Las Vegas Multifamily

15 Replies

Aloha!

I'm a small investor from Maui, Hawaii, but like a lot of aspects about Las Vegas/Henderson and am interested in picking up a multifamily property out there. I'd love to connect with the right people who have an insight to the market, know the areas and maybe have a few deals available. I'll be in town at the end of October to drive the area in person and see about making some offers. Want to connect? Hit me up!

Aloha @Mike Neubauer ! When you say "multifamily" can you elaborate on size? Anything on the residential side (2-4 units) is going to be pretty much all in 'D' neighborhoods with 'D' tenants (as far as in metro Vegas). There are some opportunities in the larger (commercial) MF class if you're interested in apartments. I can't speak to Henderson on MF as I personally don't care for that area.

Always interested in connecting though. You never know when you might find a good partner for a bit larger deal than you can do on your own. Feel free to hit me up when you're in town!

Thanks @Marty True !  Yeah, I'm looking for something a bit bigger than that, and not interested in D class places unless they show tremendous upside potential. As far as size goes, maybe anywhere from 10-40 units would be where I'm comfortable. It'll depend if I bring on partners or go it alone. I'm basically looking for something that I can add value to and cashflow from. 

Hey howzit @Mike Neubauer ! I'm from Oahu, but live in the Bay Area now. My team invests in commercial MF here in the Bay Area and looking to expand our portfolio to Vegas. It would be great to connect and exchange some ideas and experiences. Hopefully our goals align and we can help each other out!

Mahalo!

@Mike Neubauer

Hey Mike. LMK when your in town. I'd love to look with you. I leave town for a few weeks in the September/October period but if I'm in town I'd love to meet. I own a dozen Vegas SFR and never switched to quads because I too don't want to be in those neighborhoods. 10-40 units would be ideal with a partner or two.

Are there no good 4-10 unit small MF in Hawaii? I’ve been slightly considering that. 

Take care. 

Hey @Bill Brandt !  Thanks for connecting, man. I'll be out there for the SEMA show. I'm coming in a week early with the family and will be on a pretty tight schedule but I'm hoping to have a day or two to drive around maybe the 26th or 27th. Let me know if you'll be in town. 

Aloha,

@Bill Brandt  

In regards to small 4-10s in Hawaii, not so much.  There are some, but they are few and far between at least here on Maui. Many of the ones we have are illegal structures. I'm kinda scared away by anything that is non conforming.  

@Mike Neubauer I looked briefly at vegas but the numbers did not make sense. Too many unsophisticated investors getting excited about the raiders. And to close to CA.

If you go there stay away from around the north airport. That is where the airport is.

Thanks @Lane Kawaoka .  Yeah, I'm not seeing much that makes sense right now either. I'd like to talk to some people out there to see if it is even worth it or if that's not the right play. I'd like to move into MF on the mainland somewhere but not sold on any particular location. There's a lot I like about Vegas, but if the numbers aren't as good as what I can get here on Maui, then it's a no. 

Wassup @Mike Neubauer

I'm from Oahu born and raised, but been in the 702 for around 16 years already. Market is currently on the rise here and lots of new building going on. Prices are trending up as well, but will probably level out in the not to distant future. All the best in finding a good deal up here brah. It's doable, but definitely gonna need to put some time into doing a good search. I'm still working on my first SFR deal up here. Aloha

@Chris Ha , nah. We put in some offers, but haven’t closed on any. We’re still looking but the margins in Vegas just seem so thin. We are exploring other markets now and continue to buy out here in Maui.