Investor · Phoenix, AZ · Member since 2014 · 22 posts · 10 votes
Hi - anyone have recommendations for an investment focused agent / broker in the Las Vegas area? I'm interested in cash-flowing SFH and multi-family opportunities. Las Vegas is a new market for me, so hoping to get an overview and caught up on trends. I'll be in Las Vegas (and available) on Mar 3-4.
Real Estate Broker · Temecula, CA · Member since 2014 · 994 posts · 783 votes
8y
When we were out there, Charles Bill HAll helped us find our rental property. Tell him I sent you! You can google him under realty one group. Biggerpockets wont let me place his phone number here.
Real Estate Agent · Henderson, NV · Member since 2016 · 2 posts · 0 votes
8y
Hello Herwin,
I am a real estate agent/ property management in Las Vegas and Henderson. I would be happy to answer any questions you might have. If I can't answer any question I differently know someone that could.
Investor · Las Vegas, NV · Member since 2018 · 19 posts · 5 votes
8y
I'm an SFR investor in Vegas myself for 5+ yrs. Bought my first distressed property in 2011 which has just about doubled. Vegas had a pretty good run up due to constrained supply over the years. Not sure buying today produces a cap rate enticing enough (at least for me). However rents seem to be moving in the right direction which is a good thing. I think as rates creep up there will be more opportunities soon. I have not found a broker that was able to find deals just comb through the MLS (retail). Longer term bullish on Vegas (new Casino resort in a few yrs, Raiders, Hockey, etc.) Just my perspectives.
@Mark L. - thanks for the inside perspective. I'm out in Phoenix and we've seen a similar dynamic. No doubt, returns aren't as promising as I'd like them to be here either. Hopefully this visit will prep me in case we see the market / cap rates start moving... or perhaps I can tap into off-market deals. Are you investing in other markets right now? Or on hold across the board?
Investor · Las Vegas, NV · Member since 2018 · 19 posts · 5 votes
8y
@Herwin G. Right now very selective on deals, I do like Phoenix as well, currently looking for MF there. Doing hard money as well for investors I know. If you want to connect offline, happy to trade notes.
Irvine, CA · Member since 2018 · 39 posts · 10 votes
8y
@Mark L. You mentioned that you are holding off on buying right now in Vegas. Can I ask what your criteria is and what Caps you are looking for? What would you say a "good buy: Cap Rate is for Vegas?
I'm looking to purchase a MF and was looking into Henderson. I love to hear a little bit about what good expectations should be there.
Investor · Las Vegas, NV · Member since 2018 · 19 posts · 5 votes
8y
Henderson is a great area and lots of development happening there. I'm not sure what type of MF supply exists down there or what your budget is. Most of the MF caps that I've seen on the mkt today are at best 5-6% realistically and you'd have to be fairly capitalized for rehab work. Vegas is very supply constrained today which is driving pricing higher. Happy to talk more about vegas insights if you'd like to PM me. Mark