All Forum Posts by: Terry Lao

@Account Closed

Note. If you want to reply to specific person, use @????. If not, then you are just replying to general.

Terry

@Account Closed

The lowest priced 4plex in Las Vegas is the one in red below at $280k. This is east LV, not good area. The majority of multi's is east and north las vegas. Multi's have very low inventory, about low 50's if you do search in Redfin. If your price range is 250-300k in good area, there is no such thing. 

To give some perspective, duplexes top end is 280k in Spring Valley. The 4plex for $280k is two additional units, but issues will come with that.

Terry

@Account Closed

@Account Closed

Very limited inventory for multi's (2-4) in Las Vegas, per Redfin, 56 available listing. Most are in bad areas, east and north Las Vegas. However, there are small pockets that are good. See below map, circle in yellow. 

Closer to the strip, the better, will not have issues with renting. Spring Valley near Chinatown. East of 95, near Summerlin.

Also, it's only suppose to be for 1 year. It's also the lowest priced 4plex in all of Las Vegas.

It's actually $1415, split among $1085 monthly hoa, and 330 reserve.

@Maurice Smith

Obviously prices went up since you bought 11 months ago, to the tune of $70k for your 4plex.

Would you buy another 4plex or SFR in Las Vegas in this current market?

Terry

@Maurice Smith

Good for you. I remember you bought 4plex in NW Las Vegas. Long term hold. 70k in less than a year is a good amount of appreciation. The percent increase is greater than bay area, and the risk is also less due to the outlay of cash.

You should plan your vacations in Las Vegas, and visit your 4plex. Thus, all expenses can be written off on taxes.

Terry

@Conrad Steinweg

The complex is called Park Villas, not Carriage Park, my mistake in earlier post. The monthly HOA is $690. Recent comp $380k. There is a pending originally listed at $445k. Mix of (2) 1 bedroom, (1) two bedroom, (1) three bedroom. With market rents, $600-700, $800-900, and $950-1050, respectively.

If financed 25% down, you run the number, can cashflow about $500-600 positive.

Terry

@Bill B.

@Jack B.

Are we even talking about the same real estate market? The forum topic is " Found a property in LV but worried about peak".

I'm sure Bill and I are talk about Las Vegas. Not so sure what market you are talking about. Bill has multiple SFR properties and lives in Las Vegas. I have 4plexs in Las Vegas, but live in Southern California. However, I watch the LV market like a hawk.

Terry