[Californiapch]

3 or 4 of us are thinking about buying a condo to share in the USA. We are all in our 40's so not ready to retire so thought of the sharing idea.

We are thinking of forming a LLC as if someone dies estate stuff is harder to deal with with multiple people.

We don't plan to rent it out, we want to share the monthly costs and use it as many times as we can get to Las Vegas.

What things have Canadians learned buying a property in Las Vegas.


Any tips are great on any subject.

Thanks,


Brian

[Buzz123]

Two things Canadians need to learn about buying property in Las Vegas:

a. The odds of that ruining your friendships is about 100%; and 2. There is a line at the bottom of your check for your signature, and a line above that to put in the amount.

I do believe you'll find that about half the high rise condos here are owned by foreigners with too much money to blow on gambling.

[Californiapch]

Well, we don't have too much money so we want to go 4 ways.

I have been to Las Vegas 20-30 times in my life and don't have a gambling problem. Vegas and LA are my 2 fav places.... that is why I have a CA PCH handle name..... like both places.


Good tips would be great please. I sure some Canadian's on here are curious to find out the steps and do's and don'ts.


Brian

[eventusstultorummagister]

Originally Posted by Californiapch

Well, we don't have too much money...

In reality, equates to...

Shoebox with window/patio/balcony facing parking lot in a sketchy neighborhood.



P.S. Have you and your friends been to Florida? Beautiful beaches and weather. Very similar condo pricing. Try Port Orange or Sarasota. Don't follow the pack, lead...

[Vegas Joe]

It is very hot here in the summer and, unlike in Canada, today is a major holiday here and most people will go shopping tomorrow. Oh, and if you move here, you are on your own with health care. We don't do that socialist stuff here.

[Californiapch]

Originally Posted by eventusstultorummagister

In reality, equates to...

Shoebox with window/patio/balcony facing parking lot in a sketchy neighborhood.



P.S. Have you and your friends been to Florida? Beautiful beaches and weather. Very similar condo pricing. Try Port Orange or Sarasota. Don't follow the pack, lead...

One of the 4 people in this group goes to Florida. That is too far away from Western Canada.

Well, I don't want to spend too much money so I can also buy a Corvette ZR1 and a Jet Ski Ultra 300x

So, we are on budgets for various reasons.... I recently got bored of my Z06. haha.


The two places we are watching is Chateau Nouveau and Chateau Versallies. I have seen about 30 condos and watching a few more too.

Yes, I know the Versallies complex has repairs coming soon. I do my checking, just looking for any info and tips people can provide.

I do my fair share of helping people on all type of forums and looking for the same here.

Thanks,

Brian

[Californiapch]

Originally Posted by Vegas Joe

It is very hot here in the summer and, unlike in Canada, today is a major holiday here and most people will go shopping tomorrow. Oh, and if you move here, you are on your own with health care. We don't do that socialist stuff here.

OK, I have been to Vegas on Thanksgiving, gotten Champagne waiting in line at high end hotels for buffets.

I was in Vegas the Sept long weekend in 108-111 temps. It is a dry heat... easy to take..... I have been to Vegas 30-40 times in my life.


And ALL of us our in our 40's and not moving there or not retiring. We want a place to go visit for holidays only. Health care, I just renewed my travel insurance at it was $77.00 for the year for health care in the USA for trips under 14 days. It covers any extra costs over what the Canadian health care provides.

We pay nothing for health care here, it is amazing. I was recently in NYC and some guy starting asking us questions and said your health care is free.... i said yup. I joked and said you need to go find a woman in Canada and marry her. he said ya, he can't afford it down there.

The humid heat in NYC is harder to deal with then the Vegas heat.


We want to buy a place 4 ways, share the monthly costs and go down each maybe 2-8 times a year, what ever we can.


Brian

[eventusstultorummagister]

Originally Posted by Californiapch

The two places we are watching is Chateau Nouveau and Chateau Versallies. I have seen about 30 condos and watching a few more too.

For the same price you can get a 1930's cottage steps from the beach in Daytona Beach Shores.

[Californiapch]

Originally Posted by eventusstultorummagister

For the same price you can get a 1930's cottage steps from the beach in Daytona Beach Shores.

Two of us buy cars, boats and motorhomes and drive them home from LA and Vegas.

We can enjoy the condo as we are doing things in this area, not interested in Florida.

Brian

[repru]

If you don't rent it a piece of cake. If you rent it you need to be more careful.

Set it up carefully and presume a member goes hostile. How do you deal with it? Put it all in the partnership agreement. Think hard it is tricky and can be a pain.

You need an LLC. Too complicated any other way. I would also suggest you need a property manager. You are almost setting up a hotel room. It needs to be "made up" and cleaned up after each use. You can do it yourself but some of the partners will inevitably end up disappointed.

You also need to decide where. Nice condos at 70 or 80K are doable outside the strip. Inside the strip beware the fees.

What you want would appear quite doable. Just be normally cautious.