Answers (6)
- Linda Strasberg, "L Strasberg"
- Contributions:2563
http://maxwellinstitute.byu.edu/publications/books/?bookid=128&chapid=1521
- Ashley McCormick, "LasVegasRealEstate."
- Contributions:10
Most agents just pick the lowest priced home in the area and say "good deal" - when you could cross the street into another community and get the same rent per month in a 0 assoc or less than $50 a month assoc.
Some properties in popular communities like Summerlin may have double fees (master, community)
Great area - but for immediate money and cash flow there may be better options.
And Yes, Vegas is considered the best in US right now for price to rent ratio so you are in the right market with 10%+ immediate opportunities.
- Maria Antonieta Pena, "mlxrealtor"
- Contributions:19
- Preston Ford, "PrestonFord"
- Contributions:10
Residential real estate investing can be very lucrative if you know what you are doing or are working with an expert. The leasing market is very good right now so vacancy factors have improved. Further, in my market, I am seeing tenants bbe more willing to sign a long-term lease greater than 12 months (24 months or longer).
However, with that said, there are still many risk factors that should be taken into account. Work with a professional realtor who understands these risks. Also, there are great software programs out there to help you analyze your returns (i.e. cash-on-cash, IRR, GRM, etc.). I use Landlord Analyzer Pro. I am very happy with the software interface.
I would expect a minimum of 8-10% cash-on-cash within 5 years before I would get interested in a property. And, this assumes I have been very conservative in my cost and rental incomes estimates. Good luck.
- Linda Strasberg, "L Strasberg"
- Contributions:2563
Have you heard of the 0-0-3 Rule? Banks lend nada, banks pay nada to depositors and take off at 3pm for the golf course.
Anticipate 9-18% ROI when buying income producing rental properties here depending how great a deal I find you (less the cost to make the necessary repairs...see your accountant re write offs...professional services, repairs, HOA's, etc...or visit
What kind of cash on cash returns can I expect on residential investments?
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Hope this helps some!
Dale
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