What area in Las Vegas is best to look in, if I plan on buying a condo to rent out?

Asked by Randy, 89074 Wed Feb 1, 2012

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13
Robert Adams, Agent, Henderson, NV
Mon Feb 23, 2015
There are a lot of areas that will give you 6% + CAP rate that are in good condition, need little to no work. Please call to discuss further. 702.349.9175
1 vote
Crystal Elij…, Agent, Henderson, NV
Sat May 16, 2015
I would recommend Henderson or Summerlin area. You want to have a high demand area were you can demand a higher rent and have renters that will pay for it.
0 votes
Crystal Elij…, Agent, Henderson, NV
Sat May 16, 2015
I would recommend Henderson or Summerlin area. You want to have a high demand area were you can demand a higher rent and have renters that will pay for it.
0 votes
Crystal Elij…, Agent, Henderson, NV
Fri Apr 10, 2015
Being born and raised in Las Vegas, I know about all the different areas in my city. I am also a Property Manager and a Realtor so I can find you a great investment property and even manage it for you need be. Give me a call or email any questions. 702-353-0921 or crystalsellsvegas@gmail.com1
0 votes
Nicole Crich…, Both Buyer And Seller, Atlanta, GA
Sun Feb 22, 2015
Hello Randy,

I am a real estate investor myself and I buy and sell properties. For people like yourself I have a number of rental properties available that are fully rehabbed, property managed and in most cases already tenanted. The property managers are very efficient and the vacancy rate is very low. Please message me at elisegroupllc@outlook.com for more and I am sure I will be able to help you.

Las Vegas has proven to be a good investment area for both rental cashflow and appreciation so the majority of my inventory is currently in Las Vegas and the rental homes I have available are for sale by owner and they are available under warranty deed. Message me and I will send you a listing of what is currently available.

Regards
Nicole
0 votes
, ,
Wed Feb 18, 2015
Hi Randy,

If you're planning on buying a condo for the mere purpose of investment and you can afford to spend a few extra dollars I would seriously recommend doing so and putting the money you are looking to invest into a home as oppose to a condo.

My experience with condos are less than optimum and I will share those experiences with you. All condos within Las Vegas and or Henderson NV have HOA Fees and or Dues.

Those fees are variable fees and can change at anytime. Either up or down. Most of the time it is up. I call them variable fees as you have no control over the HOA and their fees. Therefore should the board decide to raise the fees, whether justified or not it directly affects your income and or rate of return.

I own a lot of property here in Las Vegas as well as Henderson NV and I also manage quite a few as well. Having said that I only own one condo that I am getting ready to list for sale and put the money into another property without an HOA. Additionally most of my property management clients that invested in condos in the past have asked me to sell their condos and re-invest the money into either multi family residential and or single family residential. Their reasoning is simply because the rate of return has dropped and continues to drop because of the variable HOA fee.

If you would like to discuss further or have any questions I would be more than happy to take the time and discuss. further.

Respectfully,

Becky Cordova
702-612-1584
0 votes
Steve Mikrut, Agent, Henderson, NV
Tue Feb 14, 2012
The Falls, Vistana, Copper Creek, etc. They are all over and they sell and rent like hotcakes.
Web Reference:  http://www.stevemikrut.com
0 votes
Sharon Klatt, , Henderson, NV
Thu Feb 2, 2012
In my resesrch I have found the Green Valley area to be the best rental pricing on condos. If you buy a $ 50,K unit you can get a $800.mo income less your HOA fee's , Ins. and taxes. You should net around $600. If I can help you with any real estate needs please email me .sharonklatt@embarqmail.com
0 votes
Aneta Ivanova, Agent, Las Vegas, NV
Thu Feb 2, 2012
Hello Randy,
Of course it is a lot of answers on that question. I agree with colleagues. But if you want exactly to know the numbers, I could show you exactly how to invest to minimize the time of return of investment. The simple method is to use a rule -how much you want to invest, how much is a rent in specific area, and how long it is takes to have a your money back. Call me to discuss, I am sure that you are going to be satisfied with the answers. I will be happy to work with you and make this happen.
0 votes
David Cooper, Agent, Los Angeles, CA
Wed Feb 1, 2012
Randy: I have cash flow condos in a number of Las Vegas area's, so it makes a big difference if I knew how much you plan to invest. Financing for condo's is almost out of the question, too many foreclosures, too many non-paying HOA dues, too many vacancies. So your decision is how much cash you have to spend?
I prefer 2 bed over 1 bed to maximize cash flow, but the 2 bed costs more


http://www.trulia.com/profile/lasvegaswinner- <-DAVID COOPER'S Profile
Buyer's Agent For Investors CALL 702-499-7037
0 votes
Michelle Lar…, Agent, Henderson, NV
Wed Feb 1, 2012
There are so many variables to that question if you like you can call and we can discuss your needs.

Michelle
Web Reference:  http://michellelarson.com
0 votes
Andrea Packo, Agent, Las Vegas, NV
Wed Feb 1, 2012
Randy. This is a question I have been asked by many of the investors I work with. There are many good investment areas with an excellent ROI. It all depends on your goals. The cheapest purchase is not always the best long term choice. Feel free to call and let's discuss your plan. 702-279-7679
Web Reference:  http://andreapacko.com
0 votes
Mark Miller, Agent, Henderson, NV
Wed Feb 1, 2012
Randy,

There are so many different answers to your question depending on your needs and wants. You are welcome to give me a call at 702-321-4781 or email me at mgmiller711@gmail.com. I will be happy to answer your questions and help you with the right investment property to add to your Real Estate portfolio.

Sincerely,

Mark
0 votes
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