Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-14-2009, 11:35 AM
 
9 posts, read 33,523 times
Reputation: 13

Advertisements

for investment purposes... 230 East Flamingo, 2 blocks to the strip...

good idea or no? what is the deal with taxes, utilities condo fees, prop management, renting, etc? i have owned investment property in the past but only single family home/row homes...

i live in NJ now, prob be moving to Arizona sometime in the near future if i can sell my house for what i want... but in the meantime i want a base in Vegas and need a write off bad!!!
Reply With Quote Quick reply to this message

 
Old 03-14-2009, 01:14 PM
 
2,502 posts, read 8,888,212 times
Reputation: 905
Honestly, I'd say that if you want an investment property, you'd be better off getting a small house in a residential area.

Condos on the strip are typically bought by frequent vacationers, to the best of my knowledge. Houses are typically bought by families to live in. Once the economy turns around and people finally start to have money again, I'm guessing they're going to be more focused on finding a place to live than getting a part-time party pad on the strip. So with a house, you make more off of your investment faster.

I don't know for sure, though. That's just speculation. Hopefully olecapt or one of the other experts will stop by this thread...they'd probably have a better idea than I would.
Reply With Quote Quick reply to this message
 
Old 03-14-2009, 01:20 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,052,916 times
Reputation: 2661
Quote:
Originally Posted by pattij62 View Post
for investment purposes... 230 East Flamingo, 2 blocks to the strip...

good idea or no? what is the deal with taxes, utilities condo fees, prop management, renting, etc? i have owned investment property in the past but only single family home/row homes...

i live in NJ now, prob be moving to Arizona sometime in the near future if i can sell my house for what i want... but in the meantime i want a base in Vegas and need a write off bad!!!
Snake Pit.

See

ReviewJournal.com - News - LEASE-BACK DEALS: Condominium owners file lawsuit

Actually a reasonably nice complex...but tied up to the gazoo in problems. Underneath it all is a condo conversation of a middle aged apartment complex.

How it will turn out in the end is not knowable. So it could turn out anything from wonderful to a disaster. More complicated than many is there is apparently separate ownership of the common area and such.

I would consider it a speculation...not an investment.

You might well however get positive cash flow on your speculation...a rare occurrence in Las Vegas.
Reply With Quote Quick reply to this message
 
Old 03-14-2009, 01:36 PM
 
844 posts, read 2,092,444 times
Reputation: 488
Sounds vaguely familiar to the Cay Club...
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top