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Real Estate Investing, Las Vegas Vs Phoenix!!

Hi, i am a real estate investor who already has a SFR in las vegas that i bought last year and it is rented out. I was going to buy a few more properties but i am thinking of investing in Phoenix now. My vegas house is cash flow positive but has lost about 5% of its value in the last year. How is the Phoenix real estate market? Better than Vegas, worse than Vegas, same as Vegas??? Or is it wise just not to invest for another 2-3 years in either of the cities when probably the market would be close to bottom. I live In los Angeles and would be an absantee landlord.
Thank you. Sid
  • February 23 2012 - Las Vegas
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Answers (6)

Since this was originally posted the Las Vegas market has gone up. Demand has continued to increase month after month and inventory has declined since Feb. AB284 has caused the foreclosures to literally come to a stand still and in turn reducing available inventory drastically. I hop you still have your SFR as you should be realizing some appreciation by now as well as your monthly cashflow.

I am a real estate broker in Vegas but not in AZ. I do however, have several clients that have started purchasing in Vegas due to the low inventory in AZ. It seems AZ recovered a little sooner than Vegas and buyers/investors started buying up the available listings. It seems that Vegas is following AZ's trends.
  • November 05 2012
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Phoenix is rising and Las Vegas is still declining. However, I still think the Las Vegas market is undervalued and it's a great time to buy. Since I typically work with investors that flip properties, I just think it's a good idea to buy a distressed property and do some rehab work. That way, if you buy it at 70% of market value and put 10% into rehabbing it, it'll save you from having the market value drop below what you put into it, while maximizing your return.
  • March 16 2012
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Phoenix is better in my opinion. We have been announced the 3rd fastest recovering city in the states. I saw it on yahoo front page but correct me if im wrong. Of course everyone has different opinion. Our market here is stronger and we have realtors rebuilding our city. They are doing an amazing job remodeling homes and getting our market back up on its feet. You should def. look into it. Hire a good agent and you wont make a mistake. It all really comes down to what you are trying to do with your money and you want you flow to be. Renting or flipping? Thats what it comes down to here for now. Contact me for further details. 
  • March 01 2012
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Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.That being said, now is a great time to build your portfolio. It's easy to find cash flow positive properties that will certainly appreciate over time.

  • March 01 2012
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Henderson, Green Valley r good areas to invest in. Summerlin is even more upscale but properties are generally a little more expensive in that area compared to the rest of Las Vegas.
I dont think the prices in Las Vgeas have bottomed out and thats the reason why i was looking at Phoenix to make my next move.
I dont use a property management company. My friend moved to vegas last year and is taking care of my house and also paying rent so it has worked out really well for me. But in one year my house has lost a little bit of value because of falling prices.
Would you recommend any particular reas in the Phoenix metro area for investment purposes? I was looking at gilbert, mesa, Peoria etc. Scottsdale looks a little expensive for me to invest in.
Also u said that your properties have risen in value since u bought them, do u see the trend continue?
  • March 01 2012
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I'm the reverse of your situation. I own properties in Phoenix, and am looking at Las Vegas for my next move. I'm also an absentee LL in both cities. Looking specifically at the Henderson/Green Valley area. Have the prices in LV bottomed out and safe to buy now? Looking at purchase of 80K in Henderson to rent out.

Do you have a good property manager that you use that charges less than 10%?

BTW. Phoenix RE market has been rising since I bought the houses.
  • March 01 2012
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