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Planning to invest in Vegas....

I'm a Canadian living overseas now and planning to invest real eatate market in Vegas, but would like to get some advice on my following concerns:
1. I may not be able to manage the property regularly since I live overseas, whether invest condo will be better than single house?
2. I want to see the return monthly, eventually appreciation for long run. Whether condo will be good for it?
3. Where is the best location in Vegas for rental?
4. As a Canadian, whether I can live in US to look after my investment? Do I need any special permit or visa? 
 
  • June 07 2012 - Las Vegas
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Answers (12)

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Thanks Linda! Please send me the listing details at fcai1229@gmail.com.
  • July 08 2012
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what is the budget?  I have a great 3 bedroom condo in the heart of green valley that isn't showing up in my listings for whatever reason...
it's occupied with a long term tenant...it may be perfect for your needs...
if you contact me directly I can send you the listing details
  • July 07 2012
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Thanks Jim and I'll go through all the details.
  • July 05 2012
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By the way, there are about 20 pages on my site that answer questions that you haven't thought of yet. You can google my name to find me and/or search ifindproperties.
  • July 05 2012
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There is no correlation between quality of tenants and quality of neighborhoods. We evict just as many tenants in an "A" neighborhood as an "F" neighborhood. There is a correlation between types of tenants. A tenant that is doing a lease/purchase is hundreds of times better than a tenant who is doing a straight lease.
  • July 05 2012
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Dear Matt, I'll appreciate I could discuss with you more. Please let me know your e-mail address. Here is mine [hotlink removed by Zillow moderator] . Fang
  • July 05 2012
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Dear Linda, I can be cash buyer which will depend on the price of the properties. If I can, I'd love to use mortgage in order to maximize my investment. Fang 
  • July 05 2012
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Thanks Jim! I agree that I may get best GROSS cash return in the worst neighborhoods, but there may be more issues with the tenants. In my case which can be cost, eventually the net return might be lower. this is just my concern as I may need to hire an agent to manage the prperty. Fang 

  • July 05 2012
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1. If you have cash, you are in business. America doesn't care who you are.
2. Single Family homes have better cash flow than condos.
3. The best returns on cash are in the worst neighborhoods. The best neighborhoods are the worst on cash return.
4. No special permits or requirements are needed.

[phone and hotlink removed by Zillow moderator]
Jim
  • June 18 2012
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are you a cash buyer?
  • June 14 2012
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Hello fellow Canadian. What city are you from?  (I'm originally from Calgary but moved to southern California in 1998.)

Answers to your questions:

1.  We typically recommend single-family homes over condos as investments, but either way you should have a professional property manager looking after your property.  Do not manage your own property - just "manage" the manager.

2.  Every investment property we offer generates monthly cash-flow and your property manager will send you a check every month.  (It does not matter whether it's a condo or not.)

3.  There are many areas (or zip codes) that make for a good rental market.  Visit our website for some examples.

4.  I can put you in touch with my immigration attorney if you are looking for a visa or to move here.  Just let me know.

Visit our website for more information and a selection of our turnkey investment property in Las Vegas.

Thank you,

Marco Santarelli
.
  • June 07 2012
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Good Morning,

I would suggest you hire a property manager as you will not be able to effectively have rentals here without a local contact.  Most of the investors I am working with try to stay away from condos as their returns are lowered due to high HOA dues.  To best find the most depressed properties to look towards future appreciation, you need to work with an experienced Realtor who works with investors consistently.  Dont just buy any property, have it analyzed for rents, less expenses.  My clients love getting spread sheets with this data.  As far as location, there are many desirable areas, but overall most people like newer homes near freeways.  Lastly, I have worked with multiple foreign investors and specifically, one Canadian citizen that works in China.  He is working with an attorney now to gain dual citizenship by starting a company here that manages real estate.  You will have to dig deeper with an attorney to find out if that will work for your specific situation.  Let me know if you would like to discuss further.
  • June 07 2012
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