Written by Jai Thompson
I manage a private equity platform deploying $13–18 million per quarter across multiple real estate asset classes. Our model is asset-based, escrow-directed, and execution-driven, allowing us to close in 23 days or less with certainty and clean title flow.
We acquire and operate across:
• Luxury estates
• Single-family residential portfolios
• Multifamily communities
• Hospitality and hotels
• Mixed-use properties
• RV parks and mobile home communities
• Golf resorts and destination assets
• Specialized housing and income portfolios
Capital is structured, operators are paid, reserves are built in, and all disbursements are controlled through escrow. We deploy with discipline, transparency, and speed—while tithing back to the communities we serve.
What follows is exactly why I do not buy single-family rentals in Las Vegas—and why I would buy the same house if it were structured as a Pretty Boi Recovery asset instead.
Market Rent: $2,500 per month
$2,500 × 12 = $30,000
$30,000 × 0.30 = $9,000
$30,000 − $9,000 = $21,000 NOI
$21,000 ÷ 0.10 = $210,000 value
But the FMV is $450,000.
Income supports $210K
Seller wants $450K
The gap is $240K
That gap is not real—it is emotion and owner-occupant pricing
Assume:
Loan = 75% of $450,000 = $337,500
Annual debt ≈ $27,000
DSCR:
$21,000 ÷ $27,000 = 0.78 DSCR ❌
(Lenders need 1.25+)
$21,000 ÷ $337,500 = 6.2% yield ❌
$21,000 NOI − $27,000 debt = −$6,000 per year
That is negative cash flow.
This is a retail home, not an investment.
The numbers do not lie.
I pass.
Now we change use, not the house.
6 residents
$1,200 per resident per month
6 × $1,200 = $7,200 per month
$7,200 × 12 = $86,400
$86,400 × 0.40 = $34,560
$86,400 − $34,560 = $51,840 NOI
$51,840 ÷ 0.10 = $518,400 value
Same house.
Different income.
Now the value exceeds FMV.
Loan = $300,000
Annual debt ≈ $24,000
$51,840 ÷ $24,000 = 2.16 DSCR ✅
$51,840 ÷ $300,000 = 17.3% yield ✅
$51,840 − $24,000 = $27,840 per year
$27,840 ÷ 12 = $2,320 per month
| Metric | SFH Rental | Pretty Boi Recovery |
|---|---|---|
| NOI | $21,000 | $51,840 |
| DSCR | 0.78 ❌ | 2.16 ✅ |
| Lender Yield | 6.2% ❌ | 17.3% ✅ |
| Annual Cash Flow | −$6,000 | +$27,840 |
| Works? | No | Yes |
I don’t avoid single-family homes.
I avoid low-income use cases.
Las Vegas rents do not support prices.
But mission-driven housing with real demand does.
When you align:
Income
Impact
Structure
Capital shows up.
This is why I don’t buy traditional single-family rentals in Las Vegas.
And this is why I will happily buy the same house as a Pretty Boi Recovery asset.
The math is simple.
The mission is real.
The cash flow is honest.
Structure over sacrifice.
Stewardship over struggle.
Every deal builds legacy.