General Area in Las Vegas>Question Details

Ledgergirl, Home Buyer in Auburn, WA

What area in Las Vegas should I buy a house to have as a rental with long-term plans to be a retirement/snow-bird home for myself?

Asked by Ledgergirl, Auburn, WA Tue Apr 3, 2012

I will be in Las Vegas from Sunday, April 8 to Thursday, April 12 checking out real estate. I have rented a car so I'm able to check out all the areas.

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11
Hi, Ledgergirl.

Although I see your intentions, many investors have come to the reality that it is NEVER....EVER....a good idea to mix the two. Our recommendation is that you decide whether you want to purchase the home as an investment, OR as a home for yourself. With the unpredictability of our market here in Las Vegas and throughout the country, you should strive to maximize the money you place into Real Estate.

Here are a few tips:

Investors who “swing for the fence” rarely make a home run or end up making a run home. Reasonable returns will make consistent income for solid investors. Your real estate activities should be treated as a business in order to reach your goals. A business plan identifies objectives and determines a viable course of action. A business plan also allows investors to visualize the large picture, which helps maintain focus on the goals rather than on any minor setback. Real estate investing can be challenging and demanding, and a solid plan can keep investors organized and on task.

The more you understand a particular market, the more qualified you will be to make sound business decisions. Understanding current trends, including any changes in rents, mortgage rates and the unemployment rate, to name a few, enables good real estate investors to plan for the future. Being familiar with specific markets allows investors to predict when trends are going to change, creating potentially beneficial opportunities for the prepared investor.

It is important to stay up to date with the laws, regulations, terminology and trends in real estate. Keeping current requires additional work, but it will pay off in the long run. It is also wise to continue learning different areas of technology that pertain to real estate. New web sites are created every day to make it easier for investors to make better decisions.

Your group of specialists can be comprised of well-chosen mentors, business partners, CPAs, real estate agents, property managers and dozens of trades that support your real estate business. The costs associated with learning how to do a task is huge compared to the savings a professional can provide. Real estate investing is complicated and requires a great deal of expertise to engage profitably in the business. Most agents that specialize in real estate investments bring all these people to the table.

Contact us anytime for more specialized information,

Info@LVPropertySearch.com
0 votes Thank Flag Link Tue Sep 11, 2012
Hey Ledgergirl!

It really depends on what kind of Return on Investment you are looking for and how much you want to spend. There are many different market segments and the property that gives you the best return may not be the property you want to live in at a later point in time. The best way to come to an appropriate decision is actually to work with an agent that can show you different areas on the computer first and what your return would be before you actually just go out and drive areas. If you are interested in doing some research first, we would be happy to review this with you on Monday. Just give me a call at 702 497-8029 and we will reserve some time for you.
0 votes Thank Flag Link Wed Apr 4, 2012
There are many desirable communities in the Las Vegas Metropolitan area. If the goal is to have a retirement home later, I would choose the area with the things you would be doing when you come here to live. For instance, if you will be taking classes at UNLV (I heard that seniors can take classes for free) then I would look for a place in the SE close to the college. If you will be flying in and out of Las Vegas a lot, I would look for a place closer to the airport. SE If you are going to be going to the Las Vegas Strip a lot, the SE. However, if you want a larger lot and solitude, I would look in the Far Northwest or in the far South Henderson area. I could send you a publication if you are interested.
Liz Zeigler
0 votes Thank Flag Link Wed Apr 4, 2012
Auburn Wash. Driving a car around Las Vegas is not going to give you the specific knowledge of what makes for a good home for you. It would be better to look at home in your specifi price range
Most retirees look toward Summerlin for it's recreation for seniors and it's great shopping. I suggest looking in neighborhoods just outside Summerlin wwere the prices are lower but you can still take advantage of the Summerlin shopping, entertainment, and recreation and still be within 10 milre of the strip.
If you forward me your email or call 702-499-7037, I can prepare of available HUD Properties and Government foreclosures in that area that you can then quickly review when you are here

DAVID COOPER "SINCE 1917 REALTY" Investment Property Purchase and Property Management 35 Years Experience 702-499-7037 davidcooper@lasvegaswinner.org
Look at my resume http://www.linkedin/in/lasvegaswinner
0 votes Thank Flag Link Wed Apr 4, 2012
Anywhere in Vegas would be a great place, ask yourself what do you like to do? Closer to the strip, nearby downtown or closer to the mountains. If you take the beltway around Vegas you can see most of it. You might also want to check the weather in the different area. The more south you are in Vegas the warmer it is. Also do you like the older homes or an newer area. Would love to meet with you in person and tell you what the area has to offer. Call me and we can find a great house for now and for later.

Jan Ratzlaff
702-379-7773
Wardley Real Estate
0 votes Thank Flag Link Wed Apr 4, 2012
Hi
I am fond of the northwest area to locate a fair priced home for a rental! However, since you are considering the home to be more than just a rental, perhaps a Master Planned Community would suit you better!? Please call/email me for some other options you are looking for in a purchase and I can show you plenty of great homes thru out the valley! Thank you for posting and look forward to assisting you in your search, Raina

raina.musser@gmail.com
702-232-1287
Web Reference: http://vegashomesforu.com
0 votes Thank Flag Link Wed Apr 4, 2012
here are the best selling zip codes for 4th qtr 2011

89052.....422 sales
89074....339 sales
89108....431 sales
89117....343 sales
89122....363 sales
89123....395 sales
89139....366 sales
89147....354 sales
89148.....393 sales
89149.....383 sales
89178....416 sales
89183.....326 sales
89031....544 sales
89032.....328 sales

DAVID COOPER at "Since 1917 Realty" 702-499-7037 Investment Property Sales and Property Management Single Family homes, condos, town homes 35 years experience
http://www.lasvegaswinner.org
0 votes Thank Flag Link Tue Apr 3, 2012
My wife and I have lived in Vegas isince 1976 and have lived all over town. I think you would be happiest for investment returns and have pride in ownership in Green Valley, Henderson, 7 Hills, Anthem which provides everything renters and owners want and need and safest area in Vegas. We currently manage over 350 homes/condos and have been in the property management business close to 20 years so we know this market very well. We'd like to speak with you over the phone so we can better help. We can create a custom search for you to send you homes we think will fit the bill for strong rental untill your ready to move into it. Thanks, Matt and Kim.

Matthew D’Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes Thank Flag Link Tue Apr 3, 2012
Agreed. The NW side and N sides of the city are doing fine for rentals. Prices per sq ft and choices are better in these areas. Summerlin is higher per sq ft and you have SID/LID fees in some areas there you want to watch. Where you look also depends on what type of home you want -to home or condo or townhome or even highroad living. I too am native to the city and would also be pleased to assist you with your search. Drop me an email and I will do the
0 votes Thank Flag Link Tue Apr 3, 2012
Also I would like you to know I have my CRS designation and Im certified in second home buying.
0 votes Thank Flag Link Tue Apr 3, 2012
There are many wonderful areas around Vegas. I am a native of Las Vegas and know the areas very well. Rentals are doing well all over the city right now because of the foreclosures, there is a big demand for them. I personally like Centennial Hills, South and North Summerlin,. Green Valley and silverado Ranch areas are very nice as well. If you call or email me , I can give you a lot of information on Vegas and help you choose whats right for you. You can reach me at 702-239-6900 and Rhondasellsvegas@gmail.com . I hope to hear from you.

web site is http://WWW.AllLasVegasHomes.Com
0 votes Thank Flag Link Tue Apr 3, 2012
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