All Forum Posts by: Chii Wei Shieh

Chii

Most 4plexs are on the east side, thus C-D property. There are some by strip behind, MGM Casino, off Maryland , and B-C property. Also, some upper northeast of Summerlin, B property. It all depends on price, condition, and location. The 4plex prices ranges from low 500's to $1M.

I think the closer you are to casino strip the better. Also, near strip is UNLV University.

Terrence

Rent by the room (house hacking) is the best way to see a chance of cash flow.  Otherwise, you have to find an agent that will create offers below asking price for you.  Cash flow is elusive, but it's out there.  Let me know if you have any questions.

Good Luck!

Chii

I would guess you are looking at SFR in Las Vegas, which there are over 4k listings. All or majority of SFR will cashflow negative. You are looking at the wrong type of property. You should look at 4plexs. There are only about 70, 4plexs available only MLS. So econ 101 tells you about supply vs demand, that 4plexs would be in greater demand due to less inventory.

Also, the financing of 4plexs is similar to SFR, but considered commercial once hit 5 units. The lowest 4plex in Las Vegas is around mid 550k, and highest just under 1M. If you purchase at 550k, with 25% down, you will cashflow positive around $700 or higher, depending if you bring up to market rents of 1200 for 2 bed 2 bath.

I know because I purchased 4plexs, and closely watch the 4plexs in Las Vegas.

Terrence