Home Buying in Las Vegas>Question Details

Lily, Home Buyer in Texas City, TX

Seek advise on where to invest in Las Vegas

Asked by Lily, Texas City, TX Sun Apr 10, 2011

I wish to purchase an investment property in Las Vegas, and my target market is sub $100,000 single family homes.

Could anybody give me some advice on the rental market in Vegas, such as which suburbs is most sought after by renters? Among all the suburbs such as Summerlin, Downtown, Paradise, Winchester, North Las Vegas, Sunrise Manor, Henderson, Spring Valley, which suburbs have high vacancy rate and is hard to find a renter? Which suburbs have high crime rate?

If I bought a single family house around $50,000 to $100,000 range, how much rent can I get per month? Which kind of property do people like most, 3 bed 2 bath? Normally if a house have 3 beds 2 bath, should I choose the one have biggest square footage? Do renters like a big yard

I read about there is seven fault zones in the Las Vegas Valley, they are:

Frenchman Mountain Fault
Whitney Mesa Fault
Cashman Fault
Valley View Fault
Decatur Fault
Eglington Fault
West Charleston Fault

Which subsurbs is in the above Fault Zone

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Answers

8
My investment in Las Vegashouses is based on what my property manager tells me she can get in rent. I look for the ratio between rent and purchase price. I have the top 10 neighborhoods where she gets the most rent for the actual SOLD prices.
There are over 6400 Bank Owned REO's in Las Vegas as of April 7, per REDLOC and only 1400 in MLS. There is plenty of investment opportunities for smart money, and HOMEPATH REO's offers a 10% down for investors. Questions?? email or call

David Cooper. Las Vegas Foreclosure Investor in Bank Owned Houses with huge Cash Flow. Call for FReee
list. +1-7024997037 not a real estate agent.
0 votes Thank Flag Link Mon Apr 11, 2011
Lily, like the other agents mentioned, there hasn’t been any noticeable significant activity on the fault lines in the valley. We’re not seismologist either, we would probably point you to map and show you what you already know. The more you look for fault lines the more you find. I wouldn’t be surprised to find some in Texas. It’s a hot fear topic thanks the Japan quake. Before that everyone was worried about living in a flood zone after Katrina. Flash floods and earthquakes can happen anywhere.

Due to the Realtor code, real estate agents are not supposed to steer buyers into one particular area of town. So you won’t hear too many of us pushing you to one neighborhood over another. Given your criteria of 50-100k, you’re battling with a lot of investors who can all afford your price range right now for flip and rents with positive “ROI” (Return on Investment). Most are offering cash with quick close times. These people are difficult to compete against when you have a loan and long closing times. Properties are moving fast in this town.

In my experience most renters don’t want to deal with landscaping. I’d be careful with the large yard search. HOA’s love to fine homeowners when a yard is not kept up to their standards. Many of the current renters are people who have just been foreclosed on and have pets. You could be cutting out a large buyer pool if you do not allow pets and require stellar credit.

I would suggest finding a home with proximity to the Strip. On average about 1 person out of every household works on or near the I-15 corridor. Perhaps one of these maps could help you determine areas of town when searching for a home. http://www.cantafford2wait.com/images/Maps

As for crime rates I would start with the Las Vegas Metro Crime link. http://www.lvmpd.com/crimeviewcommunity/ I have access to others for Henderson and North Las Vegas.

Feel free to contact me if you have any questions.

Mike Madsen
REALTOR / Marketing
Pulse Realty Group, LLC
Cell: 702-LAS-AREA (527-2732)
Team: 702-608-4MLS (608-4657)
Fax: 702-664-0464
mike@vegasevolutiongroup.com
http://www.cantaffordtowait.com
0 votes Thank Flag Link Mon Apr 11, 2011
Hi Lily,
Have you had the chance to visit Las Vegas? There are many wonderful pleaces throughout the valley.. It all depends on what you are really looking for. Many renters will want a yard for the simple reason of wanting an area for the children and pets to play... I hope this was of a little help to you.

Penny O'Brien with Simply Vegas
Penny@PennysProperties.com
702.321.9383
0 votes Thank Flag Link Mon Apr 11, 2011
I just had my buyer do a survery of the Las Vegas Fault, why this is coming up I have nor ideal.. Just since Japan earthquck.. The Fault is Frencman .. but none of these fault are doing anything.. but no one can say when it will ever all of the sudden get active. But for now "no worries"... I have a really good relocation booklet to send you if you like that will give you good information about where to buy.. You would alwayd do better with a 3 bedroom, 2 bath 2 car garage with at least 1500 sq ft starting and medium size yard... big yard get neglect as no one want to work out in the heat. You can sent me a email rmarie@exitrealty.com or call me at 702-232-5407.. I will be glad to work with you as I already work with investor..
0 votes Thank Flag Link Sun Apr 10, 2011
lily - my name is allan lovinger and i am a realtor and property manager in las vegas. in the price range you are looking summerlin is mostly not available. the best investment i have found are 3 and 4 bedroom homes. this is what my clients are getting and my referrals are buying. as for areas and prices they are all different. it is best to work with someone who can find the properties and check the rental market in the area for you. i do not think there is a best area but there are better and faster rental areas. in this market it is a combination of location and price. if you have any questions please feel free to call or email me. 702-743-3461. thanks, allan
0 votes Thank Flag Link Sun Apr 10, 2011
Hi Lily,
I will gladly assist you in acquiring investment properties in the Las Vegas area.
We also have a property management division to lease, manage, maintain, and care for the properties as necessary after you purchase them.
I have worked with many investors from all over the world and will gladly provide references.
Please contact me anytime.
Best,
Russell

Russell Arnold
(702) 501 2992
Innovative Real Estate Strategies
0 votes Thank Flag Link Sun Apr 10, 2011
Hello Lily,

It looks like you have stumbled upon some scientific data but not completely aware of all there is to know about the fault lines in Nevada. As you will read from the following link I have provided under the FAQ: "Is any place safe from earthquakes", you will find there are far worse and common hazards to consider in other areas of the country. http://www.seismo.unr.edu/FAQ#21

As for investing in Las Vegas, it is my opinion this is the best environment for investors and home buyers than we have ever seen. Record low home values, low interest rates and a strong rental market providing on average a profit of $300 per month over a loan payment on the same home. The area of town will determine your rents and vacancy rate.

Contact me directly and I will put together a ROI and strategy that will best suite your needs. Every investor is different.

Sincerely,

Heather Etchings, REALTOR®
Proud Recipient of the Las Vegas Chamber of Commerce
"Customer Service Excellence Award"
"New Home Platinum Agent"
Easy Street Realty
1421 E. Sunset Rd. #10
Las Vegas, NV 89119
Cell: 702-277-7071 Fax: 702-446-0458
E-mail: HeatherEtchings@gmail.com
http://www.HeathersHomesLasVegas.com
"Making Clients for Life"
0 votes Thank Flag Link Sun Apr 10, 2011
. Don't remember an earthquake in Las Vegas in the last 35 years. I invest in areas right outside of Summerlin, and subscribe to a foreclosure service that gives me 6000+ addresses of every Bank Owned REO in Las Vegas. Only 1400 are in the MLS, and most of the Bank REO's are being purchased by investors at $60,000 to $100,000 and renting at $900 to $1200 a month.
Look for cash flow of $200 to $400 a month rent and ROI of 15%+ on 25% down for investors. There are foreclosure programs for investors with only 10% down, so might qualify for more than one house.

David Cooper. Las Vegas Foreclosure Investor in Bank Owned Houses with huge Cash Flow. Call for FReee
list. +1-7024997037 not a real estate agent.
0 votes Thank Flag Link Sun Apr 10, 2011
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