Please Help Las Vegas Investment

[Joshua Castillo]

Hi Everyone,

I’d like to potentially invest in a property and would like to ask for advice/feedback on the potential purchase.

The property is in Las Vegas, Nevada. I’d be submitting a 82K offer with 20% down as an investment property. The community has potential rents of 1K and the property was previously long term rented at $875.

At 1K, this would potentially be $364/mo positive cash flow. $4,368/yr. Is this a good investment? What is yearly appreciation YOY in Las Vegas? 

Thank you!

[Will Fraser]

Hi @Joshua Castillo, welcome back to the BiggerPockets forums!

The "goodness" of a deal depends almost entirely on you and your goals, so instead of assessing that I'll speak to the flags I see in this description:

• What will you do to raise the rents from what WAS $875 to what is now $1,000?  Was it just grossly under-rented or will some $ need to go into repairs and updates?
• Are you using a Property Manager?  If so, be sure those are factored into your cashflow projections and you're okay with the results
• Have you factored repairs&maintenance, and vacancy into your cashflow projections? 
• Is this a property you'll be glad to own in 5 years?  How about 20?  

If all this checks out and it meets your personal goals and needs, then it seems like a deal to me!