Home Buying in Las Vegas>Question Details

Dchang, Home Buyer in Las Vegas, Las Vegas,...

I'm interested in buying some rental properties in the Vegas or Phoenix area. I'm a doctor so I would like to

Asked by Dchang, Las Vegas, Las Vegas, NV Sat Jul 25, 2009

concentrate the houses near hospitals or other areas with medical residents since i know they are generally good tenants. Is the rental market good or is there an over supply. Also, I would use a management company. Any suggestions, references?

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3 bdrm, 2 bath- $82K
3 year lease 1100/month
Tenant has occupied for past ten years
Proof of all payments
Includes property management if needed

Let me know if you are interested.
0 votes Thank Flag Link Mon Aug 17, 2009

The market is picking up in Vegas right now. Prices have been staying pretty much stable and in some areas starting to creep up a bit. This is due to the fact that we are a bit low on inventory right now. Many investors have realized the tremendous opportunity here and started to take advantage of it esp with the low rates and the first time home buyer tax credit soon to expire.

Banks have been holding on to properties as to not overwhelm and crash markets, so we currently are seeing many homes with multiple offers and selling for above list prices.

The rental market is still very strong although lately many landlords are making exceptions for things such as foreclosures on people's credit to rent the properties out.

There are many wonderful property management companies that I would be happy to recommend and of course you make the final decisions as to whom you would prefer to work with.

There are many hospitals in town and therefore many areas that can be seen as an opportunity depending on your price range and your long term goals for this property.

If you have any additional questions, comments or concerns, feel free to contact me. I have over 10yrs experience here in the Las Vegas valley and am here to be of service.

My contact info is as follows:

Anna Wilk
Pegasus Properties
Office 702-247-9002
Cell 702-788-0019

You can also search properties on my website at http://www.myglobalagent.com.

Good luck and have a wonderful day!
0 votes Thank Flag Link Tue Jul 28, 2009

Nobody knows what property values will do right now. Some agents may just want to sell ASAP and tell everyone to buy, but there are other agents like myself that are honest with their opinion. I admit to everyone that I have know idea what will happen with the property values in the near future. Of course I have my own opinion, but it's only an opinion.

There is one very important factor to look at in this argument though that many people do not realize. If property values do in fact decrease a bit more, this means that more buyers will jump in as well. By this happening, there will be even more competition for the available homes on the market. This will eventually drive things back up again to a more balanced level. Bottom line, if you can get a great deal in this market right now, then buy right now. If people wait it out and the market drops a bit more, then that great deal may not be around because of your competition. Just a thought.
0 votes Thank Flag Link Mon Jul 27, 2009
If you can wait to invest in Las Vegas. I would advise not to rush, the prices WILL be going down still this year. Sure, all agents want to sell ASAP. People are losing their jobs by the day and all is related to that big money making machine which is slow and slowing because of the global crisis. Assess well all aspects. I'll be investing too but later this year probably, I'm still studying the vegas situation.
0 votes Thank Flag Link Sun Jul 26, 2009
If you're considering financing the properties, be sure to consider the financing guidelines that have changed from recent years and are tougher on investors - http://budurl.com/u8xs. Although Fannie Mae has removed some restrictions that they put in place last year, there are many lenders that are enforcing their own internal restrictions...as all the agents have said, this is a great time to fine value in the Las Vegas real estate market and we are working with many investors.
0 votes Thank Flag Link Sun Jul 26, 2009
The rental market is still strong in Las Vegas. We have sold property in the areas you are interested and have some suggestions about other areas of the city you might want to consider. My team and I have worked (and are working with) several investors and would be happy to give you references as well as a recommendation for an excellent property management company. You can reach me at 702-493-8033.
Web Reference: http://www.lvrealty.net
0 votes Thank Flag Link Sat Jul 25, 2009
Hello Dr. Chang,

It is definitely a great time to be an investor in Las Vegas now. We own a full service real estate firm called PROPERTY SOURCE. Our investors are buying homes and immediately getting positive cash flow. Much better that what the banks can do for you now a days. We would love to help you in your search. We have been in Las Vegas our whole lives and know this town like the back of our hands. Our company handles everything from Land, commercial, investment groups, property management & residential. Our company focus is YOU & we have survived all of these years because of repeat business. Maintaining Professional Relationships are the key to our success. If there is any thing we can do for you please feel free to call us anytime.

Tom and Lisa Fehrman
(702)804-8123 office
Property Source
0 votes Thank Flag Link Sat Jul 25, 2009
Hello Doctor Dchang,

I would be more than happy to work with you in finding some excellent rental investment deals! I know some excellent areas that are very close to some of the hospitals out here. The rental market is very strong right now and we shouldn't have a problem getting the properties rented for a decent amount. There are a lot of positive cashflow properties floating around the market right now. I also have several references for property management companies that I can connect you with when it is time to start the management process.

Feel free to call me to discuss your situation more in depth and I will work hard to get you what you need. By the way, most of my clients are investors, so I am very familiar with handling these deals. Hope to hear from you!

Len McGuirk, Realtor
Prudential Americana Group
Cell: (702) 203-6688
0 votes Thank Flag Link Sat Jul 25, 2009
We are specialized in investment properties also we have in-house property management team. I also have another client who is targeting the same area (around hospitals), I have found great deals for him and I am sure we are not going to have any problem finding what you need also. I agree with what you said "good tenants" it is very important who is renting your property. I would be very happy to help you if you have any question or concern you can reach me at: 702-296-1883

Fariba Raouf CRS, BA, BS
Prudential Americana Group
0 votes Thank Flag Link Sat Jul 25, 2009
Hi there,

We have a specialized team that just handles rental investments. We would be honored if you would permit us to discuss your plans with you.

Feel free to search the Las Vegas MLS using our search tool at http://www.lasvegasmlsproperties.com and give us a call at 702-604-7739 to discuss your plans.
Web Reference: http://www.teamcoldwell.com
0 votes Thank Flag Link Sat Jul 25, 2009
If you are interested, I can email you the rental stats in Las Vegas. As a military spouse, I deal ALOT with the military and they make good tenants too:). There are definitely some deals out here right now and it is a GREAT time to buy investment properties. In addition, many of these homes are in short sale and may already come with a "built-in tenant". My last 3 investors purchased homes with tenants already in place and they were GREAT tenants. If you would like more information, please don't hesitate to contact me at ginger.jones@cox.net or my cell phone is 702-622-3884. Have a great weekend. Ginger Jones

Ginger Lynn Jones
702-360-2030 (Office)
702-622-3884 (Cell)
0 votes Thank Flag Link Sat Jul 25, 2009
When you locate a realtor have them pull homes Days on market for lease over past 3 years. I am a real estate investor and consultant to many across the world what works best in a business model for short / long term goals of investor.

Management companies usually take approx. 10% - or + of monthly rent. I use to use management companies till they were destroying my homes took that side of my business practice myself manage....


National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sat Jul 25, 2009
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