Investing multifamily apartments in Las Vegas safe?
Hello, me and my family have around $300,000 of cash. We are thinking whether we should invest multi family apts in California or Las Vegas..
I know that Las vegas is cheaper and have more cash flow, but I heard that people in las vegas there are many overturn rates. I heard rumors that says out of state investors in Las vegas are looking for "next sucker" to buy the property from them because they are having bad experience. I think it might be because of high gambling rate and other stuff. If we buy a property, we were thinking of about $1200,000 to $1400,000 in vegas or California.
Can any body tell me their own experience investing in "multifamily apts" in Las Vegas? should I avoid it?
Also if I invested in both Los Angeles and Las Vegas $1000,000 apts, what would be the tax difference be? will CA be alot higher?
Thanks for reading.