Greetings Everyone

Hello,

My name is Damon and as I live here in Las Vegas, Nevada. I'm sure all of you are already quite aware of the huge surplus of homes now available in this city and at what now seem to be very good prices. My goal is to learn as much as I can about real estate investing from all of you as well as any other sources of information recommended to me. I have a business that I run full-time and very much enjoy, so I am not looking to change careers - at least not for the time being. However, the opportunities seem too good to pass up at the moment.
What I'd like to do ideally is look for low priced income property, perhaps a condo or two. Is this the right approach? I've talked to friends who discourage the notion while others say that it is a great investment. Where can I go to learn more? Is there a more ideal route to take?
Hopefully I will be able to one day contribute back to these forums with the knowledge I have gained, but until that time all I can say is thank you in advance and I look forward to any and all feedback.

-Damon

Edited: 06/26/2010 at 07:50AM by D Williams

Greg Boots

Real Estate Attorney · Seattle, Washington

75 posts
74 Influence
1 Award

Icon_minipost Apr 05 '09, 11:57 AM

Damon,

Welcome to the site. There are some great deals in your area. I have picked up a couple of commercial properties in Vegas. Don't let people discourage your goals, all you have to do is believe in yourself, learn as much as you can and then put your plan in place.

To your success.

Greg

Edited: 06/26/2010 at 07:50AM

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

10629 posts
46531 Influence
24 Awards

Icon_minipost Apr 05 '09, 11:19 PM

Welcome to the site, Damon. The key to finding deals is understanding what a deal it. Your strategy of investing is going to determine the kind of deal you look for.

Start reading the forums -- Starting Out and General Real Estate Investing, and from there you'll get a better idea of what some of the strategies are. I'd also jump on the Article directory and start reading.

Once you have a good idea of what you're interested in (landlording, wholesaling, etc), dive into those forums.

Condos can be good investments, as can any other property type. You just need to understand how to determine whether they are at the price you find.

Edited: 06/26/2010 at 07:50AM

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D Williams

· Las Vegas, Nevada

4 posts

Icon_minipost Apr 06 '09, 02:35 PM

Hey Guys,
Thanks for the feedback so far!

Edited: 06/26/2010 at 07:51AM

Dick Green

Residential Real Estate Broker · Conroe, Texas

1596 posts
1347 Influence
4 Awards

Icon_minipost Apr 07 '09, 11:49 AM

Hi Damon,

Welcome to the group. There's quite a few people here from Vegas. Glad you joined.

Edited: 06/26/2010 at 07:51AM

Gary Coles

Real Estate Consultant · Las Vegas, Nevada

26 posts

Icon_minipost Apr 07 '09, 02:26 PM

Hi Damon,

Welcome. I think you have taken a great first step by joining bigger Pockets. I have viewed a lot of foums and blogs and thisis one of the best. There is so much great knowledge to be gained here. Also the members are genuine in helping each other.

I also live in las Vegas (although I am in the mountains of Wyoming building a house for my Mom -- about eight feet of snow in the last few weeks -- I miss Las Vegas).

I think that if you are very careful there are some good investments to be found.

Gary

Edited: 06/26/2010 at 07:52AM