Hello from a newbie , and first post with questions. (Las Vegas: real estate, rent)

Onlyliveonce · 07-31-2010, 09:47 PM

Hello all, I have been lurking for YEARS and decided to jump in now. Let me introduce myself I am a NY resident and I am 40 yrs old. I have been dreaming of moving to LV for almost 20 yrs and been following the RE market in LV for a while. I am planning a move to either Summerlin 89138, 89144, Henderson 89012, 89052 and lastly Southern Highlands 89141. I am open to other Zip codes that others might recommend. I am married with 2 small children not in school yet. I am getting ready to retire next summer at the age of 41( I have the option of half pay NOW or keep working as long as I want up until 63 . I work for a Police Department in a Supervisory position here in NY and my wife is a real estate attorney and together we are comfortable financialy. How much of a risk am a taking by retireing on a pension and moving to LV. I plan to work again and hope to find a decent job in the security field with the resume I have devloped over the last 19 years in a wide variety of assignments, investigative, street patrol, training and managerial up the supv ranks. My wife would have to take the Nevada Bar and find employment in the real estate law field (10 yrs experience). We both love the weather and we spent a couple of weeks in August 105 degree plus and were not bothered by it, we also spent some time at a family members house in Southern Highlands and Green Valley. I get a lot of negative energy from co-workers and friends all the time about LV and what I am giving up here in NY. I am tired of the rainy, snowy cold weather and the awefull high taxes, income, property ect... I know this move is comming at the right time for myself and my family(low housing prices in LV and moving before my children become attached to NY) . What I am concerned about is finding work as I am only 40 yrs old now(I know I have a pension, but I still need to work) and how long it will take my wife to land a job with a law firm. Other than the employment issues I feel great about the move, as I have heard horror stories for those out of work or looking for work. Would it be the same issue for an attorney looking for work ? Have doctors and lawyers from professional fields been hit hard out there too ? I plan on putting my house on the market February 2011 and as soon as I have a binder I will aggressively shop for a home, but until I have a binder I will come out a few times to look. Any advice is welcomed and I come into this experince with an open mind. Thank you for reading and any imput.

las vegas drunk · 07-31-2010, 09:53 PM

You are taking too much of a risk. You both have good jobs so I think you should stay in New York.

von949 · 08-01-2010, 12:39 AM

Quote:

Originally Posted by Onlyliveonce

Hello all, I have been lurking for YEARS and decided to jump in now. Let me introduce myself I am a NY resident and I am 40 yrs old. I have been dreaming of moving to LV for almost 20 yrs and been following the RE market in LV for a while. I am planning a move to either Summerlin 89138, 89144, Henderson 89012, 89052 and lastly Southern Highlands 89141. I am open to other Zip codes that others might recommend. I am married with 2 small children not in school yet. I am getting ready to retire next summer at the age of 41( I have the option of half pay NOW or keep working as long as I want up until 63 . I work for a Police Department in a Supervisory position here in NY and my wife is a real estate attorney and together we are comfortable financialy. How much of a risk am a taking by retireing on a pension and moving to LV. I plan to work again and hope to find a decent job in the security field with the resume I have devloped over the last 19 years in a wide variety of assignments, investigative, street patrol, training and managerial up the supv ranks. My wife would have to take the Nevada Bar and find employment in the real estate law field (10 yrs experience). We both love the weather and we spent a couple of weeks in August 105 degree plus and were not bothered by it, we also spent some time at a family members house in Southern Highlands and Green Valley. I get a lot of negative energy from co-workers and friends all the time about LV and what I am giving up here in NY. I am tired of the rainy, snowy cold weather and the awefull high taxes, income, property ect... I know this move is comming at the right time for myself and my family(low housing prices in LV and moving before my children become attached to NY) . What I am concerned about is finding work as I am only 40 yrs old now(I know I have a pension, but I still need to work) and how long it will take my wife to land a job with a law firm. Other than the employment issues I feel great about the move, as I have heard horror stories for those out of work or looking for work. Would it be the same issue for an attorney looking for work ? Have doctors and lawyers from professional fields been hit hard out there too ? I plan on putting my house on the market February 2011 and as soon as I have a binder I will aggressively shop for a home, but until I have a binder I will come out a few times to look. Any advice is welcomed and I come into this experince with an open mind. Thank you for reading and any imput.

I doctor and lawyer thats affected by a declining economy wont be the same as blue colar workers that are affected. Even if a good doctor lost nearly half of his pay he would got from $150-200K to $100-150K. No where near starving levels. Plus he/she can easily pick up and leave to a better economy. Never heard of a good doctor not finding a job.

The Air Force base alone out this way has several open positions for nurses and physicians always.(experienced)

The same can pretty much go for a good lawyer also.

Now that I think about it, Hardly any "professional" fields of work are ever affected by negative economy. Some fields may even need to increase their employees(law enforcement). I can think of a couple fields right off hand... Law, medical, government(federal), military...cant think of any others.

I personally am not affected(military) In fact Im almost shamed to say that I got a nice raise last month.

photobuff42 · 08-01-2010, 07:36 AM

One of my friends is a tax attorney. His law firm "imploded" (his word) last year and many of the attorneys left Nevada.

Daddys///M3 · 08-01-2010, 08:25 AM

I can't speak on the job market for attorneys, but law enforcement is feeling the pinch as well. The hiring list for LVMPD is stacked pretty fat right now and the next academy is not until 2011. The same goes for Henderson and N Las Vegas departments. The exception to that is the state. Corrections and DPS (Highway Patrol and Capitol Police) I believe are currently hiring.

Bear in mind that I realize that as a lateral you would not need to go through an academy. Just trying to paint the picture.

Your other option would be security. I'm sure that since you have been working in a supervisory position you are well qualified for more than a patrol officer position, so that may be an option.

Depending on what your pension is you might not "need" employment as well. Las Vegas cost of living is quite affordable. A pension of $4000 a month would be adequate to survive if you had a reasonable mortgage or rent and no other debt.

winknod · 08-01-2010, 09:07 AM

Quote:

Originally Posted by Daddys///M3

Depending on what your pension is you might not "need" employment as well. Las Vegas cost of living is quite affordable. A pension of $4000 a month would be adequate to survive if you had a reasonable mortgage or rent and no other debt.

Damn straight.
I'm moving from Manhattan to Vegas with only my $430 unemployment check to start out. I paid cash for my house, my property taxes are $200/quarter!
That $430/week is going to get me a lot farther in Vegas than in New York, even groceries prices are shockingly lower! No more $6 boxes of Cherios and $3.50 loafs of bread!

I was fortunate enough to have a good amount in savings and no debt (a word to the wise!). Because of that, I don't have to stress too much about finding a job right away and Vegas does have a lot of jobs in my field.

Onlyliveonce · 08-01-2010, 09:11 AM

Keep the imput comming as I respect it from people LIVING in LV. It is amazing that in the years I have talked about this move with friends and family and no one agrees with me. It always starts with when I was out there the area looked horrible(always 1-2 blocks from the strip) or you willl hate the heat( I like the heat) or you have kids they will grow up to be strippers(they won't), this gets old and quick.. It amazes me that people who have never lived in an area have alot of negative to say about it. Law enforcement is not an option, as after 20 years I have had enough(getting old at 40 LOL) , so the security field is where I want to be. I hope to find a decent job at one of the many casinos or hospitals, airport ect... Until then I will have to survive on my pension. As far as my wife she needs to take and pass the Bar, but I figure RE law is in demand these days. Any imput on the areas I have listed ? I am looking to spend around 400k on a 3000 + SQF home. Once again thanks.

winknod · 08-01-2010, 09:44 AM

Sign up for property alerts in your areas at Homepath.com.
Their properties are initially offered only to owner occupants. I just saw a listing on there that I think was in one of the areas you listed: 4/5 Br (1 was a den) 3.45 Ba for $169K, gated community with a $50/mo HOA.
(I'm a recent transplant from NY, so I don't know Vegas neighborhoods that well.)

$400K is a huge budget, just keep in mind what you will pay to cool your huge space. When I had my utilities hooked up I asked each utility what the previous owner had been paying. I was shocked that the average water bill had been $250/mo! but they did have an irrigation system that I have disconnected and I'm going to tear up the lawn. (I don't have an HOA, so I can do what I damn want with my yard! :P)

Daddys///M3 · 08-01-2010, 10:13 AM

Airport security is going to be handled exclusively by the TSA. TSO's make horrible money, but TSS's, TSI's, and BAO's make pretty good money. No open TSA positions at this time. As far as hotel security goes, look for surveillance or security manager positions. I believe another poster on this board is employed by a casino in security surveillance. Perhaps they could answer more questions for you.

Have you given any thought to obtaining your NV Cat II cert and becoming a bailiff? Quite a few ex LVMPD go that route.

Onlyliveonce · 08-01-2010, 10:20 AM

Quote:

Originally Posted by Daddys///M3

Airport security is going to be handled exclusively by the TSA. TSO's make horrible money, but TSS's, TSI's, and BAO's make pretty good money. No open TSA positions at this time. As far as hotel security goes, look for surveillance or security manager positions. I believe another poster on this board is employed by a casino in security surveillance. Perhaps they could answer more questions for you.

Have you given any thought to obtaining your NV Cat II cert and becoming a bailiff? Quite a few ex LVMPD go that route.

Yes I agree. Thanks.