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Looking for a rental investment in Las Vegas

Dear Las Vegas experts,

Can you recommend a good area for purchasing a rental property that would rent out right away in the Las Vegas area? Low crime area for singles or families.

1st time out of state investor not willing to go over $150K

I am also looking for an agent with experience in the area.
  • August 20 2013 - Las Vegas
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Answers (3)

I prefer to recommend people purchase in areas that are popular with tenant and other buyers.  What this does is brings in better tenants and also as an exit strategy give you built in buyers.  Typically the most popular areas are those newer than 2000, near freeways, master planned communities, parks and good schools.  Many of my clients like to use betterschools dot org as a resource of what schools they want to live by. 

I have been looking in your price range for buyers lately and the best advice I can give you is to wait until the fall to consider purchasing as inventory levels are rising and I expect prices to drop some.  The only thing to watch is if you are financing your purchase.  If that is the case you need to be sensitive to rising interest rates.

In regards on how to find a good agent, look for Zillow agents with 5 star ratings, as their clients have been verified by Zillow. 
  • August 20 2013
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I have a property about to fall out of escrow for $145,000.  It will not last a day on the market.  You may contact me for details.

Best of Luck.
  • August 21 2013
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Vegas is a great city for positive cash flowing properties. As prices and rates increase the cash flow on these properties are decreasing.

In 2011 and early 2012 you could find investment properties that would yield a 10-12% cap rate. Now with increased prices it is very difficult to find properties yielding these returns. No you can expect closer to 5-6% cap rates. The other factor to consider is appreciation. In 2012 most neighborhoods appreciated around 30% in 1 year. Inventory is currently on the rise so I would expect this hyper appreciation to soften in the near future.

I love meeting new people and discussing the current market. Please let me know if there is anything I can help with!
  • August 22 2013
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