[ddrhazy]

Do you live in LV OP?

[boleex]

I do not.

[airics]

Originally Posted by boleex

Airics, thanks. Does your property include parking? How many beds and baths?

yes parking 2 car garage, house, 4 bed, 2 1/2 bath


if I would do it again, but we are moving, I would only consider a 3/2. That 4th bedroom tends to bring larger families which could incur more damage to home... im extremely lucky, im going on 6 years with same tenant...prior to that I evicted 2.

[boleex]

Thanks to all those who responded. Your posts and info were very helpful. The property I was considering just went under contract, so I am hunting again.

[ddrhazy]

My next question for you OP is what is your ultimate goal purchasing here? Do you intend to retire in the very house you buy? Do you want to sell it in 5 or 10 years? Your ROI is only going to be 5%, wouldn't you rather invest your 250k in an index fund and get a hassle free appreciation of around ~8% instead? Maybe another housing market would be optimal for you, one that is not "over valued" by forbes and bloomberg.

[JohnG72]

Originally Posted by ddrhazy

My next question for you OP is what is your ultimate goal purchasing here? Do you intend to retire in the very house you buy? Do you want to sell it in 5 or 10 years? Your ROI is only going to be 5%, wouldn't you rather invest your 250k in an index fund and get a hassle free appreciation of around ~8% instead? Maybe another housing market would be optimal for you, one that is not "over valued" by forbes and bloomberg.

This prompts a question. At what point does the value of properties go high enough that builders start to make more housing? There's still ample available land in LV, I think the water will be done no matter what(correct me if I'm wrong).

So this begs the question....how much farther up can prices go before builders add sufficient inventory to place a ceiling on pricing?

[08grad]

Originally Posted by JohnG72

This prompts a question. At what point does the value of properties go high enough that builders start to make more housing? There's still ample available land in LV, I think the water will be done no matter what(correct me if I'm wrong).

So this begs the question....how much farther up can prices go before builders add sufficient inventory to place a ceiling on pricing?

They're building right now. Most of the new construction is apartments, but there's still single family homes going up. West Henderson (St. Rose Pkwy) has had a ton of new apartment construction in the past year.

In terms of what price is profitable for builders, virtually all new construction is 300,000 and up for a good area. I'm amazed at how much new construction is over half a million.

There's a ton of people still renting that are hoping for a crash so they can get in the market.

[airics]

Originally Posted by boleex

I do not.

in that case.... heck no! you need to be a local landlord, after the first few homes are trashed, you will realize this...

why invest 250k for such a small return...

there are a lot better investments out there...

[airics]

Originally Posted by 08grad

They're building right now. Most of the new construction is apartments, but there's still single family homes going up. West Henderson (St. Rose Pkwy) has had a ton of new apartment construction in the past year.

In terms of what price is profitable for builders, virtually all new construction is 300,000 and up for a good area. I'm amazed at how much new construction is over half a million.

There's a ton of people still renting that are hoping for a crash so they can get in the market.

out here in the nw, the signs are now 350 and up for new.. not including the addons...

renting is skyrocketing too.... I don't foresee a crash like before, I do see it calming down in the next few years....

in terms of house resale ideas..

we decided to move last December and we started looking in Florida... realtor here estimated our house at 300-325

February, we bought house in Florida, needed fixing up so not ready for the move just yet... realtor here said 340-350

Current, house is ready in Florida, signed realtor papers today.... realtor estimating 375-390... we are listing at 384k and including a convertible.... I always had to be different... lol....

POS house just sold this week in our development, easy 30-40k needed for fixing.. it sold for 355k and had a GREEN pool...

For us, its the WOW factor that I am counting on....

[boleex]

Originally Posted by ddrhazy

My next question for you OP is what is your ultimate goal purchasing here? Do you intend to retire in the very house you buy? Do you want to sell it in 5 or 10 years? Your ROI is only going to be 5%, wouldn't you rather invest your 250k in an index fund and get a hassle free appreciation of around ~8% instead? Maybe another housing market would be optimal for you, one that is not "over valued" by forbes and bloomberg.

Originally Posted by airics

in that case.... heck no! you need to be a local landlord, after the first few homes are trashed, you will realize this...

why invest 250k for such a small return...

there are a lot better investments out there...

I have a significant stock market portfolio already. I am also already a local landlord for a bunch of properties in my area (NJ and NY). These markets are difficult (high tax, high insurance, pro-tenant environment) and so I am looking to diversify and get into a non-local property. Of course the question is, what is the best market for that, with a reliable property manager?

Back to the property at hand (which is already under contract, but we can chat about it for our purposes here). Lowest rent guess from posters here was 1200, agent/PM says 1650. At the low, return is 3.97, at the high is 5.97. Not great. What do you guys think about LV appreciation? I thought that the market overall had not passed its 2006 peak, but I think someone here noted that they thought this was only true for 2000 square foot plus properties. Also, are you able to raise your rents each year?