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Updated over 4 years ago on . Most recent reply

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Johnny Chew
  • Rental Property Investor
  • Alameda, CA
7
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13
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New SFH in Reno as first investment rental property?

Johnny Chew
  • Rental Property Investor
  • Alameda, CA
Posted

Newbie here. Has anyone looked at some of the new SFH in the communities around Reno, Nevada? the prices are around the mid 300k. What do you guys think of them as a buy and hold investment?

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62
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61
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Brian Moore
  • Rental Property Investor
  • San Diego, CA
61
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62
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Brian Moore
  • Rental Property Investor
  • San Diego, CA
Replied

Hi Johnny, I'm an out of state investor who closed on my first Reno investment in December and I'm happy to report a positive experience thus far. As some folks have stated in this thread, the appreciation play of a $300-400K SFR will likely be neutral on cashflow. I went the other route and chose a 2 unit with that same budget in a part of Sparks that was one of the more affordable parts of town. I wouldn't call it a 'rough' area (not a lot of crime) but all dwellings are 60-100 years old with the occasional run down property on each block. That being said cashflow has been great; $800/month (before factoring in Capex or maintenance expenses) which in my experience are great numbers given the proximity to CA. Also note that this was an MLS deal and I had a 1031 exchange about to expire, so I'm very happy with the outcome given these circumstances. My 2 unit won't appreciate like a SFR but I'm bullish on the TRIC driving appreciation to the area as a whole and my property is just off I-80 so very proximal for the growing workforce (i.e. renters) that the Industrial Center will bring. Best of luck and feel free to reach out for any questions or referrals.

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