All Forum Posts by: Robert Adams

I second the idea of buying a 4 plex with Primary financing. Do it now while you are young with no debt and family etc.

Great story and welcome to BP. I too am in the Las Vegas and Henderson markets. I wish you the best in your new chapter.

Need to be careful when classifying and discussing different areas due to antisterring laws. Check out local crime mapping websites to see recent crimes in different areas as well as school ratings. This will help you get a feel for various areas. Here are some links that may be helpful.

The Las Vegas Metropolitan Police website covering Clark County and the City of Las Vegas, has a page where you can search crime statistics. We've included the link below. http://www.crimemapping.com/map/nv/lasvegas

For areas covered by North Las Vegas police: http://crimeview.cityofnorthlasvegas.com

For the City of Henderson: http://www.cityofhenderson.com/police/crime_search.php

If you want to see what school ratings and zonings are in those areas you can visit the Clark County School District website here: http://ccsd.net/schools/zoning/search/

@Terry Lao you hit the nail on the head with your source examples. Due to the high demand a lot of the time they are able to sell off market and save on commissions. It is very easy to find investors for multifam in Vegas right now.

A lot of multifamily gets sold off market. 

A lot of out of town buyers don't realize that majority of multifamily of 2-4 units was built a long time ago and are in older neighborhoods.

Over the past year or 2 there has been a spike in multifamily demand and appreciation which is a major factor in the available inventory for multifam.

you can also find distress multifam that needs rehab, new tenants at higher rents, the flip once fully occupied and rehabed.

If you find flips manually or through software please put me on the list ;-)

I would add, with rental rates increasing if you find a deal that cash flows now it will cash flow even better in a year or 2 or 3 as rents continue to increase and your cost stays the same. Even if appreciation slows or stops rental rates would continue to increase in the short term.

Pay attention to whethet the land is being sold with the unit, has it been converted to real property or can it be, also be cautious of high hoa fees that may kill cashflow. 

You also want to know if the unit can be replaced with another unit. Some can't. 

The zestimates have gotten better since they ran a competition for programmers to find a way to improve the algorithms. The competition paid the winning programmer $1,000,000. I believe that was about a year or so ago. While they are better than in the past i agree they do not account for certain factors that can swing the value up or down significantly. Its good for a quick peak but if truly analyzing a deal I would still have an agent run the comps. Happy holdays everyone!