1st Rental Property in Reno, NV - Looking for Advice!

13 Replies

My wife and I are looking into Reno to start investing in rental properties. We are in the market for a trusted and recommended real estate agent who specializes in investment properties, a contractor for any future work needed, and a well-established property manager/management company (the most important to us). We'd love any recommendations the community has or any pieces of advice you'd love to share! Thanks!

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Hi Scott - I am a Realtor in Reno and depending on what your looking for, might be able to help.  Can you please start by explaining what your investemnt goals are and what what looks good to you about the Reno area?  Do you have any other RE investments?

She is a broker, Agent, Property Manager and best of all a Real Estate Investor with rentals in the ares

Hi Scott, Let me know if you find anyone trustworthy and competent. I was pitched by a friend, also an active real estate investor, to invest in Reno area vs California. I’m thinking about investing there too.

Hey Scott, 

Have you considered purchasing a home near UNR and TMCC? I like real estate in North Reno because as long as the schools are there you are pretty much guaranteed to have students seeking housing that is close to the campuses. Good luck with your search! 

@Sandy Hu - I'm curious to know why your friend recomended the Reno area?   I'm biased  but wonder what other people see.  I can certinaly recommend a property managment office if you get going in the area.  They are very experienced, something like 20+ years and currently have over 250 properties under managnemt.  

I'd love to get in on this conversation. We currently own 4 units in Fallon and have been looking for additional property this year. Prices seem to be on the rise in northern Nevada so I would be interested to learn that actual price to rent ratios in Reno / Sparks and if it is a viable market to invest in if you are looking for properties under 250k. @Bill Schrimpf @Carson McFadden @Tim Farrell

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Scott. Get a copy of the June 3rd Reno Gazzet Journal to get a better idea of the real estate values.  Very good front page article regarding the state of the locale real estate market.  

Remember you should be investing in cash flow not future appreciation. With the current gap between wages, cost of homes and inventory levels less then one month supply, you might be better off investing in your local market.

I'm looking for the same. I'm thinking finding a duplex in the price range may have the best monthly return. @Garrett Diegel

@Carson McFadden definitely interested in housing for student rentals. Do you manage student housing right now? I would be interested in getting your take on what areas are best surrounding the school.

I have to make work trips to Reno regularly and am planning on looking at a few properties next time I am in town. 

@Hayden Sahnow I only manage my personal investment in Reno which is in a student housing community. I've owned it for about 9 years now and have had really great experiences with the home and the 4-5 different tenants I've rented to (minus one or two minor mishaps).

The majority of properties I manage on behalf of investors are in Carson City and Dayton, however, I have access to information regarding the Reno market and visit frequently. If you have any other questions feel free to reach out. 

Overall it seems that just like the low-pricing boat for Austin TX was missed in 2014-2015, we have sort of missed the Nevada - Carson/Reno low priced inventory as well now in 2019. 

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