[stuckinGFK]

A friend and I are both planning on investing in a Las Vegas area home for potential long term gains (5-10 years).

Both of us have lived in the area and know it somewhat. I live in Chicago and she currently resides out of state, so I'm asking the members of this forum where *they think* the best long term potential in the area is.

Some info:

- We'll for sure have one renter and the other investor living in the property. I work in Chicago but will be there several times a year.

- Semi partial to the NW, but open to anything once we see it.

- $300,000 cap

- Schools don't really matter to us, but realize that it will in 5-10 (or however long) years for resale.


Any help would be appreciated.

Thanks

[MomMom]

Originally Posted by stuckinGFK

A friend and I are both planning on investing in a Las Vegas area home for potential long term gains (5-10 years).

Both of us have lived in the area and know it somewhat. I live in Chicago and she currently resides out of state, so I'm asking the members of this forum where *they think* the best long term potential in the area is.

Some info:

- We'll for sure have one renter and the other investor living in the property. I work in Chicago but will be there several times a year.

- Semi partial to the NW, but open to anything once we see it.

- $300,000 cap

- Schools don't really matter to us, but realize that it will in 5-10 (or however long) years for resale.


Any help would be appreciated.

Thanks

It's going to take a really long time for Las Vegas homes to regain substantial value. We'll NEVER see the population/growth boom as in years past. At least I hope we don't ever go through that again.

If I were you, I'd look at Texas to buy an investment home. Lately, all media stories coming out are about how the economic slide has not affected cities like Austin, Dallas and Houston, and in fact, people are migrating to those cities where there are jobs.

Where jobs are: The U-haul Indicator - MSN Money

I wouldn't invest in Las Vegas real estate, even for the long haul.

[MediocreButArrogant]

Vegas investment strategy? I suggest half on black, the rest evenly divided on the digits in your birthday.

[Fastrudy]

Best investment Long Term?

Hmmmmmmmmmmmmm, education.

[007 license to sell]

Originally Posted by stuckinGFK

A friend and I are both planning on investing in a Las Vegas area home for potential long term gains (5-10 years).

Both of us have lived in the area and know it somewhat. I live in Chicago and she currently resides out of state, so I'm asking the members of this forum where *they think* the best long term potential in the area is.

Some info:

- We'll for sure have one renter and the other investor living in the property. I work in Chicago but will be there several times a year.

- Semi partial to the NW, but open to anything once we see it.

- $300,000 cap

- Schools don't really matter to us, but realize that it will in 5-10 (or however long) years for resale.


Any help would be appreciated.

Thanks

There are some area's that will rebound sooner, like the Summerlin and Henderson area, the nw is a nice area, they could take longer. It's good your in for the long term, if you purchase anything right now thinking your going to flip in 5 to 10 years you should be okay depending on the home and location. That goes without saying, the problem is the unemployment. Right now it's 13% the experts are saying we could go as high as 14 or 15%.

Bigger homes are the thing of the past most buyers now want smaller homes, the age of the baby boomers wanting the bigger the better has run it's course.

The new generation is much more conservative, also maintenance on a smaller home is much less as well as the utilities. Also HOA fees some neighborhoods you could end up with more than one on a home, such as in the Master planned community of Summerlin there is a summerlin fee and then the community with in Summerlin will have a HOA fee.

Also there could be an additional sid/lid fee( special improvement fee) this is a fee for infrastructure that was put in at the time the homes were built these additional fees can find in some parts of the city of Henderson there is a separate Henderson fee along with the community fee you purchase in.
Vegas will rebound, no one really knows when non of the experts can seem to agree.
Best of luck in your search.

[MediocreButArrogant]

Originally Posted by lvlenny31

I have lived in Las Vegas for 12 years and own 2 investment properties. I am looking to form partnerships to buy/renovate/and rent distressed properties. I can demonstrate how anyone who invests can safely earn 9-10% on their investment. If anyone would like more info please just give me a call @ 702-215-9508, my name is Lenny.

Thank goodness you posted. I have $500,000 to invest and I've been looking for a complete stranger on Internet forums with whom I could entrust the money. So far no luck until now. If you hadn't posted the money would be going to help an exiled Nigerian prince recover his family's fortune.