All Forum Posts by: Melissa Machat

Hello Jonathan,

Congrats on getting your license! I have a listing coming up in Mountain's Edge in the next few weeks in the low-mid $200s and I believe rent ranges around $1400-$1450.

Love networking with other agents and will reach out as more come up!

Melissa

Hello @Alexander Felice!

My team specializes in residential resale and would love to talk to you about your relocation and how we can help!

Looking forward to seeing you at future events,

Melissa

Las Vegas is very neighborhood specific and you are correct about multi family being in older neighborhoods. There is a huge suburb community that is neither retired or on the strip that does exist here, and living in Vegas is very simple and affordable compared to most places.

As far as what makes the most sense, our rents are not as high as one would think and they have said they are on the rise, but it's still not comparable to larger cities. I tell all of my clients it's personal preference and there are a lot of people who decide between Vegas and Phoenix so maybe it's worth checking out both? 

And yes gambling is everywhere here from the grocery stores, airport, gas stations, bars, etc so there are more people than you would think who get caught up in that so I understand why someone mentioned addictions. Happy to answer your questions.

I would love to attend!

Welcome @Bryan Knight! I'm happy to answer any questions regarding investing/buying a primary in Las Vegas and talking to a lender would probably get you the most accurate info of course on financing the primary vs investment.

I personally purchased a home out of state for similar reasons you mentioned about Mississippi and have learned a lot this past year, especially how important having a solid property manager is.

I always inform my clients prior to making an offer with as much information as possible so they can make an educated decision. To low ball and see what sticks isn't necessarily working anymore as the lower price points are seeing multiple offers again and our average sales price has come up quite a bit. Depending what you're looking for I might be able to help give recommendations of agents who specialize in that. My team works on the residential resales and finding something specific you are looking for on or off mls, but it's not necessarily below market value. If you are looking for off market/wholesale/fliips then there would be better agents here that can help. 

I am a residential real estate agent here in Las Vegas, NV and ready to learn as much as possible about investing!

I do have a single family home rented in Dayton, Ohio, and need to find a great property manager in Dayton before I will buy any more properties. If anyone has recommendations or suggestions for property managers I would love your input!

We are definitely learning a lot having an investment property out of state, and it's been a great learning experience that's for sure!

Grateful for everyone's knowledge and input on these forums and I'm happy to answer any of your Las Vegas real estate questions as well!

-Melissa-

I live in Las Vegas and bought a home in Dayton for the same reason, it was extremely cheap and a chance for us to learn and we have definitely learned a lot. For those of you in Dayton I would love to find out who you use for property managers as that was a huge mistake I made and I need to find a better option! It seems there are still amazing deals there and I want to buy more once I have the management part figured out and we've never been to Ohio so it's a risk and most would say that's not the smartest way but you have to start somewhere! 

The price point you are looking in does make a huge difference. There are fewer homes under $200,000 available right now making it more competitive and yes multiple offers. Depending on location, a $200,000 home might get you around $1000-$1100 in rent? Again this is a generalization and every community can be different. My comment about pricing being on the high side also has to do that most of my business is in the $300,000 range and up so I know I have a different perspective. What kind of return are you looking for if its going to be a buy and hold? 

It depends if you are paying cash or financing when it comes to condos, and like others have said the HOA fees can sometimes be extremely high. I am more familiar from a resale point of view that they have a much higher days on market and can be a little more difficult to sell, however from an investor perspective it really comes down to if you have a mortgage payment plus HOA fees if it will be a good return.