usctrojancpa
Well-known member
Honestly, one of the reasons why I invested in Vegas was because my dad is out there and can help me manage my properties (as well as me going there on a regular basis).
Investing in Las Vegas? Where do I start?
- Thread starter NoSoup4U
- Start date
homer_simpson
Well-known member
Baby Irvine said:
We have been. Rental parity is so so
usctrojancpa
Well-known member
The IE has similar tenant turnover issues to Vegas.Baby Irvine said:
irvinehomeowner
Well-known member
Yeah... I just don't know what kind of renters you'll get at either of those places.USCTrojanCPA said:
Johns Creek renters must all be multi-year pay-in-advance tenants.
panda
Well-known member
IHO,
There is both risk and reward for low end rentals and high end rentals. I think if you have nice home in a good neighborhood with good schools you will have a tenant that will stay for a long time, but may take a little longer to find a new tenant. I found this out by accident as one of my tenants is on his 5th year lease of $3000/month and my carrying cost is slightly under $2400. It is a large home 3500 sq/ft 5 bed/4 bath on a .25 acre lot.
I would assume the lower end homes in rough neighborhoods will have better cash flow but higher turn over rate. I target SFRs between 2500 - 3000 sq/ft with atleast 4 bed / 2.5 less than 5 years of age. You have to run the comps of how fast the homes get rented out, at what price, & inventory level within a school cluster. I also concentrate specially on school clusters. Some people invest all over : some in Vegas, Phoenix, Houston, and Dallas. I personally don't think this is a wise way to diversify. You can diversify by owning in different neighbors or buying some high end homes and low end homes in your own backyard. I think you will make more money if you concentrate in your backyard as your airfare, hotel, etc to check up on your out-of-state will eat into your ROI real quick. Most Property management companies suck, but there are only a few that are worth pursuing.
Again, this is just one man's opinion who is just starting out in Real estate investing.
There is both risk and reward for low end rentals and high end rentals. I think if you have nice home in a good neighborhood with good schools you will have a tenant that will stay for a long time, but may take a little longer to find a new tenant. I found this out by accident as one of my tenants is on his 5th year lease of $3000/month and my carrying cost is slightly under $2400. It is a large home 3500 sq/ft 5 bed/4 bath on a .25 acre lot.
I would assume the lower end homes in rough neighborhoods will have better cash flow but higher turn over rate. I target SFRs between 2500 - 3000 sq/ft with atleast 4 bed / 2.5 less than 5 years of age. You have to run the comps of how fast the homes get rented out, at what price, & inventory level within a school cluster. I also concentrate specially on school clusters. Some people invest all over : some in Vegas, Phoenix, Houston, and Dallas. I personally don't think this is a wise way to diversify. You can diversify by owning in different neighbors or buying some high end homes and low end homes in your own backyard. I think you will make more money if you concentrate in your backyard as your airfare, hotel, etc to check up on your out-of-state will eat into your ROI real quick. Most Property management companies suck, but there are only a few that are worth pursuing.
Again, this is just one man's opinion who is just starting out in Real estate investing.
irvinehomeowner said:
