Tuesday, October 30, 2012

Buying Investment Property In Las Vegas is Worth it.

Yes Buying investment property in Las Vegas is still well worth the effort.  It amazes me just how low prices have come down on investment and income real estate in Las Vegas.  It also amazes me that rents have not dropped much at all over the past several years.  Your cash flow opportunities are very good now and if you have cash you can find plenty of bargains.  Buying now in Las Vegas will be a good bet because it is unlikely we will see anothe meltdown of prices, at least not for a few years.  I am worried that Las Vegas may turn into a boom and bust cycle like we have seen at times in California and in Houston Texas.  However, it would be ideal if home prices would settle into a normal appreciation rate and be more reflective of the typical wage in the city.  However, with the influx of investors snapping up property we are probably seeing the making of another short term bubble.  Hopefully the pricing will be more stable in the near future but you can be assured that if we see any major appreciation most sellers will not think twice about dumping their property.  Too many investors were burned by the 60% drop in housing values in Las Vegas and many people will not make that same mistake again. 

This should not discourage anyone from getting into the real estate game.  Now is one of the best times to start looking to buy.  If you want to buy and flip or buy and hold you are in the right market.  I continually see the experts and gurus advertising to sell there books and products on how to profit from real estate.  I have read most of their work and advice.  You can learn from just about all of them yet I still see people complaining online about being ripped off or forced into investing their life savings into real estate buy some guru.  I don't think you need to go down that road or be silly enough to think it is easy to make a living investing in real estate.  I can tell you that living as a real estate investor can be fun and exciting but it is a tremendous amount of work.  It also takes a tremendous amount of work and study to be successful.  The other important ingredient is that you have to love real estate, houses and property and make it your passion.  If you do not love real estate on some level it will be very hard for you to stay focused long enough to learn all you need to learn to become wealthy.  It is not an easy road but it is possible and with hard work and dedication you can build an amazing portfolio in the next five to ten years. 

It also can be done by starting with little or no cash of your own but it is much easier to start if you have a way to get a down payment for at least one property.  I highly recommend keeping your day job while starting as an investor.  If you keep your job and save your money you will be ahead of the game.  As you grow your cash flow and your assets you will eventually be able to leave your day job if you wish.  However, it is very important to have a W-2 if you want to qualify for loans and if you want to use leverage to the best of your ability.  It is not impossible if you do not have a steady income but this just makes it much easier to get funding needed for your investments.  at

Find out more on investing in Las Vegas Real Estate Here at www.consideritsoldlasvegas.com

 

2 comments:

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