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Old 08-01-2012, 10:53 PM
 
7 posts, read 30,479 times
Reputation: 10

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I'm currently looking at purchasing a property in Vegas, solely for investment purposes. The Martin has caught my eye. Here are a few reason why I'm considering it a good buy:

1. 2bed/2bath totaling 1111 square feet are reasonably priced from $220k-$300k.
2. I noticed these floor plan units are being rented out for $1500-$2200 a month.
3. Price per square footage for these units are at an all-time low.
4. Great location means the unit will not be vacant too often. (I hope)
5. Yearly taxes for these units are estimated to be $1860.
6. Yearly HOA fees for these units will be $6266.04.
7. Just going to assume annual insurance will be $500.

$8626.04 annually will cover taxes, insurance, and HOA fees. If I'm renting a unit out at $1600 a month, It'll generate $19200 annually. That means $10,573.96 will be the taxable profit annually from the property. I've always had a theory that buying in hot spots where people want to live is always a good decision with investment properties.

Anyone have any other ideas or suggestions? I appreciate it.
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Old 08-01-2012, 11:15 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,998,514 times
Reputation: 5057
i'm assuming you are paying cash.... you can buy 2 sfr's (small) in summerlin or aliante for 120-150 each... rent them out for 1200-1500 each.. your hoa totals will be under 2k, your taxes will be under 2k for both, your insurance 700 for both....2700 x 12 = 32400 - 4700 = 27,700 and if you think Panarama north ( i mean the Martin which is a very hard sell) will appreciate greatly.... you're bananas in my opinion.. the only thing thats going to appreciate is the cost of hoa
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Old 08-02-2012, 12:00 AM
 
3,598 posts, read 4,949,986 times
Reputation: 3169
The Martin is one of the LEAST likely to be a good investment. Search other threads on this board and you'll see why.
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Old 08-02-2012, 03:20 AM
 
2,724 posts, read 4,764,096 times
Reputation: 1042
Quote:
Originally Posted by logline View Post
The Martin is one of the LEAST likely to be a good investment.
...appreciation (down the road) is the ???
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