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Old Today, 08:19 PM
 
Location: Redwood Shores, CA
62 posts, read 21,101 times
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My friend sent me a few cases where condos in the 100k range are getting 800 current rent. That's like 9% yield. Hoa is 172. I am wondering is this the norm in Las Vegas? Or if true, is this sustainable?
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Old Today, 10:19 PM
 
Location: Raleigh NC
8,451 posts, read 6,641,478 times
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I'd suggest you ask him for the name of his agent in Vegas, and ask that professional.

however, with $0 property taxes, ((800-172) x 12)/100K = 7.5%

property taxes, based on a cursory google, appear to be pretty high at ~$3K/100k. That puts you at a mere 4.5%
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Old Today, 10:33 PM
 
11,711 posts, read 4,302,883 times
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Quote:
Originally Posted by BoBromhal View Post
I'd suggest you ask him for the name of his agent in Vegas, and ask that professional.

however, with $0 property taxes, ((800-172) x 12)/100K = 7.5%

property taxes, based on a cursory google, appear to be pretty high at ~$3K/100k. That puts you at a mere 4.5%
Property tax in NV is max of a little over 1% and drops to less over a few years.

Las Vegas condos are not a rational investment play at this point. Under 5%. You can do better if you are willing to personally manager slum properties. Get up to 6 or 7%. But you have to manage tightly to keep it from spiraling out of control.

The LV play is appreciation. Going up over 10% the last couple of years and still expected to do a good part of 10% this year.

So what would you expect. Come to LV you get to gamble. I think a pretty good bet the next couple of years. Only problem would be a US recession. Make your bet.
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