Joyce, Home Buyer in Michigan

Is now a good time to buy rental property in the Las Vegas area? What area is best for rentals and do condos or houses rent better?

Asked by Joyce, Michigan Thu Jan 6, 2011

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8
Steve Quinta…, Agent, Albuquerque, NM
Fri Apr 6, 2012
Compare your projected monthly income with your projected monthly expenses and you will know.
0 votes
Beth A.Mitro, Agent, Henderson, NV
Mon Mar 14, 2011
Yes, Now is the time. Really! Vegas is 50% off. You can get a home dirt cheap right now, and with so many people out a home due to short sale and foreclosure they need to rent. If I had the cash or better credit I would scoop up a few and live off the positive cash flow. Go with a home where the schools are desired. That's usually a good bet. I live in Green Valley and love it. Been in the business since 04, call or email me if you want me to do a search for you.
Beth
0 votes
Lisa Lundt, Agent, Henderson, NV
Thu Jan 6, 2011
It is a good time to buy income property in Las Vegas. With prices so low, the return on investment can be quite good. Properties which are renting the most quickly are those priced at or below $1000. I would suggest focusing on the Henderson and southeast area in Las Vegas. We recommend single family over condo for greater return on investment.

Lisa Lundt, GRI, E-Pro, ABR, SRS
Short Sale Genius Elite
Universal Realty, Inc.
2490 Paseo Verde Pkwy. Ste. 115
Henderson, NV 89074
(702) 401-2349
888-591-9874 (fax)
Lisa@LasVegasHomeSpecialist.com
0 votes
Ernie Gonzal…, Agent, Henderson, NV
Thu Jan 6, 2011
In short the answer is yes. Las Vegas offers many businesses the renters are attracted to such as Nellis Air Faorce Base on one end of the valley and The Sprip on the other. In addition there are ammenities that attracted renters like Lake Mead and Red Rock National Park. While houses vs condos both have their pro's and con's, it really depends on your individual financial goals.
I will be happy to answer any questions you have in regards to your post as well as share with you the many properties that we have in both active and per-marketing stages.

Feel free to give me a call or shoot me an email to ernie@gonzalesteam.com
Ernie Gonzales
Keller Williams Realty
702-419-3410
Web Reference:  http://www.gonzalesteam.com
0 votes
Deborah Dall…, , Henderson, NV
Thu Jan 6, 2011
In my many years of experience, houses rent better than condos as you are not competing with apartments; and Las Vegas has had so many foreclosures and short sales, many of the people who lost their homes are now forced into the rental market since their credit will no allow them to buy.
0 votes
Larry Roede…, Agent, Henderson, NV
Thu Jan 6, 2011
Hi Joyce, rental properties should be evaluated by their net return on your investment. All categories and price ranges are potentially profitable. My experience has been lower priced condos/townhouses may have a higher turnover rate, leaving them unoccupied at times. Single family homes offer some stability because owners short selling their home are needing to find a home for their family and unable to purchase for several years. Generally these people have reasonable income but unable to support the previous inflated mortgage payment. I would be available for more specific information and dialogue.

Larry

Co-ordinating Real Estate for You

Larry A Roeder LLC
REALTOR ®
ECO Properties
1720 W Horizon Ridge Pkwy Suite 110
Henderson Nv 89012
cell: 702-755-0176
email: larry@roederandassociates.com
Financial Options: jackieroeder.mortgage@gmail.com
0 votes
Louie Frias, Agent, Henderson, NV
Thu Jan 6, 2011
Anthony makes some great points. The advantage of owning multiple units is that income still arrives when another is vacated. The advantage to a SFR as an investment is the better appreciation. The disadvantage? It's either 100% rented, or 100% vacant.

My investment portfolio consists only of SFR's on the realty side.

One step you should take is to begin monitoring vlaues in the market you're considering investing in.

MY clients enjoy FREE accee to the Las Vegas MLS without having to register. You can access it @ HowToBuyABankHome.com

Additionally, I can place you on an automated notification system that will alert you via email whenever a property meeting your criteria enters the market or has a change in listed price or status.

All by simply visiting my site.

Good lck!
0 votes
Anthony Rick…, , Henderson, NV
Thu Jan 6, 2011
Yes, many investors are purchasing 4-plexs now. With 4-plexs there is usually deferred maintenance and can be an expensive proposition. The next best bet would be the single family home. Any and all areas can work. Your decision should be based on how many properties you would like to purchase and how much you are willing to invest.

You can obtain additional information at my Company website - http://www.1stStopProperties.com

Anthony S. Ricketts, Broker/President
1st Stop Properties, Inc
702-885-7400
0 votes
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