Anyone investing in RENO, NV?

Question

Does anybody have any experience/knowledge in the Reno NV area?  I am looking for partner possibilities.

Thank you,

Ly

Bill Schrimpf · Answer

@Ly Ma

Hi Ly!  I see your original post is 2 months old.  I hope you have had some luck finding information you need.

You will find it difficult to find properties in the $100 - $200K range; but yes, they will generally cashflow, although the 2% rule does not work well in the Reno area.  Homes in this range go FAST.  It's a sellers market.  Surrounding areas will have more inventory in that price range and may not be as competitive.

If your looking for rental properties in Reno, it's good to know that apartment vacancies in Reno are currently between 2% and 3%.  SFR landlords are feeling that too!

Tesla is an "anchor tenant" in what will be one of the largest industrial parks in the USA.   See the Reno TRIC list of companies.

George Lui · Answer

Hi @Ly Ma,  I just purchased my first rental property in Sparks 7 months ago and already cashflow-ing.  My PM (from Chase Intl) found a tenant in 2 weeks.  So far I'm happy with my investment as well as the PM (RE referral) who really handles the "landlord-ing".  My SFH property was > $300k.  Best of luck to you.

Andrew E. · Answer

Hi Ly Ma,

I have lived in Reno for over 20 years and have seen many changes over the years here and with all of the industry like TESLA moving in here hopefully some good real estate potential. I'm very familiar with all of the Reno/ Sparks area. Just starting out myself here, but looking to network and help out anyone I can.

Jake Andronico · Answer

@Ly Ma

Curious if you ever pulled the trigger. I hope you did, because you'd be sitting extremely pretty right now!!

Ly Ma · Answer

Hi Kashaela,

Thanks for the message.  I am in the Phoenix area, but since Tesla is putting a large footprint there, I became interested in Reno.  What effects will Tesla being there have on real estate?  Is Reno a good cash flow market?  Are there many 100 to 200K homes that will cash flow?

Thanks,

LY

Anyone investing in RENO, NV?

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