Condos are a little bit of a problem here now, because so many of them do not qualify for financing, due to circumstances like too many non-owner occupied units in the complex, financial problems with the HOA due to all the foreclosures, etc. However, if you have the money to purchase all-cash, you can get some good deals. Many of the units will be foreclosed properties or short sales, and may require some rehab to make them presentable for a renter. The good news is the cash flow can be very good for the amount of money invested, even discounting other ways that you might have received a return on the money. Some things to watch out for: CCR's that forbid rentals, excessive HOA dues or upcoming assessments, and construction defects and class action lawsuits. Nevada law requires the seller, through the condo management company, to provide you with copies of the CCRs, By-Laws, Financials, and notifications of lawsuits on any units you may make an offer on. Using this information, you should be able to analyze the soundness of your investment. Units around the university are older, do not appreciate as well, and may require more upkeep, but are easy to keep rented. There are some older units close to the Strip, and then the new high rise towers, which may be pricier than you want to commit, and have extremely high association fees. Looking a few miles from the Strip may be the best for you in terms of or the money you want to spend. There are many good property management companies in Las Vegas and Henderson, and we can steer you toward one. If you're careful in your purchase, you can do quite well as an investor in this market. Our biggest problem right now, a very low inventory means not a lot of choices. Good luck, and if we can help on any way, please let us know.
Mike Pristow, Donna Hodge & Associates
Keller Williams Realty The Marketplace
Investor's Dream! 9% CAP rate on this 1 bedroom condo ~ 111 Van Wagenen Henderson, NV 89015 ~ FOR SALE $49,200. http://www.lvrealestatehelp.com/blog/investors-dream-9-cap-r
$45,000 2+2 Condos can get you $950 a month.
David Cooper. Investor and a Buyers Agent with 35 Years Experience http://www.facebook.com/davidcooper.lasvegas
Call 702-499-7037 Since 1917 Realty and Property Management, Jay Rosen, Broker
Horizon Realty Group
702 785 2526
DAVID COOPER Trulia Voices INVESTOR-BUYERS AGENT
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CALL NOW! 702-499-7037
Since 1917 Realty - Jay Rosen,Broker 702-739-8820
My best advice is between Summerlin and the Strip.
DAVID COOPER Foreclosure Buyers Agent at Since 1917 Realty 702-499-7037
Get Your List of HUD Properties and Government Foreclosures
my name is Mike. Any where near the strip or near the University or any of the colleges is a good area for maximum return for rental property. Currently there are just over a 1,000 condos and townhomes on the market making it difficult to find a good rental property. I would love to assist with your search. I do have a townhome that you may want to consider and it is listed for under $50,000.. Contact me and I will help you locate a property that may be right for you.
3042 S. Durango Dr.
Las Vegas, NV 89117
Matthew and Kim Dâ€™Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
here are the best selling zip codes for 4th qtr 2011
***** THIS is where I would buy.
University not great area for appreciation, strip is overpriced. 5 miles west of strip, toward Summerlin. 2+2 going for 45,000 and rents for $750/month. Be care HOA fees Call me
or send me your email
DAVID COOPER Since 1917 Realty. Foreclosaure Purchasing Agent and Property Management