[ddrhazy]

I expect rents to rise 5%/year and will probably plateau in 5 years. We do still have plenty of land to develop, which is what has kept LV from reaching the home values we saw in 2006.

I think the limiting factor will be water in Clark County. No talk yet on a solution for an increase of allotment for the Colorado River but eventually California will have to give up it's own water as it's further down stream than us.

Less people are buying right now because rates have been rising but eventually the serious ones will pull the trigger knowing they are staying put here. LV continues to become a real city more and more each year. Most people that come here have the same story. They came from Southern California to escape taxes and traffic.

The taxes here will probably remain low in comparison to Cali as time goes on, but I have noticed that every year the 215 gets a little worse, and streets that were once clear in the afternoon are getting more crowded early. Like I said, LV is becoming a real city as time progresses.

Where LV lacks heavily is public transit, which is practically non existent. Scheduling more frequent buses can solve the issue and we have plenty of road space to accommodate bus only lanes in the higher trafficked streets but very little political will to do such things so far.

I'd also like to see denser/taller buildings in the more urban parts of town(think anywhere along the 15) that are zoned for mixed use to allow people the potential to live without a car. Even downtown apartments do not have the walkability of NYC/Chicago/Philadelphia where you can find a grocery store within 1/4 mile of your door. Public transit also fits into this part of the equation.

[Code Stemi]

Originally Posted by ddrhazy

We do still have plenty of land to develop, which is what has kept LV from reaching the home values we saw in 2006.

Conversely, are you saying in 2006 there was not plenty of land to develop?

[ddrhazy]

There was more back then, prices then were driven by the same factors as they are now. People fleeing expensive California cities that do not have develop-able land to solve their housing shortages.

[airics]

Originally Posted by ddrhazy

I expect rents to rise 5%/year and will probably plateau in 5 years. We do still have plenty of land to develop, which is what has kept LV from reaching the home values we saw in 2006.

I think the limiting factor will be water in Clark County. No talk yet on a solution for an increase of allotment for the Colorado River but eventually California will have to give up it's own water as it's further down stream than us.

Less people are buying right now because rates have been rising but eventually the serious ones will pull the trigger knowing they are staying put here. LV continues to become a real city more and more each year. Most people that come here have the same story. They came from Southern California to escape taxes and traffic.

The taxes here will probably remain low in comparison to Cali as time goes on, but I have noticed that every year the 215 gets a little worse, and streets that were once clear in the afternoon are getting more crowded early. Like I said, LV is becoming a real city as time progresses.

Where LV lacks heavily is public transit, which is practically non existent. Scheduling more frequent buses can solve the issue and we have plenty of road space to accommodate bus only lanes in the higher trafficked streets but very little political will to do such things so far.

I'd also like to see denser/taller buildings in the more urban parts of town(think anywhere along the 15) that are zoned for mixed use to allow people the potential to live without a car. Even downtown apartments do not have the walkability of NYC/Chicago/Philadelphia where you can find a grocery store within 1/4 mile of your door. Public transit also fits into this part of the equation.

I think the rents will go up a lot more than 5%, I am thinking 15%...the investors are gone, if they haven't bought by now, they won't be buying... not at a 300k average and 5% interest on the horizon

[ddrhazy]

The investors are looking towards stocks more and more. Full cash investors for a 300k house which rents $1500/month is looking at ~%5 ROI/year. When 2 year CDs are inching their way to 4%, why deal with the hassle of tenants?

[lvmensch]

Originally Posted by ddrhazy

The investors are looking towards stocks more and more. Full cash investors for a 300k house which rents $1500/month is looking at ~%5 ROI/year. When 2 year CDs are inching their way to 4%, why deal with the hassle of tenants?

It has been an appreciation play for a couple of years. If picking up more than 10% per year it is a pretty good investment.

People keep saying it cannot continue but it does.

[airics]

Originally Posted by ddrhazy

The investors are looking towards stocks more and more. Full cash investors for a 300k house which rents $1500/month is looking at ~%5 ROI/year. When 2 year CDs are inching their way to 4%, why deal with the hassle of tenants?

Bingo

And I’m done with tenants. Just evicted. They were there 6 years, as soon as I moved, the rent stopped

$14,000 in damage

[ddrhazy]

Sorry to hear that airics. Hopefully you had someone looking after your property when you moved so that they didn't squat rent free for long. A bad tenant can obliterate the entire year's rental income, and it's the reason I tell others that investment rentals is not so great.

It made sense 2008-2014 to buy, even if you weren't a hands on landlord and got yourself a property manager. The way the houses were priced and the rents they were earning, made it a no brainer. I would never give my rentals to a 3rd party, not even to a family member. If and when I leave LV, I'll be selling off my portfolio.

[airics]

Originally Posted by ddrhazy

Sorry to hear that airics. Hopefully you had someone looking after your property when you moved so that they didn't squat rent free for long. A bad tenant can obliterate the entire year's rental income, and it's the reason I tell others that investment rentals is not so great.

It made sense 2008-2014 to buy, even if you weren't a hands on landlord and got yourself a property manager. The way the houses were priced and the rents they were earning, made it a no brainer. I would never give my rentals to a 3rd party, not even to a family member. If and when I leave LV, I'll be selling off my portfolio.

Insurance is covering 6k of it, NLV PD is going after them with a vandalism charge. The wife has a great job so I’m going to attempt to garnish wages for the difference. House will be done in 3 weeks. I’m going to sell it around 260 just to get rid of it, and buy a 3rd here in Florida (no renting, flipping)

[ragabnh]

After you pay Property Manager, HOA, Taxes, insurance and Home Warranty, the return on your investment is 4% or even less. Which makes investing in real estate not good at this time. CD's and Dividend Funds are more appropriate and your money is Liquid. Speaking from paying cash perspective.