3 Reasons to Consider Purchasing a Las Vegas Fourplex
Las Vegas is one of the best places in the country to own rental property. The demand for rentals is always high, and property owners can enjoy a steady source of additional income from consistent tenancy. Single properties can be beneficial, but as a Las Vegas property owner, you stand to earn more from a Fourplex.
What Is a Fourplex?
A fourplex is a type of multifamily home. As the name implies, a fourplex has four units inside. The main benefit of a fourplex is that it is the largest multi-family apartment home that you can own while enjoying residential zoning. A building with 5 units or more must be zoned as commercial. Owning a fourplex has several distinct advantages.
Why Consider a Las Vegas Fourplex?
A fourplex in Las Vegas comes with several different benefits:
● Earn more income. On a practical level, you stand to earn more income from a fourplex than you can from a single-family residence. This will significantly amplify your revenue stream and make it easier for you to recoup your original investment.
● Enjoy better financing options. Since a fourplex is zoned as residential property, you have many more options when it comes to financing. Residential properties can have down payments as low as 0-10% and have longer amortization periods.
● Get practice for bigger rental property ventures. Getting a Las Vegas fourplex can be a great way to dip your toes into multi-family property ownership and management. If you want to handle a fourplex with relative ease, you will be better suited to make investments in a larger commercial property (and thanks to the profits from your other units, you will have more to put down on a commercial building).
Las Vegas Property Management for Your Fourplex
A fourplex can provide a steady source of revenue. In Las Vegas, it is a great way to diversify your investment portfolio and increase the amount of money you can make off your building each month. The daily running of a multiplex has challenges, however. If you have a job and other responsibilities, running your own fourplex can seem inconvenient.
A property manager can take on all aspects of running your rental property with an experienced hand. Home 365’s property management system can screen tenants and place you with quality rentals. We can also develop and execute lease contracts, handle repairs, and more. Our preventative sensory system, installed throughout your property, helps identify any needed repairs to the property and fixes them before they become major issues, protecting your investment. Contact us to learn more about our property management services.