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Old 12-25-2010, 08:17 AM
 
Location: state of enlightenment
2,402 posts, read 5,261,540 times
Reputation: 2500

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Quote:
Originally Posted by Castle Cliff View Post
If you only this amount would you bother? Or save a little more for something a bit better? I've got cash and can't get finance so I figure go in with cash and make a bit of movement on listings?

What's the best zip code I could hope for do you think?
Is this an investment or to live in? If an investment there are places with better ROIs like Wilkes-Barre/Scranton, Easton/Allentown in PA; Pueblo, CO; Stockton, CA.
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Old 12-25-2010, 11:36 AM
 
Location: Here and there, you decide.
12,908 posts, read 28,150,881 times
Reputation: 5058
Quote:
Originally Posted by Castle Cliff View Post
I believe HOA's are the work of the devil! Just kidding but when was the last time you heard good news about them? SFR's are definitely possible. Not the best thing around but not the worst surely? Here's one brought by a person I know of for 58K

5737 Baffy Circle, Las Vegas NV - Trulia
rough area. might be ok as a rental though... me personally wouldn't have bought there.. for 70, i would have bought a condo in aliante or similar..
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Old 12-25-2010, 11:40 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,389,673 times
Reputation: 2661
Quote:
Originally Posted by Castle Cliff View Post
I believe HOA's are the work of the devil! Just kidding but when was the last time you heard good news about them? SFR's are definitely possible. Not the best thing around but not the worst surely? Here's one brought by a person I know of for 58K

5737 Baffy Circle, Las Vegas NV - Trulia
I doubt you can get 12% off that tract...probably do 10% though...That tract though is OK but the neighborhood can get pretty difficult.

The trick in all these is whether you wish to play for appreciation or not. That tract almost certainly will appreciate little ever. There are less lucrative tracts in the nw and sw that have very high potential to do well in an upturn...name your poison.
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Old 12-25-2010, 03:15 PM
 
140 posts, read 279,757 times
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If I had 65K I would buy a condo at Isla at South Shores (also known at one time as Catalina Shores at South Shores). I believe the HOA fee is a bit high at @ 180/mo for a 2 BR, but there is a lot of well-tended grass and many lovely shade and evergreen trees. Good location at Lake Mead/Buffalo and the best part is it's less than a mile walk to the lakes in the community. Those 2 BRs are 1000 sf and a good layout with BRs on either side of the LR. They appear to list around 58K but I have a feeling they sell for more like 63K. I rented there for several months and it was very quiet despite being located next to a rental apt. community (the Mariner). You could rent it out quickly for $800/mo or wait a bit longer and probably get $1000/mo for the 2BR. Any higher and you're competing with house rentals in the area, which I believe start around $1200/mo but may have gone down since I last looked into that.
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Old 12-25-2010, 09:48 PM
 
47 posts, read 75,062 times
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Rentals. I'm in for 5years then out hopefully. low entry into the market and yields are all I'm focussing on at the moment. Finding ok zips has been the hard part for me. Sounds like I should be looking in the areas you just mentioned My guess is I'll have to go the rehab strategy to get the best yields. Usual worst house in best street. I'll Look at condo's but SFR's will win the real-estate race long term I believe?
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