Las Vegas Multifamily Housing Investment: Travis Cadman Explains Why Growth and Affordability makes Las Vegas multifamily a prime target asset class.

Las Vegas is one of the most promising markets for multifamily property investment. In the following article, Travis Cadman discusses the reasons why Las Vegas may offer excellent returns for the multifamily investor. Travis Cadman is a real estate investment consultant and co-founder of Investar USA.

Las Vegas is developing increasingly diverse opportunities for economic growth, yet remains affordable compared to similar U.S. markets. If you're considering multifamily real estate investment, Las Vegas, NV may offer exceptional returns. Here are a few reasons why.

Growing Economy

The Las Vegas economy is experiencing a significant growth spike. With an explosion in job opportunities starting in 2017 and projected to grow by 3 percent in 2019, Las Vegas is an attractive region for recent graduates and people looking for skilled employment. This increase in jobs is leading to a rising demand for rental housing, particularly affordable housing.

Economic Diversity

While hospitality professions have dominated the Las Vegas job market for the past several decades, employment opportunities in a variety of industries are expanding rapidly. Industrial sector and healthcare jobs are increasing, and construction jobs – while always abundant – are growing as new entertainment developments and commercial structures are being planned.

Affordability

Las Vegas has always been one of the most affordable metropolitan markets in the west, and has been a preferred retirement location for seniors who cannot afford the cost of living in regions like Southern California and Florida. Millennials are also increasingly seeking opportunities in Las Vegas for its affordability, job prospects, and high standard of living.

If you're looking for multifamily real estate investment opportunities, Las Vegas is an excellent market to research. Value-add opportunities are particularly good strategies, since there are abundant existing assets that may be undervalued throughout Las Vegas submarkets. If you pursue a multifamily investment approach, with proper due diligence and market examination, it could be a highly valuable addition to your portfolio.

Travis Cadman is a real estate investment professional with more than 30 years of experience in the U.S. and Canada.

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