BiggerPockets

Looking at the super-low prices in Vegas now, I'm tempted to buy a vacation condo or SFH there. The problem is, everything seems to have a HOA! It seems that almost all of them don't allow you to rent out your place. So I'd go for a week or two a year, and it would sit empty the rest of the year. This seems like a bad idea to me.

In my mind this mindset has helped cause the crash out there, since people struggling to pay the mortgage couldn't rent out their place to cover for it!

Do you think HOA's are going to allow people to rent, I mean they are a vacation spot!

HOA. it seems that almost all of them don't allow you to rent out your place.

Not sure what complexes you are looking at Steve but virtually all the condo/townhome buyers in Vegas right now are cash buyers who are turning around and renting their places for cashflow .... I'd venture to guess most HOAs allow rentals. The HOAs are probably happy to finally have someone actually paying their dues!

I started out looking at Vegas condos in May & June of this before deciding on a SFR .... paid a little more but figure appreciation and rental income will be higher and more importantly, I won't have to deal with increasing HOA fees and the potential for special assessments. Also the SFR gave me an additional exit strategy should I decide to sell. I think a SFR should be easier to sell than a condo where I'd probably be limited to cash investors because of today's strict lending guidelines.

Steve if you're still looking let me know. Lots of deals out here. Moved out here last year from your area but know the area well already, have family here.

April