Las Vegas, NV · Member since 2017 · 3 posts · 0 votes
Making a post to see what the multi-fam market out here in Las Vegas is like. Is it pretty active or does it seem like the market for good deals is dried up? My focus is turn keys, however I'm open to properties which need some work to get up to 100%. I see people usually ask what others goals/priorities are, so I will state that mine is cash flow. Not worried about scaling up to X amount of properties or units or going after value add situations. Just looking for cash flow to cover life expenses and take advantage of the RE vehicle. If Vegas sounds like a city that fits my description or if anybody has any helpful info it would be much appreciated!
Las Vegas, NV · Member since 2019 · 173 posts · 78 votes
4y
Within Vegas itself, if you are going for multi family, you are in some of the tougher areas of town. From everything I have read it can work, but there is added risk, lower rents, and lower credit scores of tenants.
People obviously do it, but know what you're getting in to and make sure that's what you want.
Las Vegas, NV · Member since 2019 · 173 posts · 78 votes
4y
Within Vegas itself, if you are going for multi family, you are in some of the tougher areas of town. From everything I have read it can work, but there is added risk, lower rents, and lower credit scores of tenants.
People obviously do it, but know what you're getting in to and make sure that's what you want.
Las Vegas, NV · Member since 2017 · 3 posts · 0 votes
4y
Preciate the response! Yeah I think I know the type areas you're talking about. We have 4 plexes right outside of base. Is the outskirts of Vegas viable or you won't really find multi-fams out that way? And to clarify I'm definitely not locked into just getting 2-4 units.
@Brian Walters is definitely correct, any muliplex units are going to be in tougher parts, however there are some that are off of Charleston Blvd that have been re done but could be looking at the same type of tenants and the pricing of those are going to eat into cash flow as well. In Vegas the muliplexes are going to be right around the same areas as well. I have attached a link for you too to look at all 56 ACTIVE multiplexs to give you an idea of where the locations are for references.
Las Vegas, NV · Member since 2017 · 3 posts · 0 votes
4y
@Connor Martin Fair enough and much appreciated for the link! I'm going to check it out and do some more looking into the local area. Not trying to start out of state out the gates!