Las Vegas Homes, Condos, Land and Commercial Real Estate Blog

Regardless of how the investor is planning to buy his home or condo, which is buying from a Las Vegas real estate auction such as REDC auction, buying from the trustee sale or foreclosures or short sales, all have to start at researching homes and condos that are listed in the Las Vegas MLS.

Why? Because many of the homes and condos that are auctioned at the next REDC real estate auction are those that are listed or have failed to sell through the Las Vegas MLS. And as for Trustee sales, many of these have failed to sell through the Las Vegas MLS also and ended up getting foreclosed.

Robert, like other real estate investors asked me to e-mail him Las Vegas homes and condos for sale listings that are suitable for investment.

 I did e-mail him some condominium listings on South Las Vegas Boulevard (Strip) that I personally think are good investment opportunities. I believe that condominiums in Manhattan and Park Avenue that are priced in the low $100 range per square foot are excellent investment opportunities; partly due to the fact that they couldn’t build them again for more than $150 per square foot. Park Avenue has some buildings that are under construction defect litigation so care should be exercised when making an offer on these condominiums.

Robert, who is an experienced real estate investor from the Washington DC area, didn’t like the cash flow that is generated through buying and leasing these semi luxury, South Strip mid rise condominiums and asked me to e-mail him

Las Vegas homes or condos listings for sale that can maximize his cash flow as well as have a chance of future appreciation.

Truthfully, I did not have a good answer for Robert, as I have not analyzed the difference between property types, such as a single family homes, condominiums, high rise condos and townhomes in different parts of Las Vegas for generating cash flow.

The deal is that property taxes along with Home Owner Association (HOA) fees for condominiums in Las Vegas can take a big chunk out of the rental income for the investors as the nicer the condo community and more amenities, the higher the HOA fees. For example; the HOA fees for a 2 bedroom, 2 bath condo for sale for $149,000 in Red Hills in Pueblo which is an upscale condominium subdivision in Summerlin, Las Vegas is $290 per month while the tax is $121/month. Units like this rent for $1050 per month with the days on the market of less than 20 days. However, a 2 bedroom and 2 bath condominium for sale for $94,000 in the Brava condo community has HOA fees of $170 and the tax is $142 per month. Units like this rent for $1000 per month with the days on the market of less than 30 days.

As you can see the net return on the investment minus tax and HOA fees for the condo at Red Hills can be about $640 for an investment of $149,000 while the unit at Brava Condos will return $690 after one deducts the HOA fees and taxes for an investment of $94,000. So in this example Brava will provide the investor with a much better cash flow.

So I have started a progressive analysis of these condominiums and townhomes and single family homes in different parts of Las Vegas, North Las Vegas and Henderson so I could provide investors like Robert with an educated answer.

Needless to say this is a tedious and time consuming process and may take a couple of months, and that is contingent on my worthless back improving a little. But when I am done, I will make my clients money.

While the HOA fees for most condominium communities in Las Vegas are usually higher than $100, many single family homes for sale in Las Vegas don’t have such a high HOA fee, but in the case of absentee owners a property manager is a must and property management companies charge 6%-10% of the rental income, so that makes up for the HOA fees that condo communities HOA charge.

I will peruse investing in Las Vegas homes and condos in future blog posts; however I will only discuss in general terms as the real data is for my clients only.

Related web-site links: buying Las Vegas condos for sale, Buying Las Vegas new homes for sale, Las Vegas, Nevada Homes for Sale, Short Sales, Foreclosures, HUD Homes and Fixer Uppers