you are in town let me know and we can grab a coffee. Good Luck