Las Vegas Market Condition Feedback

[Jack Ramsey]

Hi, I've recently relocated to Las Vegas and am looking to buy an investment property either SFH or Townhome but seems like it's very tough to find good properties that would cash flow, at least via MLS. So my question is, what do the local investors think about Las Vegas market condition in prime areas like Green Valley? What is the the mid term (1-3 yrs) outlook for this market? Are we due for another correction?

I see multiple offers and above asking which I hear is starting to resemble pre 2008 crises.  Your thoughts and guidance would be greatly appreciated.

Jack

[Joseph Gozlan]

@Jack Ramsey Vegas is not unique about it. It happens all over the country. 

I know this won't be a popular opinion but my take is that market conditions don't really matter. In real estate you make your money when you buy. If you pay attention to the fundamentals, make sure your property cashflowes after ALL expenses and capex reserves and you're in it for the long run, you will do fine. 

Just remember, Hope is NOT a strategy!