[rgerlitz]

I’m looking at buying a property in Vegas around $300-$400K. Initially I would like to have it as a long-term rental and in 5-10 years use it as a vacation home for my family. Would like some decent amities in the area.

What communities/areas should I be focusing on?

Thank s in advance.

[airics]

aliante.....summerlin

[cjski21]

Anthem....Green Valley

[PinkString]

Aliante, Summerlin, Green Valley, Rhodes Ranch, Mountains Edge, Centennial Hills, The Lakes, Peccole Ranch, etc.
Too many good choices. Best bet overall, come out and see the places for yourself, then you decide.

[rgerlitz]

I've heard a bit about Rhodes Ranch which seems to have lots of ammenities but there are a few comments on thsi forum that are less than positive. Would it be a bad choice?

[PinkString]

People come on here and complain about everything, because some just like to complain every day. Some are just unhappy sorts.

I think Rhodes Ranch is a nice area. Close to everything yet far enough away so you aren't in the thick of it all. Traffic could be improved, and maybe in another 5-10 years it will be.

[daveyjones978]

I happen to live just outside of Rhodes Ranch, so perhaps I can offer some advice on this area.

Depending on what you intend on purchasing (house, condo, etc.) would make a big difference in where you end up. The actual Rhodes Ranch (inside the Golf Club) are (to my knowledge) all single family homes. Most are priced from 300K and up.

Keep in mind that a lot of communities in the neighborhood have names "... at Rhodes Ranch" (i.e. Sierra Madre @ Rhodes Ranch; The Falls @ Rhodes Ranch; Canyon Trails @ Rhodes Ranch), however they are not part of the Rhodes Ranch Golf Club (Some do allow residents to use the golf course, etc.) From what I understand, the actual golf club has a pretty impressive clubhouse, with several ammenitites, although IMO, most of the gated communities have something on par.

As for the neighborhood, if you enjoy occasional drives to the Strip/downtown and intend on travelling in and out of Las Vegas, you really can't beat the area. This part of town has had tremendous growth over the past 5 years. I can usually make it to the strip within 15-20 minutes; McCarren Aiport has never taken me longer than 30. The intersection of Durango Drive and Warm Springs Road has several strip malls, with your typical supermarkets, take-out food, gas stations, etc. One block east is a hospital (San Martin, affiliated with St. Rose medical center). One exit east on the beltway (at Rainbow Blvd.) is a new center called The Arroyo. This center is about 75% complete, and has all your big-box stores (Walmart, Sams Club, Home Depot), as well as some smaller stores and restaurants. Anything not in the general area is no more than 20 minutes away (usually up near the intersection of Tropicana and Fort Apache, a quick drive north on the Beltway).

Traffic can be a little....strange, to say the least. Basically the problem is that there has been a lot of growth in the area, and many intersections that once were dirt roads have now become major thoroughfares. I'm sure over time (next few years) this will all be worked out, and things will run smoother.

There are many areas of the Valley that are just as nice, if not nicer. Again, it's a matter of preference, and what you intend on wanting to do once you start vacationing more frequently out there. My last trip out I got a chance to see a lot of different areas of town; while all very nice, I have to say I'm pretty happy in the SW area. I don't really need to leave the general area, unless I want to, and even then, most places I would go to are withing 20-30 minutes.

Best of luck, with wherever you decide. As general consensus on this board, definitely take a few trips out and get a feel for all the different areas. What's best for one, might not be best for someone else.

Hope this helps..

[Kabrasco LaFonz]

If you buy and rent a large house from a distance you are going to be losing money every month, unless you stumble upon a theoretical person who wants to pay you $2800/mo rent, yet isn't looking to buy himself. I think you would be better off buying when you really want to move out here.. for ex: why buy a 5 year old house, let it get 10 years older, depreciate, start to develop upkeep problems, and then move in. As much as it is a buyer's market right now, I think in your situation you would be best off seeing what is new/available when you want to move. If you would have said 2-3 years that would be different. From a pure invest + rent it point of view, going with a starter sized home or condo is a better proposition than a bigger unit.

And as other people have said you have to see different places for yourself to know what you will like. Many will spit out names of random Master Plan communities simply because it's easier to say than "I toured a house in a community by Peace Way/Grand Canyon yesterday that was nice." Master plan communities with HOAs over $100 are actually bad investments if you intend to rent it for a long time, the additional monthly $ won't fetch you higher rent from what I have seen. Almost every time I run the numbers for units with high HOAs they tend to rent cash flow negative even before I factor in unforseen costs and an 11 month rent year. Whereas many small units are cash flow positive with these prudent "cost of doing business" measures priced in.