I am interested in investing in Las Vegas from Hawaii. What kind of ROI can I expect from Las Vegas? In Hawaii its quite low. Can anyone please recommend a good real estate agent and property manager. Thank you
@Alvin Goo , You would want to reach out R.E Agent @Jason R. . I've been working with Jason for a couple of years and he has gone the extra mile to get the deal done. I am also a out of town investor and he has shown that he is a agent you can count on, him being well connected in Vegas helps a great deal also.
He has been tagged in this reply, he is a B.P member.
Vegas has seen much greater appreciation in purchase prices than increases in rents in recent years so, while cash flow may be better than in Hawaii, you’ll find your ROI will depend in significant part on any future appreciation (vs cash flow).
Realtor-wise, check out @Robert Adams
@Andrew B. thank you for the mention!
@Alvin Goo returns vary on area and property type. Many times properties that pencil out with higher returns are because they are in less desirable areas. These areas tend to have higher vacancies, crime, higher vandalism etc which will lower the actual returns. The opposite is also true, if you are in an area that has less crime, less vacancies, and less susceptible to vandalism then the lower returns on paper usually hold up at the end of the year.
Is there a certain return you are looking for? Feel free to email directly for a quicker response as well.
I understand the logistics. I currently have a few properties in Memphis where my minimum ROI target is 8% in B class neighborhoods. Is this possible in Las Vegas? I understand Henderson is a nice area but are the sales prices low enough to get an 8% ROI?
I hear the appreciation rates in Vegas are amazing, yet the cash flow is extremely weak. It depends on what you’re looking for. I love the cash flow in Memphis, Tn!
I am not comfortable waiting/hoping for my properties to appreciate (I am not a gambler). But since I live in Hawaii, I am looking for investments closer to the west.
The reason I mentioned Las Vegas is because that city is known as the "9th island for Hawaii" . Therefore, I thought it would be nice to do some RE business there if I can get some decent cash flow.
So my goal is to look for a local realtor in LV who invests in the local real estate him/herself. From there, I would look for a good property manager, similar to what I have done in Memphis.
Eric Fernwood will be who you need to reach out too. His team has it down. From finding the property to property management. We've purchased 5 properties through his team within the last two years in Vegas and he goes above and beyond (appreciation is good and rents are good from personal experience) He's on these forums if you search. His website lasvegasrealestateinvestmentgroup.com (website not updated for a while but gives you an idea) and you can get his info to reach out.
Reach out to him, you'll be glad you did.
We are more than happy we did!!
thank you all for your referrals and suggestions, I really appreciate it.
@Alvin Goo I agree that you can't rely on appreciation but it certainly helps the ROI when you do get it. One thing that goes along with this is buying properties at discounts to have instant equity. The issue is that since it's such a strong seller's market, it's very difficult to get any meaningful discount when purchasing properties from the MLS. If you are interested in some off-market deals that don't ever see the MLS, please feel free to reach out as that is my specialty