Las Vegas, Nevada market
Anybody have advice on the multi-family market in Vegas?
Most Popular Reply
Martin Spielvogel I have been looking for quite some time (mainly MLS) in Vegas area for duplex-4plex properties and anything in that criteria usually is located in the northern area especially east of the strip. These areas are all pretty much what I think most would consider D class neighborhoods. I know that normally means more opportunity for cash flow but you also will get everything negative that comes with being in a D class neighborhood. More vacancy lower quality tenants etc. So really depends on what you are trying to accomplish.
I have been in Vegas for a little under a year and a half and have driven around to learn the area as much as possible but I am also newer and learning still so take what I say with a grain of salt.
Strangely, based off my experience so far I seem to be more familiar with all the areas and neighborhoods than every agent I have met. Maybe bad luck.
Additionally rent rates don't seem to be keeping up with the increase in price of properties so finding a good deal I'm assuming is a challenge unless you find an off market gem. Sorry for the long rant I just love to talk about this stuff and I don't seem to see much talk on forums about Las Vegas since I signed up on forums.