Let's start with the scope of things. Just how much could the Tesla Gigafactory ignite Reno's economy and housing market?
Here we see why they don't call it a factory, but a gigafactory:
Let's just talk in terms of physical size. What does a structure that size do to an economy? It brings immediate jobs in the construction of the structure, it maintains jobs as a whole workforce is needed to run that place, and then it brings tourists--because Reno is now on the map and has one of the wonders of the world (so to speak!).
So what does that mean for your real estate investment portfolio?
If you have any real estate in the Reno area, hold it. Now is not the time to sell, unless you're converting up into more units. If your properties are frustrating and not bringing in a profit, consult one of our property agents. We are happy to give you some pointers on making your investment a success.
If you don't have any real estate in the Reno area, let's get started. The Tesla Gigafactory is scheduled to bring in 6500 jobs ranging from lower-level manufacturing to higher-level engineering and technology. That means a range of incomes and housing needs.
Just about ANY rental properties will be a good investment at this time. Look for properties close to major highways, and units that cover their cost today, with the ability to improve and raise the rents in the future.
Fix and Hold and Flip Properties:
Nevada mandated that at least half of the workforce at the Tesla gigafactory needs to be Nevada residents. The other half will need a place to call home! Assume that much of the other half will be higher level engineers, scientists and inventors. While Reno is striving to offer the best in Sciences and Engineering education, the Tesla factory will need the best of the best in 5-6 years. Look at properties with that timeline in mind. What improvements can be made to a property with a 5 year budget, and with a tenant in place for much of that time? Look for neighborhoods with artists and innovators; neighborhoods that are just starting to show improvement is where you'll find the bargains. Start your improvements on the exterior of the property to further advance the revitalization of the neighborhood.
Let the professionals do the day-to-day maintenance and management of your property. It is going to take 5-10 years before we experience the influx of revenue and jobs that Tesla promises. If you are living out of state, there's no reason to take on the hassle of managing your new Reno real estate. With a 5-10 year timeline, it's time to get comfortable, and we can help! With our proven track record of filling vacancies and maintaining properties, Clark Real Estate can turn your real estate investing dream into a reality.
“The present is theirs; the future, for which I really worked, is mine.”
― Nikola Tesla
What's so great about Midtown Reno?
There are a lot of people responsible for making MidTown inviting, our smiles are real. We are happy you are here. We are sharing with you our very best effort at being original, inventive, and courageous entrepreneurs. MidTown is really about a bunch of like minded business owners who realized they have something special right under their noses- the opportunity to change the face of a neighborhood, MidTown, comprised of fabulous buildings with character and quaint old houses crying out to be re-purposed. Likened to the California gold rush, people were drawn from many miles away to open up shops. They wanted to be next to people, eventually friends, they knew would protect their very ideals: breathing a life and new energy into Reno, a group of small business owners working together cohesively to better the shopping corridor. It caught on and stores from other locations began to migrate to MidTown to make a difference. The corridor was gentrified with new store fronts, new energy and new friends keeping a promise- the promise to be original and to stick it out together. Welcome to MidTown. [MidTown District Reno]
Looking for a property, or looking for a tenant
Whether you're looking for a home or a commercial space, in Midtown or beyond, we look forward to assisting you in finding the perfect place!
Please contact us so that we can get started on your property search!
If you have a property that's been sitting vacant, we would appreciate the chance to give your property a free rental review. We'll chat with you about your goals for your property, research the property, and let you know how much we can get it rented for.
As you can see from our limited available properties, we are good at filling vacancies! Please check out our Owners Portal to see a list of services we can provide for you, and then go ahead and request a free rental review so we can get started!
Clark Real Estate
305 W. Moana Ste C
Reno, NV 89509