All Forum Posts by: Brian Walters

If you're looking at multi be sure to research the area to know it's what you want.  You should research any area you are going to live in, but there isn't a lot of multi-family in the Vegas area, and what is here isn't always in the best areas.  There are some options in Henderson.

Also, be mindful of HOAs and their rules.  Especially if you are looking to rent out rooms, add on, or anything like that.

The prices and competition in Vegas are crazy too.  My wife and I have been looking at investment properties after moving here last year and very little is available for more than a few days.  A lot of cash buyers willing to pay above asking and/or sight unseen.  

I've also learned very quickly that there is pretty much no negotiating.  We looked at a property on market for 45 days (which is a lifetime here), felt like it was overpriced but our agent told us the listing included a note saying the price wasn't negotiable.  

There are a lot of people asking above market value, the problem is they are getting it.  Makes it tougher for the average investor.  There are opportunities out there, just have to keep looking.

I'm not aware of any meet ups in the area around that time, or any other time honestly, but would love to know of any.

Vegas has strict Air BnB laws.  There has been recent news around changes but it's still going to be very restrictive.  Be sure to do the research and make sure it's an option for any property before moving forward with that plan.  Also, a lot of the areas blocks away from the strip aren't always the best of areas so that would impact short term rentals.

Things are a little more available in North Las Vegas and Henderson.

Good luck, there are people being successful in this area with this plan, but be sure to do the necessary research.  

@Samuel Toma, what part of town is this condo located?

 Welcome back.  Always looking to connect with other investors in the area.  I'm also new to both the area and investing so trying to learn as much as possible and trade notes.

If you don't talk to a lender, end up finding a place you think is great, you may miss out by not being pre-qualified.  If you find a good lender they will give you some good advice and also let you know how much you can borrow.  Going to be hard to analyze places if you're unsure of exactly what you can borrow and also at what rate.  That rate impacts all of your numbers as well.

I've driven through some of the new development areas in North Las Vegas, some really nice areas. Seems like, just like anywhere else, you can also go through some not so great areas close by.

@Chris Unice currently looking at condos for buy and hold in the Vegas area but not against trying a flip if the right opportunity presents itself.

@Maritha Harr it depends on what you're looking to invest in. In the Vegas area, if you're going multi family it's going to be in not the best parts of town. Doesn't mean it can't be done, but my understanding is there is more risk involved.

Best thing to do is research different parts of town, learn what you can about the area(s) and then start to narrow down exactly where you want to invest.

Welcome to Vegas Chris.  Sounds like we are in similar situations, except you're coming here from LA and I came from NYC.  My family and I are living in NW Vegas but looking for investment opportunities all over Vegas, North Las Vegas, and Henderson.

Would love to connect, trade notes, talk about the market.  

Hope you enjoy living here.