Need advice on Las Vegas Real Estate

[cmoney]

I am in Vegas all the time . I am getting a little sick of the hotel lifestyle as I am starting to be there for longer stretches at a time. So I am thinking maybe I should buy a place. The only place I know of that is by the strip is the Panorama towers and have no idea if that place sucks, is over priced or what. Given how may listings there are , it may be a good time to buy in that building, I dunno. I frankly know nothing about Las Vegas real estate market except that it has taken a nose dive. I know that I want to be close as possible to the strip and dont want a house.

Any ideas?

[ShadyJ]

I am in Vegas all the time . I am getting a little sick of the hotel lifestyle as I am starting to be there for longer stretches at a time. So I am thinking maybe I should buy a place. The only place I know of that is by the strip is the Panorama towers and have no idea if that place sucks, is over priced or what. Given how may listings there are , it may be a good time to buy in that building, I dunno. I frankly know nothing about Las Vegas real estate market except that it has taken a nose dive. I know that I want to be close as possible to the strip and dont want a house.

Any ideas?

I hear Micon has an open room

[Dan Druff]

I am in Vegas all the time . I am getting a little sick of the hotel lifestyle as I am starting to be there for longer stretches at a time. So I am thinking maybe I should buy a place. The only place I know of that is by the strip is the Panorama towers and have no idea if that place sucks, is over priced or what. Given how may listings there are , it may be a good time to buy in that building, I dunno. I frankly know nothing about Las Vegas real estate market except that it has taken a nose dive. I know that I want to be close as possible to the strip and dont want a house.

Any ideas?

My advice would be to stay away from condos, as there is still plenty of time for them to decrease in value.

Buying any real estate in Vegas is a risk right now, though I think single family houses have a better chance at holding value than condos. The downside to houses is that there's the matter of upkeep, and that's hard to do when you're away for months at a time.

You might want to read this: http://hiriseliving.com/sites/defaul...for%20Sale.pdf

It is a report on high rise condo sales.

On the bright side, it seems that condos are slightly appreciating in value at the moment. It also seems likely that there won't be any new condo construction for another 10-15 years, given the over-inventory at the moment.

I believe Panorama has HOA fees of 43-50 cents per square foot, which is on the lower side of high-end condos, but still too much, in my opinion. HOA fees are a killer when it comes to investing, as they can easily add up to $50,000-$100,000 in a ten year period.

[WillieMcFML]

you can get a mcmansion for like 250k

hire a property management company to rent it out when you aren't in lv

and pretty sure a cmoney pool party in the summer would be top top

[Deal]

I wonder how much pissing on the interior walls depreciates the value of LV property?

[Walter Sobchak]

I wonder how much pissing on the interior walls depreciates the value of LV property?

Why would you wonder something like that?

[Dan Druff]

you can get a mcmansion for like 250k

hire a property management company to rent it out when you aren't in lv

and pretty sure a cmoney pool party in the summer would be top top

I think cmoney just wants to go to Vegas when he feels like it, and doesn't feel like providing some property management company with a schedule of when to rent it out.

Actually, if you can get a competent gardener who doesn't need your guidance to do things right, you can pretty much let the house sit empty, provided you don't leave too much valuable stuff there. (Burglaries of temporarily vacant houses is common in Vegas.)

You will need to get used to the idea of driving a bit (10-20 min) to get to the strip, as the area right by the strip sucks, and you would not want to buy any houses there.

[vegas1369]

Turnberry Place was the baller joint before Panorama was built.

http://www.turnberryplace.com/

There are a lot of condos near the strip on both ends, so if I were you I would get with an agent and drive around for a few days.

Why are you so against a house? It would be a much better investment and easily maintained.

[cmoney]

I am in Vegas all the time . I am getting a little sick of the hotel lifestyle as I am starting to be there for longer stretches at a time. So I am thinking maybe I should buy a place. The only place I know of that is by the strip is the Panorama towers and have no idea if that place sucks, is over priced or what. Given how may listings there are , it may be a good time to buy in that building, I dunno. I frankly know nothing about Las Vegas real estate market except that it has taken a nose dive. I know that I want to be close as possible to the strip and dont want a house.

Any ideas?

My advice would be to stay away from condos, as there is still plenty of time for them to decrease in value.

Buying any real estate in Vegas is a risk right now, though I think single family houses have a better chance at holding value than condos. The downside to houses is that there's the matter of upkeep, and that's hard to do when you're away for months at a time.

You might want to read this: http://hiriseliving.com/sites/defaul...for%20Sale.pdf

It is a report on high rise condo sales.

On the bright side, it seems that condos are slightly appreciating in value at the moment. It also seems likely that there won't be any new condo construction for another 10-15 years, given the over-inventory at the moment.

I believe Panorama has HOA fees of 43-50 cents per square foot, which is on the lower side of high-end condos, but still too much, in my opinion. HOA fees are a killer when it comes to investing, as they can easily add up to $50,000-$100,000 in a ten year period.

Thanks for this.

You are right that the home association fees would really make it less appealing. Some of the places I was looking at in that building are around 1700 sq fee which would mean 800-900 a month for stuff I probably wouldnt even use. From an investment standpoint, you are probably dead on that a house vs a condo would be the best investment.

I am not sure if I can shake the desire to be right on the strip though, but in order to do that, I may be forced to deal with HOA fees. Like you pointed out, I have seen the homes along the strip and almost all of them are dumps.

[Pooh]

I wonder how much pissing on the interior walls depreciates the value of LV property?

[Pooh]

I wonder how much pissing on the interior walls depreciates the value of LV property?

Why would you wonder something like that?

Because cmoney has been known to piss on the walls in his Wynn hotel room when he loses.

[Pooh]

My advice would be to stay away from condos, as there is still plenty of time for them to decrease in value.

Buying any real estate in Vegas is a risk right now, though I think single family houses have a better chance at holding value than condos. The downside to houses is that there's the matter of upkeep, and that's hard to do when you're away for months at a time.

You might want to read this: http://hiriseliving.com/sites/defaul...for%20Sale.pdf

It is a report on high rise condo sales.

On the bright side, it seems that condos are slightly appreciating in value at the moment. It also seems likely that there won't be any new condo construction for another 10-15 years, given the over-inventory at the moment.

I believe Panorama has HOA fees of 43-50 cents per square foot, which is on the lower side of high-end condos, but still too much, in my opinion. HOA fees are a killer when it comes to investing, as they can easily add up to $50,000-$100,000 in a ten year period.

Thanks for this.

You are right that the home association fees would really make it less appealing. Some of the places I was looking at in that building are around 1700 sq fee which would mean 800-900 a month for stuff I probably wouldnt even use. From an investment standpoint, you are probably dead on that a house vs a condo would be the best investment.

I am not sure if I can shake the desire to be right on the strip though, but in order to do that, I may be forced to deal with HOA fees. Like you pointed out, I have seen the homes along the strip and almost all of them are dumps.

Out of curiosity what is your price range?

[NaturalBornHustler]

Cmoney makes all the right moves, kid is a fucking boss.

Vegas real estate is just coming out of a period where values were completely destroyed. You wouldn't believe what you can get out there for 200k, I have looked into relocating there recently. It is unbelievable.

And yeah fuck any condo with HO fees, it makes no sense to kick out that money every month for a condo you will hardly ever be in. It would be a cold day in hell before I paid $900 a month for that bullshit.

You can get a crew full of illegals to keep your house in flawless condition for about $200 a month if that.

[Pooh]

Cmoney makes all the right moves, kid is a fucking boss.

Vegas real estate is just coming out of a period where values were completely destroyed. You wouldn't believe what you can get out there for 200k, I have looked into relocating there recently. It is unbelievable.

And yeah fuck any condo with HO fees, it makes no sense to kick out that money every month for a condo you will hardly ever be in. It would be a cold day in hell before I paid $900 a month for that bullshit.

You can get a crew full of illegals to keep your house in flawless condition for about $200 a month if that.

I agree. In fact, Druff would be wise himself to purchase a home out there now too imo.

[BCR]

Are there single family homes in proximity to the strip in areas where they will maintain their value? I can't think of any, but I am not local.

Vegas just seems so easy to get around in that I think I'd just go south of town and buy a home in your spot with what's available for so little. The ride in just seems inconsequential to me compared to real cities.

[WillieMcFML]

Are there single family homes in proximity to the strip in areas where they will maintain their value? I can't think of any, but I am not local.

Vegas just seems so easy to get around in that I think I'd just go south of town and buy a home in your spot with what's available for so little. The ride in just seems inconsequential to me compared to real cities.

my brother lived like 15 minutes from the strip, easiest drive ever

people in vegas are really spoiled when it comes to traffic (outside of the strip on really busy nights)

[vegas1369]

Are there single family homes in proximity to the strip in areas where they will maintain their value? I can't think of any, but I am not local.

Vegas just seems so easy to get around in that I think I'd just go south of town and buy a home in your spot with what's available for so little. The ride in just seems inconsequential to me compared to real cities.

Green Valley... 10-15 minutes from the strip and right next to the airport. That is where I would look if I were cmoney. There are also a lot of really nice homes close to the strip that are not in neighborhoods and have no HOA, southwest of the strip and in some areas by Green Valley as well.

[cmoney]

Cmoney makes all the right moves, kid is a fucking boss.

Vegas real estate is just coming out of a period where values were completely destroyed. You wouldn't believe what you can get out there for 200k, I have looked into relocating there recently. It is unbelievable.

And yeah fuck any condo with HO fees, it makes no sense to kick out that money every month for a condo you will hardly ever be in. It would be a cold day in hell before I paid $900 a month for that bullshit.

You can get a crew full of illegals to keep your house in flawless condition for about $200 a month if that.

I appreciate the kind words sir. I actually made a bad real estate move in 2007 before the meltdown. But luckily got out of it since then relatively unscathed. I think now is the time to jump back in if the deal is right.

[cmoney]

Thanks for this.

You are right that the home association fees would really make it less appealing. Some of the places I was looking at in that building are around 1700 sq fee which would mean 800-900 a month for stuff I probably wouldnt even use. From an investment standpoint, you are probably dead on that a house vs a condo would be the best investment.

I am not sure if I can shake the desire to be right on the strip though, but in order to do that, I may be forced to deal with HOA fees. Like you pointed out, I have seen the homes along the strip and almost all of them are dumps.

Out of curiosity what is your price range?

500k -1. Really can jump on anything if it makes sense. I am of the camp that inflation is coming so locking down rates and prices in usd is a good idea right now.

People laughed at me when I went heavy Gold and Silver. But now shortening positions . Bought 700 acres in Oregon with a huge river running through it which is perfect pot growing property for when it becomes legal. Worse case it is a cool retreat if things get nasty.

I am somewhat of a prepper and if shit went down I could live on that property for 5 years without issue. Got ammo, 50 cases of Johnny Walker Black label, food etc.

If you are in majority, you are most likely wrong. Words to live by

drunk rant for night.

btw, Johny walker black is hands down the best blended scotch on the market

[chinamaniac]

Out of curiosity what is your price range?

500k -1. Really can jump on anything if it makes sense. I am of the camp that inflation is coming so locking down rates and prices in usd is a good idea right now.

People laughed at me when I went heavy Gold and Silver. But now shortening positions . Bought 700 acres in Oregon with a huge river running through it which is perfect pot growing property for when it becomes legal. Worse case it is a cool retreat if things get nasty.

I am somewhat of a prepper and if shit went down I could live on that property for 5 years without issue. Got ammo, 50 cases of Johnny Walker Black label, food etc.

If you are in majority, you are most likely wrong. Words to live by

drunk rant for night.

btw, Johny walker black is hands down the best blended scotch on the market

You should def try and get on doomsday preppers!