Hello my name is Michael V. I am a new investor looking to jump in and buy a multi family 3plex or 4plex in Las Vegas. I have a little information on each plex I'm looking at and have a realtor asking for me to get the information I'm lacking, like rents for the last year, water, sewer, trash and extra income, improvements, insurance costs asking question like will the tax change after I buy the plex. I'm looking to see if there is anyone that can talk with me about Las Vegas and what I can be expecting.
I'm asking so I can be as informed as I can before I buy. I would hate to move to a area that is turning into a d class, when I was told it was a c class moving up to a b. Or not fully understand that the properties I'm looking at wont cash flow like I'm thinking. I want to reach out to a few property managers and ask what rents are in certain areas, but how do I ask properly? These are just a few questions I'm looking at when considering where to buy in vegas or if that even matters with the current availability in the market.
Hopefully I'll get a few that reads this and maybe a post or 2 that will help. Reaching out to find that information that will ensure I'm on the right path. Thank you to any that read and or replied.
Simply call a PM company and ask them. They should be able to give you generic numbers for that area.
You can also find almost any info you need online. Do your research
Please search the many threads on this site regarding multifamily rentals in Las Vegas. Basically the small multis are old poorly maintained buildings in low rent neighborhoods surrounded by other old crappy buildings. Tons of deferred maintenance so they either need rehab or will be a constant repair problem.
Some can be great deals if you buy them cheap as distressed property, repair them properly and then re-rent.