LAS VEGAS?

[2003altima]

Investors in Vegas,

Do you think it's a smart move buying out there? I own one condo...  and thinking about buying another. I'm hoping to see in double in value in 5-8 yrs. What do you guys think?

Factors:

-5,000-6,000 moving to vegas a month
-All land has been sold to Developers
-5-7 yrs all will be all built and no more land to build on.
-anymore factors?

[californiajeff]

Since I am on the scene here in Vegas, I believe the market will increase in value 50% - 100% in 5 years. Everyone talks about a housing bubble, but California is our biggest insurance here. Unless, California values get cut in half, our values aren't going anywhere but up.

I am personally in a conundrum though. I want to invest in local rental properties here in Vegas but I am having a difficult time. It would be very hard to find a profitable rental here at current market prices.

[smaxor]

I invest in both and feel that the Vegas market is going to languish a while as a subsidiery of the CA mrket. I believe it's going to drop more and then get back to the heights we saw 1 year ago in a 5-7 year time frame. I'm buying at about 65% of market there now and there's a lot of people that are starting to get upside down.

[reoconsultants]

I agree smaxor I bought there before the boom and hold only 3 as of today in Vegas I would love to see them boom on the other hand I think it will fall a little before the rise I also do not see another boom in Vegas for sometime!

[californiajeff]

I invest in both and feel that the Vegas market is going to languish a while as a subsidiery of the CA mrket. I believe it's going to drop more and then get back to the heights we saw 1 year ago in a 5-7 year time frame. I'm buying at about 65% of market there now and there's a lot of people that are starting to get upside down.

Smaxor, have you been having success buying homes at 65% of market in Vegas?

[smaxor]

Yes!

[ryanpal]

I believe he left out the word "how" smaxor

[smaxor]

You didn't ask "how". But now that have my secrect isn't that great. I just advertise and send postcards. Then when people call I know how to negotiate with them to get them down. Nothing special!

[niravmd]

if u cannot make your homes in LV cashflow you're taking a big risk by betting on further appreciation. the market has already jumped 100%+. most people are thinking of getting out.
why are you thinking of getting in?

you want to find the next vegas and invest BEFORE everyone gets there. don't be one of the last people to the party and be left holding the bag.