Trying to Invest in Las Vegas.. Roadblocked my Future Father in Law
Hello,
My future father in law bought a property in 93 which is an 8-plex in LA for around 300,000
He owns his own home currently ( beautiful home)
and owns a rental also ( I don't know when he purchased this)
He also has a real estate license ( he isn't an active realtor, he is retired and just invest in stocks now)
He believe california for the place to purchase property because you can see and feel it.
I am trying to convince him that just because its out of state, doesn't mean it can't be successful.
He says that unemployment is higher than anywhere else in the USA
California and Nevada are both around 6.7-7.1%
He says thats because obviously the population is much higher in california so its not comparison
He believe with the indian reservations in california, it will turn vegas the unpopular place to gamble and all of the las vegas community is fueled by gambling and entertainment.
If we go into a recession then obviously people will move from there just like what happen with the last recession.
Are their business big businesses moving to Nevada to help fix this issue?
I know Tesla is moving here, but northern nevada, will that help Las Vegas with growth potential.
He mentioned that most investors are going to Texas, which I know many of my clients invest there..but that kinda goes against his argument with seeing and feeling. I can easily make a trip to vega.... Texas not so much.
He also mentioned that with all the building out in vegas it will make homes like the one I'm interested in become "The Ghetto"
How is sunrise manor near el dorado park?
Is it the Ghetto?
Would it be considered A.B,C ? or even D? Class
Is there anything I have to fight my case or is this a lost cause?
Any Articles that can help me? Ive linked him a few but he says they are bias because they are Nevada written.