[tahitinfl]

We liked the secluded feel of mission hills. Yet it's not a far drive to the airport or other amenities. I can't seem to find anything in our price range that we like in seven hills or green valley ranch unless it's a short sale or needs a lot of updating.

[BBMW]

Mission Hill is way out in what I call the Henderson Panhandle. That's going to be significantly longer to get to the airport than the areas I mentioned. I'd really look at Seven Hills, or anything along Horizon Ridge (including but not limited to GVR.) All of those are going to be much quicker to the airport.

The panhandle would be cheaper, but it's because it's a worse location. And you should be able to get something close for the money you want to spend.

Edit:

Quick find off of Redfin:
https://www.redfin.com/NV/Henderson/.../home/29686957

There are others similar.

[tahitinfl]

Thanks. I've seen that one during my searches. Hate the high price per square feet and tiny lot. I guess anything nicely priced gets taken pretty quickly everything seems to be pending, a short sale or foreclosure.

[BBMW]

Tiny lots are a fact of life in Vegas, at least for anything relative convenient. And the price per square foot is just it is, especially in the better areas.

[ScoopLV]

Originally Posted by tahitinfl

Thanks. I've seen that one during my searches. Hate the high price per square feet and tiny lot. I guess anything nicely priced gets taken pretty quickly everything seems to be pending, a short sale or foreclosure.

Yup.

When I'm purchasing, I put in multiple offers every day, sight unseen. (I can always get out of a bad deal during the inspection or after reviewing the CCRs.) If I didn't make at least a couple offers, than I didn't really work that day.

Every house that fits my criteria (with geographic location being the number-one item, and $/sqft being number two), gets an offer.

Once I get a few counter offers, then I start really looking at the houses. If someone accepts my offer, I know I'm dealing with a real dog of a property. Because I'm usually $10 off the price per square foot. This is usually when I'll start getting phone calls from the seller's agents, telling me exactly what it's going to take to make the deal close quickly. This is where I learn about the messy divorce, the death in the family, cancer, or what have you. It's always something.

What I'm usually looking for is the long-distance landlord who just got his or her first house wrecked by tenants and wants out, fast. They know how much cash they paid when they bought the place. They know how much the rehab is going to cost. They know how long these things take. So they know how much rent they're going to lose rehabbing the damage.

That's why all the low-priced houses are taken. There are still many, many investors. Each has his or her own set of criteria that constitutes a good investment and acceptable risk. I go for the wrecked houses because I can fix them myself. Someone who doesn't have any calluses on their hands would have other metrics.

[OmegaSupreme]

Originally Posted by BBMW

Tiny lots are a fact of life in Vegas, at least for anything relative convenient. And the price per square foot is just it is, especially in the better areas.

I agree there's an abundance of tiny lots, but that doesn't mean there aren't any "large" lots...

most of them are a little older / in older neighborhoods, but there are plenty that are close enough to the hustle/bustle though not actually in it

[OmegaSupreme]

Originally Posted by ScoopLV

I go for the wrecked houses because I can fix them myself. Someone who doesn't have any calluses on their hands would have other metrics.

Impressive, since most of the investors I know get all their cheap labor done by the lovely chaps waiting in the parking lot at home depot

[tahitinfl]

Like this one https://www.redfin.com/NV/Henderson/.../home/29070814

[ScoopLV]

Yeah, $97 per square foot is roughly the ballfield I play in. As long as nobody was cooking meth recently, I can live with just about anything under $100 these days. These houses still have to bring something to the table besides a low price per square foot -- a view, a nice floor plan, a good neighborhood....

Originally Posted by OmegaSupreme

most of the investors I know get all their cheap labor done by the lovely chaps waiting in the parking lot at home depot

If they pay peanuts they get monkeys. The places I tend to buy need a lot more than the clowns in the parking lot can provide.

[tahitinfl]

So not very easy to do when you are not there yet.