Henderson and Las Vegas were on the list of metropolitan areas across the country with the fastest-growing average rents in the multifamily sector at the end of 2016. HOWEVER, low income properties were not used to calculate average rents in the valley. We experienced very little increases in rents for the typical 4 plex that most of our investors purchased.
Residential and some sectors of the nonresidential construction markets have been heating up over the last several quarters in the Las Vegas Valley, leading to a greater need for qualified workers. But some local firms and homebuilders are reporting a dry spell in available workers needed to fill some of the new positions.
The median price of existing single-family homes sold in January increased to $238,000. That was up 1.3 percent from December and up 8.7 percent from $219,000 in January 2016.
Hard Money Opportunity
We have a home owner who needs to refinance $88k on a home worth approximately $178k. This owner completed a 5 year term with my first investor and is looking for another 5 year balloon at 10%. She paid on time and is very low risk but my investor wants to cash out.