I live in the Bay Area and am exploring investing in Northern Nevada due to its proximity. Do we have any members who have rental properties in Fernley NV? The median home price is in my price range there. I'm interested in others' experience in the market and where you think it is going. It seems there are a lot of jobs generated by the industrial parks, but the rent to price ratio seems a little low. The schools aren't rated as high as Sparks. I considered Sparks but its out of my price range. Otherwise, it seems there is a lot of small town pride in Fernley and it is growing. I'm just not sure the rents are in line with the home prices.
Real Estate Broker · DC MD, VA & NV · Member since 2014 · 512 posts · 292 votes
2y
I invest in Northern Nevada & would be happy to have a conversation @Laura DenHaan! Reno is a booming city with tons of tax incentives being offered to businesses and of course the tax free status offer to owner-occupants. Not many traditional multi/family opportunities other than good homes near the University or apartment buildings but there are many deals and solid investment opportunities for someone to get in for under half $500K. There’s still a housing shortage and the upside potential for appreciation is excellence!
I’m in the Reno Tahoe area and would love to connect. I’m happy to be a resource and share some knowledge of the area and different markets. There has been a lot of interest in Fernley because of the Tesla Semi truck factory near by. I have lots of references to help you build a team out here.