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This “Las Vegas vs. Memphis” interview is the first episode of our “Investment Property Showdown” sub-series within the Property Management Show podcast umbrella. This also serves as the 7th episode of The Property Management Show — the very first podcast dedicated to the property management industry and its success.
Key Takeaways:
- When investing in real estate, location and down payment are key factors to consider. It is important to research the local market and understand the best strategies for success. A down payment of 20-25% is recommended.
- In Memphis, the median home price is just shy of $150,000, and investors can leverage up to 50% of the purchase price. In Las Vegas, the median home price is in the $212,000 to $215,000 range.
- It is important to find the right partner in a property management company and treat the investment as a business. Douglas and George are two great resources for investing in Memphis and Las Vegas, respectively.
- When investing in either city, it is important to monitor the property and make sure the property manager is doing the job that the investor wants them to do.
Chapter 1: Investing in rental properties: Las Vegas vs Memphis.
– Alex hosts Investment Property Showdown to discuss which area is best for investment property: Las Vegas or Memphis
– Douglas explains Memphis’ economic stability, growth & rent to price ratio; George mentions Las Vegas’ low prices & potential business growth
– Douglas & George explain minimum down payment & median home price in Las Vegas.
Chapter 2: Real Estate Investing Strategies.
– Real estate investing can be profitable, but understanding the market and best strategies is key.
– Median home price in Memphis is $150,000, leverage up to 50% of purchase price for higher return.
– Appreciation rate in suburbs is 3-5%, Las Vegas varies by zip code. Henderson is expensive to buy/renovate.
– Research local market to make informed decisions and maximize ROI.
Chapter 3: Investing in Property.
– Location and down payment are key factors when investing in property; single-family homes in the range of $200,000-$250,000 are recommended.
– Avoid homes in homeowner’s associations; 20-25% down payment is recommended.
– Property manager should be hired; formula for Memphis success includes investing in older homes for $50,000 with zero-25% down and expecting $800 in rent.
Chapter 4: Investing in Las Vegas and Memphis.
– Las Vegas and Memphis offer great opportunities for real estate investments, but research and interviews are needed to find the right property management company.
– Las Vegas houses rent for a minimum of $1200/month, while Memphis houses rent for $800/month.
– Douglas and George can help investors find properties in their respective cities.
