Invest in Las Vegas Real Estate - Las Vegas Investment Properties
Why investing in Las Vegas real estate is a good idea? Because of historic low prices and and according to Case-Shiller® Housing Price Index Las Vegas real estate is 17%-18% under-valued. This why Las Vegas is a good real estate investment opportunity and this is for median priced property. A good real estate agent can get you an additional 15%-20% of retail prices through buying in foreclosure real estate auctions in Las Vegas.
Investing in Las Vegas real estate can be done in two ways, Investing in Las Vegas residential investment properties such as Las Vegas, Henderson or North Las Vegas homes, condos and high rise condominiums. Or investing in Las Vegas commercial investment properties, such as investing in Las Vegas vacant land, industrial properties, retail space or business parks.
In order to help Las Vegas real estate investors we have done several blog posts including, Issues to consider when Las Vegas real estate investors contact us to buy Las Vegas homes and condos or Buying a Las Vegas home or condo as investment property? Try answering these questions. We discussed generating double digit cash flow through buying a owner occupied four-plex in Generating cash flow from owner occupied Las Vegas condos or homes.
Investing in Las Vegas homes in Las Vegas is different from California as there are no bulk sales of homes from banks, this id due to a low number of foreclosed (bank owned) homes which are marketed through the Las Vegas MLS which has been less than 2000 since mid 2009. 80% of bank Repo homes that are listed in the Las Vegas MLS and priced below $250,000, sell (record) within 60 days at 102% of the asking price. The majority of buyers are cash investors. Banks are not crazy enough to sell these at wholesale prices and in bulk.
Getting a discount on Las Vegas homes is done through buying them one at the time at the Trustee Sale Auction, which is the auction where the act of foreclosure takes place. It is possible for the investor to end up with 8%-10% profit per deal when flipping a home (buying and selling a home quickly) and doing 3-4 deals per year can make for 30%-40% profit on investment per year.
Buying Las Vegas condominiums in bulk: Las Vegas condos can be purchased in bulk through buying a condo project. However, these projects run at the Trustee Sale Auction too and the bank can save a lot of money by selling them to the third party in the Trustee Sale.
A few Las Vegas high rise builders are open to selling a few luxury condominiums at a discount. This is done on individual cases. Call us if you want to buy a few high rise condos and we will discuss it further.
We have compiled the list of Greater Las Vegas apartment buildings which owe more than $2,000,000 on their condo project and will contact them with a viable buyer.
Unless the buyer of a Las Vegas commercial property is an owner user, then the buyer is an investor. Las Vegas commercial real estate has been badly hurt by the current economic troubles and I wrote in a blog post in August 13th, 2008 that Forbes.com doesn't know what they are talking about when they declared; Las Vegas is among the 10 best cities in the United States for commercial real estate and investment properties, says Forbes.com. I was right and whoever listened to Forbes.com and invested in Las Vegas commercial properties at that time lost money. Actually Dubai World lost billions.
This is NOT 2008 and Las Vegas commercial property values have gone to hell in a hand basket, bargains can be found, but if you want to invest in Las Vegas commercial real estate, call us.
As far as Las Vegas vacant land, I don't see a turnaround until the oversupply of homes, condominiums and commercial buildings are depleted. However long term speculators can't find a better investment opportunity.
As for retail properties and office space; again credit troubles have forced many small and large businesses to shut down their doors and high vacancy rates have affected the rental rates which keep going down. This along with the credit crunch have made selling commercial properties of all kinds very difficult in the current climate. Very good deals, including my own office building can be found now. However caution is the word of the day.