All Forum Posts by: Brian Walters

@Saundra De Montano are there restrictions around corporate housing in the Las Vegas area similar to those around short term rentals? I know the city is tough on STR's but corporate housing sounds like an interesting way to go. I'm looking into condos in the city and the HOA numbers end some deals before they start. But that's based on long term rentals, not STR or corporate housing.

Would love to hear more about your experience, what areas you look for, etc.

Over priced or over valued... my question would be based on what?  As others have said, if people are willing to pay for something that isn't a necessity (which I wouldn't consider owning a home to be, it's something I feel anyone that wants should be able to have, but there are options for those that don't) then it's worth what people are willing to pay.

As someone that lived in NYC and even with a good job was never going to be able to afford a house unless it was inherited or we came into a large sum of money it's hard to understand how NYC is so far down that list.  We moved to Las Vegas in 2021 and own a home that literally 90+ years newer, upgrades like solar, and a cost less than half of where we were in NYC.  That sounds like a better value to me.

@Evangeline Lee I saw you posted several properties with purchase details. If you're comfortable sharing, how did you finance these purchases?  Each says conventional loans but with the total value of all the properties it would still require a lot of cash to get all of these done.  Also, were these all purchased around the same time?

HOA restrictions are always tough. As others have said here, it all depends on who is running the HOA and how strict they are with the rules. Problem is, if there's turn over it could all change unless you also join the board.

Finding a good place in this area without a HOA is easier said than done. There are some with lower monthly price points, but that doesn't necessarily mean less strict.

 Where is the property located within Vegas and what is the rent currently being paid by the tenants?

 Jake, are you originally from NY?  Moved here from NYC a year ago, looking to invest in this area because of the NYC price points and lack of familiarity with upstate NY.  Would love to connect an exchange ideas.

@Pascual Torres I'm in a similar situation where I live. We are looking to get into investing but properties don't last more than a few days and go for over asking, often sight unseen. The prices are increasing faster than you would think could be possible.

I'm not in a position to tell anyone what to do but we are doing our best to be patient. We look at properties daily, run numbers, if something looks decent we take another step but often can't compete with an all cash buyer.

Sometimes the best action is no action. Not going to buy something for the sake of saying we own one. For now I'm looking to continue to learn and take some of the money that would be a down payment and use it to make money for future investments.

Good luck

For Las Vegas there are a lot of restrictions on STR. Much less so in North Las Vegas and Henderson. Be sure to go through all the regulations, see what it takes to get a STR license, areas it's completely restricted, and everything else you can find specific to Vegas.

There are multiple forums on here on this topic so it's a good place to research as well.

Speaking as a home owner more than an investor here.  We just had turf installed in our home in las Vegas (so similar environment).  When we moved in a part of the yard was half grass/weeds half dirt.  We finally agreed to do it and it has been well worth it.  The yard looks better and our kids use it so much more than they did before.  

Ours came with a 10 year warranty and is designed for use with animals (3 different types of sand were used) so it should hold up over time.  The only thing our installer recommended was to have it "fluffed" a few times a year.  Of course he offered to do it for a fee.

If your renter has kids I think it will make a big difference, and as others have mentioned, a happy tenant stays longer. For our family, we definitely see a difference and enjoy having the space be more useable.  

From what I've seen a lot depends on the market. Some investors I have spoken to are far more concerned with appreciation potential than cash flow or COC from the start.