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Old 11-21-2018, 09:48 AM
 
1 posts, read 410 times
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Hello everyone I’m a long time lurker. I live in Shreveport, Louisiana. I recently got married and my wife has decided that we will be moving to Las Vegas when her contract is up at her current hospital in 10 months. She is a Nurse Practitioner and I’m a Registered Nurse that is in NP school with a little over 1 year left before I graduate. We are definitely making the move after her contract is up and we sell our house. So I have a few questions that have been answered previously, but it’s been a while.

1.How is the job market for Nurse Practitioners and Registered Nurses? Hopefully it will not be a struggle to find a job.

2. Buying a home and long term plans. We honestly don’t know where we want to live. Her parents live in the Silverado Ranch area and it seems fine. We should have enough equity in our current home to put a substantial down payment down. Our plan is to buy a home that we can live in for about 3/5 years and then use it as a rental property after we get established at our places of employment and find the area that we truly want to buy our forever home in. Does this seem like a plausible plan or am I overlooking something?

3. Which areas would make good rental property areas, but also are nice enough that you wouldn’t mind living there yourself for a few years? I’m looking at Silverado Ranch, Centennial Hills, Green Valley, Mountains Edge. Any other recommendations? Leaning towards Silverado Ranch because if close proximity to her parents. She likes Summerline and Red Rock casino, but we will probably strive to buy in that area after we get more established.

4. I see lots of 2 bedroom single family homes in Las Vegas. Do these sell and rent well? In my area it’s almost impossible to sell a 2 bedroom house. They are few and far between.

Thanks and hopefully this isn’t too many questions. Can’t wait to move. We come to Vegas 3 to 4 times a year anyway and love the lack of humidity. Might as well make the move a permanent one.
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Old 11-21-2018, 10:10 AM
 
Location: Las Vegas
1,876 posts, read 1,304,785 times
Reputation: 1454
Quote:
Originally Posted by SouthernNP View Post
Hello everyone Iím a long time lurker. I live in Shreveport, Louisiana. I recently got married and my wife has decided that we will be moving to Las Vegas when her contract is up at her current hospital in 10 months. She is a Nurse Practitioner and Iím a Registered Nurse that is in NP school with a little over 1 year left before I graduate. We are definitely making the move after her contract is up and we sell our house. So I have a few questions that have been answered previously, but itís been a while.

1.How is the job market for Nurse Practitioners and Registered Nurses? Hopefully it will not be a struggle to find a job.

2. Buying a home and long term plans. We honestly donít know where we want to live. Her parents live in the Silverado Ranch area and it seems fine. We should have enough equity in our current home to put a substantial down payment down. Our plan is to buy a home that we can live in for about 3/5 years and then use it as a rental property after we get established at our places of employment and find the area that we truly want to buy our forever home in. Does this seem like a plausible plan or am I overlooking something?

3. Which areas would make good rental property areas, but also are nice enough that you wouldnít mind living there yourself for a few years? Iím looking at Silverado Ranch, Centennial Hills, Green Valley, Mountains Edge. Any other recommendations? Leaning towards Silverado Ranch because if close proximity to her parents. She likes Summerline and Red Rock casino, but we will probably strive to buy in that area after we get more established.

4. I see lots of 2 bedroom single family homes in Las Vegas. Do these sell and rent well? In my area itís almost impossible to sell a 2 bedroom house. They are few and far between.

Thanks and hopefully this isnít too many questions. Canít wait to move. We come to Vegas 3 to 4 times a year anyway and love the lack of humidity. Might as well make the move a permanent one.
1. Lots of healthcare jobs
2. Silverado Ranch has nice pockets of houses, depending on your budget. I would try to avoid the cookie cutter type houses though (you can spot these because there are maybe 3 different models in the entire street)
3. Doesn't really matter if the market is priced right, you really should be trying to separate the notion "would I live there?", all smart investors don't care about that, it's about bottom line. If you are going to live there then sure, Silverado Ranch is a good starting point.
4. That doesn't make sense, if something is in short supply then it will usually sell well *IF* there is a demand for it. There is certainly much higher demand for lower priced properties, and a 2bd would fit into that category.
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Old 11-21-2018, 10:41 AM
 
Location: Las Vegas
685 posts, read 474,047 times
Reputation: 626
Hi there,
I work as an acute care RN here in Vegas so I can answer your first question.

There are plenty of nursing jobs here. Are you hospital based, LTC, outpatient? Let me know what type of setting you desire to work in and I can give you some expectations on hourly pay, and which facilities have the best reputation. Do you plan to work as an RN in Vegas, since you will be so close to graduating as a NP?

Nurse practitioners here do have good opportunities. Pay is good, and lots of options to choose from. Nevada is a "Full Practice" state for NP's. What specialty is she in? FNP? Let me know any other questions you have.
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Old 11-21-2018, 10:45 AM
 
Location: Southern Nevada
2,561 posts, read 1,024,922 times
Reputation: 2714
My wife is an RN Care Coordinator and had several offers within 2 weeks of moving here. She ended up at Dignity St. Rose. No shortage of jobs here and the pay is good.

Silverado Ranch is in a nice location. Good proximity to the Strip and airport, and close to the District in Henderson. We looked at houses there and one drawback was that the ones we looked at were very close together. That's kind of the way it is out here but the house we eventually bought in Palm Canyon in SE Henderson has a bigger lot and some space between the houses. We got lucky and also have no neighbors behind us.

We saw a lot of 2 bedroom homes and for us that was a no-go. There are a lot of retirees here and many of them don't mind only having 2 bedrooms, especially if the house is in a master planned community like McDonald Ranch or something similar.
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Old 11-21-2018, 11:38 AM
 
762 posts, read 1,050,350 times
Reputation: 690
If you plan to rent the home later consider a 4 bedroom home. Three bedrooms are a dime a dozen lots of competition. Four bedrooms gives you a lot more flexibility as far as renter desirability and there are fewer of them for rent. Four bedrooms leaves one bedroom for office. Also look at realtor.com and the like and see what the going rent is for the home/area you are looking at. That way you can get a realistic view of what you can expect.

Being a landlord though has it's own set of problems. A property manager doesn't automatically cure those problems.
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Old 11-21-2018, 07:57 PM
 
1,694 posts, read 3,067,540 times
Reputation: 1796
The ROI on rental properties is terrible right now (guessing 5% on average). My recommendation would be to simply rent for a year before buying your forever home instead of locking yourself into a future poor return rental/landlord situation.
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Old 11-21-2018, 08:21 PM
 
11,184 posts, read 3,917,856 times
Reputation: 4813
Quote:
Originally Posted by WestieJeff View Post
The ROI on rental properties is terrible right now (guessing 5% on average). My recommendation would be to simply rent for a year before buying your forever home instead of locking yourself into a future poor return rental/landlord situation.
Ahh but to have that opinion you need to know what the appreciation looks like.

And I would differ with you in that I think another year with 10% appreciation is possible and more than 5% is almost assured. Then again it could all go to hell and it is cheaper next year.

What would you bet on?
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Old 11-21-2018, 11:08 PM
 
5,562 posts, read 5,756,440 times
Reputation: 2487
Is Silverado Ranch the area where Silverton Casino and Resort is?
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Old 11-21-2018, 11:13 PM
 
Location: Southern Nevada
2,561 posts, read 1,024,922 times
Reputation: 2714
No, Silverado Ranch is on the east side of the 15 and the Silverton is on the west side. They're about 10 or 15 minutes apart.
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Old 11-22-2018, 08:46 AM
 
Location: Henderson, NV
827 posts, read 497,256 times
Reputation: 2234
Rent. What do you want with owning a rental property? Two healthcare professionals fooling with tenants, evictions, repairs--put your money into something else. Seriously, the potential return on a rental comes with headaches--unless you are committed to managing the property yourself, be prepared for a long list of possibilities:

-really great tenants (pay on time, clean)
-really bad tenants: miss rent, destroy your property, disappear with rent due, refuse to leave
-maintenance: paint, flooring, landscape, block walls, irrigation system
-repairs: HVAC, plumbing, roof, garbage disposal, garage door
-HOA: see bad tenants
-Weak and shady property management
-property tax assessments, preparing income taxes, insurance (more hassles and stressors)

Sure, you can do it. My best tenants (not in LV) in one of my properties have lived there for over 4 years, and have yet to cause an issue I would consider as bad tenant behavior. But the house breaks and needs fixes as it ages, even under normal use. I have those expenses budgeted, but the return is not worth the hassle. I have to scrutinize every action of my PM--like billing me $250 for plumbing repairs and not being able to explain where they got that number--"oh, it looks like we overcharged you"--they still try to pretend their mistakes are honest ones--and not intentional overbilling.

I see it as a stressor and waste of time that the money doesn't offset. Plenty of people enjoy the income and don't let the issues bother them--that's cool. My father had apartments. I was probably scarred emotionally by the way some tenants screwed him over, and I was usually the teenager sent in to clean up after a tenant ditched.
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