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Old 04-23-2010, 04:06 PM
 
Location: Las Vegas
4 posts, read 6,992 times
Reputation: 15

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I'm thinking of buying an investment property here. Have considered Newport Lofts because it aesthetically appeals to me (as opposed to newer homes in Henderson, for example) and it seems that the Smith Center project could mean an "enlivening" of the downtown area. BUT... I'm open to suggestions. I'll be here a while since I bought my home here in 2006 and the value is... well... you know that story.

Anyway, thoughts?
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Old 04-23-2010, 04:23 PM
 
10,494 posts, read 27,229,958 times
Reputation: 6717
Put $100,000 on banker in Baccarat. If you win, you get a 95% return in minutes.
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Old 04-23-2010, 04:34 PM
 
402 posts, read 1,527,812 times
Reputation: 312
$300 plane ticket
$9700 anywhere else.

Kidding aside, I just don't see these kind of places as good rentals. The vacation crowd is most likely gonna want to stay on the strip, and unless someone really wants to be downtown, they can just as likely rent a house for less than what you could rent a place there. Id buy a single family home to rent out.
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Old 04-23-2010, 04:41 PM
 
Location: Las Vegas
4 posts, read 6,992 times
Reputation: 15
Noted. How about thoughts on the "vintage" type homes in the 89121 area. Sunrise Villas? Or a condo at Laguna Palms on E. Flamingo? I don't have experience as a landlord, but I'd like to learn. It seems like it would be a lot easier as a first time landlord to avoid having to deal with landscape maintenance.
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Old 04-24-2010, 08:46 AM
 
Location: North Las Vegas
1,631 posts, read 3,950,349 times
Reputation: 768
Quote:
Originally Posted by simplefresh View Post
I'm thinking of buying an investment property here. Have considered Newport Lofts because it aesthetically appeals to me (as opposed to newer homes in Henderson, for example) and it seems that the Smith Center project could mean an "enlivening" of the downtown area. BUT... I'm open to suggestions. I'll be here a while since I bought my home here in 2006 and the value is... well... you know that story.

Anyway, thoughts?
One thing when you purchase a property in a highrise like Newporty lofts is that the HOA's are high and the HOA's are usually included in the rent. Rentors don't pay the HOA's. Also in Newport lofts there have been proffessionals that rent in there due to it's location, Young attorney's and some of the employee's will rent in there. Don't expect to get a high rent in there since your HOA will be a good portion of the monthly rent.

Downtown isn't expected to turn around for at least 10 yrs the strip some analysts say 5 yrs or even longer and if that's the case it could take down town even longer than 10 yrs to turn around.
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Old 04-24-2010, 12:19 PM
 
Location: Kingman AZ
15,370 posts, read 39,098,836 times
Reputation: 9215
eight the hard way money Plays.
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Old 04-24-2010, 11:23 PM
 
Location: Nebuchadnezzar
968 posts, read 2,061,721 times
Reputation: 348
Quote:
Originally Posted by 007 license to sell View Post
One thing when you purchase a property in a highrise like Newporty lofts is that the HOA's are high and the HOA's are usually included in the rent. Rentors don't pay the HOA's. Also in Newport lofts there have been proffessionals that rent in there due to it's location, Young attorney's and some of the employee's will rent in there. Don't expect to get a high rent in there since your HOA will be a good portion of the monthly rent.

Downtown isn't expected to turn around for at least 10 yrs the strip some analysts say 5 yrs or even longer and if that's the case it could take down town even longer than 10 yrs to turn around.
Agree with above.
The flip side is that there are a number of owners and renters who are active participants in the Art's District which seems to be having increasing vitality. This adds to the diversity of the complex.
The owner turnover is nearly complete. There a few more foreclosures to go but much less than before and the ownership is stabalizing.
The HOA seems financially sound. HOA fees are somewhat high but about the same or even less than other high rise condo's in town.
Basically, the Newport Lofts is very cool. Finding renters hasnt seemed to be a problem.
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Old 04-25-2010, 01:22 AM
 
6,385 posts, read 11,877,389 times
Reputation: 6864
SF homes are better deals in quality areas in good locations, especially properties south/southeast of the airport. I've seen places close for low $100s which can rent for over $1000/month and don't stay vacant very long.
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Old 04-25-2010, 10:06 PM
 
Location: Bethesda, MD
317 posts, read 1,003,011 times
Reputation: 111
good thread !

And what about a single family home to rent out ?

Last edited by Natali :); 04-25-2010 at 10:18 PM..
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Old 04-25-2010, 10:08 PM
 
Location: SW Missouri
15,852 posts, read 35,120,143 times
Reputation: 22695
Quote:
Originally Posted by simplefresh View Post
I'm thinking of buying an investment property here. Have considered Newport Lofts because it aesthetically appeals to me (as opposed to newer homes in Henderson, for example) and it seems that the Smith Center project could mean an "enlivening" of the downtown area. BUT... I'm open to suggestions. I'll be here a while since I bought my home here in 2006 and the value is... well... you know that story.

Anyway, thoughts?

Screw it. NICKEL SLOTS!!!!!! LOL. You won't win anything, but it will be fun for a couple of years. LOL

20yrsinBranson
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