Coastal YUP looking in Vegas to relocate and invest

6 Replies

Hey BP community, 

Just another Coastal tech guy leaving the industry for greener/cheaper more sustainable pastures. Any recommendations on content to help educate myself on neighborhoods where investors in this community are buying for investments and thier own living. Have really enjoyed Vegas in past trips (non strip) and my wife and I are considering it as our next hub. 

Many are like you leaving the over taxed, over priced markets for more bang for their buck in lower cost of living markets like Vegas. I would be happy to help answer any questions you have about the Vegas market.

@Nick DePrizio I recently transitioned to Vegas from Miami Beach myself. To better answer your question, it would be good to get some further info as to what type of investments you're looking to make. Are you looking for SFR's? MFR's? Commercial? Are you looking for flips or buy and hold? Are you looking for turnkey or value-add?

What I've learned is to pretty much stay away from the areas to the immediate East of the strip. Southwest is the hottest/newest area and is up & coming. Northwest is nice and has some good areas. Northeast and North Las Vegas are hit/miss. Southeast has some nice areas. Summerlin is... Summerlin (always a good/safe bet). Downtown has some great opportunities, depending on what type of investor you are. It also has some areas to stay away from.

Hope this helps, good luck in your transition!

Hey all thanks for the feedback. We'd be looking for either SFR, or even multi although I hear it's rare. Feeling out summerlin or Henderson as mentioned. Have experienced Henderson a lot. Urban, no pool. Can be condos too. Potentially looking for <300k type of property. What type of cap rates are people seeing out there?

Anyone experience Airbnb? My wife n I travel extensively so one of the other reason to leave SF. We are never there but pay the cost of living. Potentially makes the multi family house hack attractive if possible or finding a turnkey that is Airbnb friendly. 

@Marty True what brought you to Vegas- market opportunity?

@Nick DePrizio AirBnB is tough here due to extensive regulations.  You may want to consider a condotel unit considering the lifestyle you mentioned.  This would give you some flexibility with renting out on a short term basis.  Numbers aren't great from a return aspect though.

Hey @Nick DePrizio I am from NorCal also, and eventually plan to move to Vegas in the next few years.... wish I could now but job prevents it.

I own two investment properties in LV, one in Henderson and one in LV just east of the strip.  The area east of the strip is interesting because many investors avoid it (it isn't necessarily the best area in Vegas), but I actually love it.  I started coming to Vegas in the 90's though before the transition from the old to the new (I remember when the Hacienda and Tropicana were in no mans land and there was nothing to see on the Strip south of the Dunes , lol) so I know a lot of history about that area plus I was born and raised in LA so I have a good feel for urban areas and what to look for and what to avoid.  It's all about the future and what I see, not necessarily how things look like right now.  But I can see where people would steer clear if urban areas aren't their thing.  

One of my best friends who works in finance in the banking industry just relocated to Vegas from the Bay Area and we're going to start looking at MFH deals in the future. 

Vegas is a great place though seems like people either really love it or they really hate it but I happen to be the former.