Where to Invest in Las Vegas?

Question

My name is Noelani and I am fairly new to Bigger Pockets. My boyfriend has raved about the site for months until I finally noticed how beneficial this could be for our lives. He bought me the Rental Property Investing book by Brandon Turner and I couldn't put it down. I haven't even finished it because I'm so ready and excited for this opportunity! I live in Las Vegas and am not sure where to begin. Does anyone in Vegas or anywhere else have any advice for a new comer in this profession?

Terry Lao · Answer

@Noelani Neil

Have you narrowed your type of property? like SFR, condo/townhome, or multi-units (1-4) ? Each type has its pros and cons. If you are a beginner, and not much money, and you currently rent, then the best house hack would be to buy multi-units (1-4), and live in one unit. This way you can use FHA, and only requires 3.5% down, and use the rents from other units to pay for your mortgage. Living in one of the units will also give you first hand experience for repairs and maintenance.

Next question, when you say not much money, how much? because this will narrow your ability to buy one, two, three, or four units.

Terry

Noelani Neil · Answer

@Terry Lao, thank you for the article! Its very helpful!

Terry Lao · Answer

@Noelani Neil

read below post and become enlightened.

Terry

https://www.biggerpockets.com/forums/48/topics/513...

Noelani Neil · Answer

Aaron, thank you for your reply! If you don't mind me asking, is there a reason you say only Summerlin? I am new and don't have much money to begin with and I know that area tends to be in the higher price range. Just curious.