Hey Guys- Newbie investor here
Looking to get advice from people investing multifamily or SF in Parahmp, Mesquite about how did they find this market and has they seen better returns, deals, tenants in those areas which are around an hour from Vegas.
@Ryan Miller I don't have investments in either town but I have been shopping around Vegas. I am very familiar with Pahrump and I have seen good prices out there. I personally would be a little hesitant to do rentals there just because of the demographics. It doesn't really strike me as a good rental market. Although it might be good for a 55+ mobile home park. Just a thought.Best of luck to you moving forward!
@Ryan Miller To piggy back off of what @Michael Wallimann is saying, Pahrump is more known for it's mobile homes as that is more of a low income area. Rentals would not be a good idea in that area because the demand to live in Pahrump is not strong and people will just move to Vegas since the rental price is roughly about the same. Mesquite is a small town and you won't have a ton of activity out there either. Unless you know of a specific reason to invest in these areas, I would suggest staying away so that you don't get a property that you can't do anything with.
hop that helps,
@Ryan Miller I'd keep researching those areas. Pahrump seems to be growing. As one of the previous posters mentioned, I would imagine there is demand from retirees. That could be a great tenant base for you if the numbers work. Make sure you drive that town though, it's quite different than the Las Vegas metro.