All Forum Posts by: Stephen DeThample

Usually less drama to have your own. 

Unfortunately, the rental price makes it hard to keep.  Unless you’re OK paying me extra each month. Is the $600 for repairs a yearly expense?  $200 monthly should cover most repairs on a 10 year old home. Las Vegas is gentle on home exteriors. 

Yes, currently rates are the determining factor. Are you looking for cash flow or long term appreciation? 

It’s tough here for non rent by the room house hacks. The city planning didn’t allow many multi family options except apartments. I’ve seen a few garage conversions, but you really want your garage when it’s hot here.  Casitas blow out the affordability, next gen’s are sort of the same. 

Quote from @Cassandra Karn:

So excited to be part of this group. I'm looking for advice from any investors that own fourplexes triplexes  in Las Vegas. There's an opportunity for a triplex that I'm excited about off the strip. Wondering how easy it is to rent these units and how often they are vacant if the tenants are on a month-to-month lease. Can anybody give me some real world advice? I appreciate your time.

Most of those questions will depend on location and how nice the units are.  Better locations and refurbished units usually have less turnover and vacancy.  Most places start with a one year lease and go month-to-month if you choose.

Welcome to Biggerpockets 

Quote from @Reilly Brown:

Hello fellow investors, professionals, etc.

I am looking for a real estate agent who can help me find a STR in the North Las Vegas area. Ideally the agent would specialize in STR (short term rentals), and have a few of their own.

Thanks, appreciate all suggestions!

https://www.cityofnorthlasvegas.com/business/short-term-rent...

Start with this.  You have to own the unit before you can apply.  No guarantees you get the approval even if you meet all the criteria.

Cash flow is nonexistent at 7% interest rates unless you find a unicorn property. Everyone’s looking for cash flow and appreciation is worth way more in the long run.  Even cash flow on a decent property from years ago doesn’t compare to the appreciation over the same time.

I have seen cash flow investors that end up investing in Ohio or some other C or D neighborhood regret their decision after realizing there is zero appreciation in those places and cash flow won’t even cover a major expense if something happens. 

Long term Appreciation is likely to happen.  But at a lower rate compared to other cities that are growing. 

You’re finding deals to sell? Any good deal is very easy to find a buyer. If you have legit deals, let me know.