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Old 04-13-2010, 11:13 AM
 
Location: Los Angeles
2 posts, read 2,086 times
Reputation: 10
Default Moving business & family to Las Vegas

Hi All,

Great forum, thank you all for the knowledge I have already gathers here from reading your posts.


I have decided to move my business (& family) out of California (for all the obvious reasons, taxes, taxes, taxes) and since my business is doing decorative architectural metalwork and lighting (Lost City - Home) for casinos I think the smart move for long term growth of my business is Vegas, currently most of my business is coming from the east coast and south.

From my perspective, housing in Vegas is less that half price to where I live now, no state income taxes (I paid more to the state last year than to the fed!) and a more balances state electorate.

I know Vegas is not the best family orientated town but a place is what you make of it along with making smart decisions which is the reason for my post, I need local input?

I am looking at a great industrial property for my business located in 89115.

Where should I look for a home that affords a decent commute or should I be looking at a different industrial area?

What would be the most suitable location for raising a family, my little girl is 2-1/2 and my boy is 1 so we would like to be in the higher performing schools areas, nice parks, general family environment. Summerlin and the NW look nice?

Should we rent for a while or jump in and buy to take advantage of the current interest rates and prices?

How difficult will it be to get financing?
How much income to we need to show to qualify for a 400k? 0r 500k loan?
My wife and I have perfect credit (900+), and a 25% down payment is no problem, should be able to show 100k to 120k in documented income.

Any thing I'm overlooking?

Thanks you all again for the invaluable posts I have been reading here .

Regards,
Philip
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Old 04-13-2010, 02:43 PM
 
Location: NW Las Vegas - Lone Mountain
15,758 posts, read 19,244,925 times
Reputation: 2661
Quote:
Originally Posted by Irishlord66 View Post
Hi All,

Great forum, thank you all for the knowledge I have already gathers here from reading your posts.


I have decided to move my business (& family) out of California (for all the obvious reasons, taxes, taxes, taxes) and since my business is doing decorative architectural metalwork and lighting (Lost City - Home) for casinos I think the smart move for long term growth of my business is Vegas, currently most of my business is coming from the east coast and south.

From my perspective, housing in Vegas is less that half price to where I live now, no state income taxes (I paid more to the state last year than to the fed!) and a more balances state electorate.

I know Vegas is not the best family orientated town but a place is what you make of it along with making smart decisions which is the reason for my post, I need local input?

I am looking at a great industrial property for my business located in 89115.

Where should I look for a home that affords a decent commute or should I be looking at a different industrial area?

What would be the most suitable location for raising a family, my little girl is 2-1/2 and my boy is 1 so we would like to be in the higher performing schools areas, nice parks, general family environment. Summerlin and the NW look nice?

Should we rent for a while or jump in and buy to take advantage of the current interest rates and prices?

How difficult will it be to get financing?
How much income to we need to show to qualify for a 400k? 0r 500k loan?
My wife and I have perfect credit (900+), and a 25% down payment is no problem, should be able to show 100k to 120k in documented income.

Any thing I'm overlooking?

Thanks you all again for the invaluable posts I have been reading here .

Regards,
Philip
89115 is the Nellis AFB area. I presume the industrial property will be along the 15 corridor.

In general the local area is not suited to a family residence. And the schools are reasonable bad.

The generic rule is head west. You first reach reasonable places in 89084 which is the Aliante area of NLV. Then 89131 and 89149. The commute to Aliante is 15 to 20 minutes and the other two add another 10. I would suggest you stay close to 215 for an easy commute.

For rational interest rates stay below jumbo loans...so under $417K. You should be able to qualify for $400K with 120K of documented income.

The sum will buy a reasonable palace on that side of Las Vegas. 3500SF or more. Likely one of the half acre tracts scattered through that area or in substantial quantity in 89149.

The other option would be one of the other industrial zones. These are located along 15 west of the strip though they are lighter...I would not think you require heavy industrial zoning though you likely know better than I. There are also some pockets along 95 in downtown. And Henderson still has some limited industrial areas. The advantage of these is they are somewhat closer to nicer residental areas. Note though this is an easy commute town so 89115 commute is not terrible.
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Old 04-13-2010, 03:39 PM
 
Location: Los Angeles
2 posts, read 2,086 times
Reputation: 10
Thanks olecapt.
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Old 04-13-2010, 05:14 PM
 
1,365 posts, read 1,318,485 times
Reputation: 891
Do you need to be out in BFE? How much sq footage do you need? You may want to check out 89118. I'm looking out my window at 15,000 sq ft that's available and there's 65,000 a block away. Saying who is probably against the TOS. When I came out here (prior to moving) I got everything done in two trips. If you want to PM me I can give you the name of the guy we used.
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Old 04-13-2010, 05:17 PM
 
Location: Dallas, TX
260 posts, read 467,270 times
Reputation: 155
One thing to mention the local school district at last count is about $120M in the hole.
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Old 04-13-2010, 06:10 PM
 
1,407 posts, read 2,589,556 times
Reputation: 792
Look in 89031 for housing, short drive to 89115.
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Old 04-13-2010, 08:25 PM
 
2,308 posts, read 2,901,344 times
Reputation: 834
Quote:
Originally Posted by Irishlord66 View Post
Hi All,

Any thing I'm overlooking?

Thanks you all again for the invaluable posts I have been reading here .

Regards,
Philip
I don't know that much about the local school districts, but NV is certainly FAR more friendly to capital, business and production that California. I'm glad that California is losing business people like yourself thanks to their miserable tax and regulatory burden. That said, I don't see California improving anytime soon despite the loss of business it has brought upon itself.
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