Due to strong demand for more information regarding investing in Las Vegas cashflow properties, I am hosting a small group workshop at 8:00 Wednesday, September 28, 2011, at the offices of Intercap Lending (9401 Jeronimo, Suite 200, Irvine, CA 92618).
The purpose of the small group setting is to provide more opportunity for attendees to ask questions and get individual attention. I will stay as late as necessary to speak individually with everyone. The venue is a classroom with limited seating, so please RSVP to reserve your place. sales@idealhomebrokers.com
2214 Akamine Ave, North Las Vegas, 89031$149,900 Sale Price
Investor purchase as rental PDF
Status: Rented, Available for sale
Contact me for more information: larry@idealhomebrokers.com
Thanks for the cash flow analysis. I was wondering if at the current low interest rates whether a 20% down would return an immediate positive flow.
Not.
Friends are in this situation, small negative cash flow, with their Reno rentals bought with mortgages.
Best to Irvine Renter
The properties in Las Vegas all have tremendous current positive cashflow. With 20% down, a typical Las Vegas rental throws off about $300 per month beyond all expenses including reserves. Here in Orange County it’s difficult to find a positive cashflow property, but in Las Vegas, they are quite common.
Your post above this one had this paragraph:
“There are many reasons to buy real estate, and it won’t be a loser for those buying over the next several years, but buyers need to have realistic expectations. Buy because you want to provide a stable home for the family, but forget the nonsense about appreciation. It isn’t going to happen.”
From the cash flow analysis it looked like you were counting on appreciation to make your score.
What did I miss? I skim read so I must have missed something important.
Best
The current cashflow on Las Vegas properties is excellent. I also happen to believe they will see rebound appreciation after the supply issues are resolved years from now. I have factored the effect of appreciation into the internal rate of return for these properties. I also tell people to buy them for their current cash returns because those returns alone are outstanding. Any appreciation should be considered a bonus. Personally, I don’t care if they appreciate or not as I intend to hold them perpetually for their cashflow.
My bad. I didn’t recognize that on the left was the 30 year and on the right the 15 where the parentheses were. Speed reading without comprehension!!!!
We are retired so cash flow is much more important than appreciation unless one considers passing on a good asset to the kids.
I have a real pain in the ass rental in San Jose and am seriously considering selling and doing some diversification using the proceeds to buy newer rentals in Reno, which is close to home.
We would consider properties in the Sacramento area except that California balances towards the tenants instead of the owners. Any thoughts on this is a true statement?
Thanks again for the blog as it has opened my eyes about RE. You, Calculated Risk and the late Tanta have been the best.