Las Vegas advice- Househack

[Jaren Lerner]

I'm moving to Las Vegas in August. I've had great success househacking in the past, including my current home where I rent out a garage apartment, but I'm having trouble finding a property in Vegas where it makes sense. There don't seem to be any duplexes, the 4plexes are all c class at best, and most homes with casitas/adus are over a million dollars. I'm not interested in renting by the room. I have a wife, child and dog and we value our privacy and don't want roommates, so ideally there would be at least two separate units. An A/B class duplex or SFH with casita/ADU/"Nextgen suite" would be ideal. I'll be working in the southwest and I'm looking in the arts district, historic district, McNeil, section 10, spring valley, south summerlin and mountain home. Needs to be at least 3bed/2 bath and no hoa. If anyone has any advice or leads, please let me know. I'm also interested in any local REIA meetings or Facebook groups. Thank you in advance!

[Rick Albert]

Quote from @Jaren Lerner:

Quote from @Rick Albert:

Do you have the ability to create the ADU yourself by converting the garage? There is the FHA 203(k) loan that you could use. That's what I did. That might be your best bet. This way you can be in the best neighborhood that you want and you can get cashflow. Plus if you are in the good area, you should get better rents.

Thanks for your reply! I wouldn't want to convert the garage as I would like a garage for myself, but I was thinking that I could buy a home with a large lot and build a detached ADU. The only problem is I'm not sure how I'd fund it or what loan products are available for adu construction. I'd be using a 0% or 5% downpayment doctor loan for the main home purchase.

I actually wonder what is more cost effective: Build an ADU from scratch OR convert the garage into an ADU and build a new garage. Each might have different building guidelines and benefits.

You could look into renovation loans but some don't allow for detached new construction.