Help for a Newbie : )

3 Replies

Hello the smart people of the community,

My name is roy I live in Vegas NV and I’m tired of paying rent and not seeing any Financial freedom on the horizon. My wife and I saved 40k with time and we want to start invest in Real estate, Vegas is super expensive and I feel that we won’t get our money worth here. My question to you all is what are your criterions or what is your way to search for places to invest outside of your own state?

Thank you all🙏🏼

If you think Vegas is expensive I think your only real alternative is the Midwest. 

I consider Vegas a relatively cheap market when you consider most houses are less than 20 years old, have property taxes around $1600 and insurance under $600. Add no weather related problems and stucco siding. But I do agree you’re looking at $250-$270k for a nice place in a good neighborhood. 

Maybe you could buy a property as your primary and move out and repeat a year later? 10% down you could pull it off Twice. Or put 20% down to avoid pmi and lower payments and find a roommate?