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Investing in Las Vegas real estate?

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I have about 100k saved in a CD and a brokerage account. I'm looking to invest in real estate and with the Raiders moving to Las Vegas, do people it's a good idea to jump in now?

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Even 20 years ago tuna was $50-$100 if you're a local. And $250 & up for out of towners. And not in Las Vegas proper eit... (more)

zapjb (Mar. 30, 2017 @ 8:52p) |

ohhhhhhhh

solarUS (Mar. 30, 2017 @ 11:04p) |

What's worse is that it's the same Barber giving him that exact same haircut since College.

lotusgardener (Apr. 04, 2017 @ 2:28p) |

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A fool and his money...

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Using you and FWF as a contrarian indicator it's time to short Vegas RE. What's the best way to do that now? Go Raiders!

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I heard Vegas is the next Vegas.

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Blue Horseshoe Loves Anacott Steel

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prediction - vegas real estate bubble popping soon. Sell if you're in thanks to the FW effect

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duyvnguy said:   I have about 100k saved in a CD and a brokerage account. I'm looking to invest in real estate and with the Raiders moving to Las Vegas, do people it's a good idea to jump in now?
  The public money spent to construct the underutilized stadium (handful of games a year) will be a drag on taxpayers in Vegas.

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imbatman said:   prediction - vegas real estate bubble popping soon. Sell if you're in thanks to the FW effect
  Serious question. Did a new bubble form this decade?

Las Vegas was one of the hardest hit big city markets in 2005-2008.

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stanolshefski said:   
imbatman said:   prediction - vegas real estate bubble popping soon. Sell if you're in thanks to the FW effect
  Serious question. Did a new bubble form this decade?

Las Vegas was one of the hardest hit big city markets in 2005-2008.

  my comment was tounge and cheek, but since you asked, I researched.
source and source home values were "way up" last year. Definitely not a comprehensive search.

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ArmchairArchitect said:   
duyvnguy said:   I have about 100k saved in a CD and a brokerage account. I'm looking to invest in real estate and with the Raiders moving to Las Vegas, do people it's a good idea to jump in now?
  The public money spent to construct the underutilized stadium (handful of games a year) will be a drag on taxpayers in Vegas.

  
Money for the Stadium is coming from a hotel tax.  All the visitors pay for it, that's why it passed so easily.

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lotusgardener said:   
ArmchairArchitect said:   
duyvnguy said:   I have about 100k saved in a CD and a brokerage account. I'm looking to invest in real estate and with the Raiders moving to Las Vegas, do people it's a good idea to jump in now?
  The public money spent to construct the underutilized stadium (handful of games a year) will be a drag on taxpayers in Vegas.

  
Money for the Stadium is coming from a hotel tax.  All the visitors pay for it, that's why it passed so easily.

  The additional tax revenue could've been used elsewhere for more worthwhile investments.

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^ OT PHX is finally giving up on tax payer "public partner" sports stadiums. Finally!

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Vegas has to be the most volatile real estate market in the country. If you're not a real estate professional, you'd be better off putting your money down on some green felt in one of those fancy places with all the neon down the road from the piece of property you are looking at.

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100K you need more than that, I live here and real estate prices are up 20 - 30 % over the last 3 years depending on the area.    Nothing in a good neighborhood exists for 100K, you will be able to but in the getto's for that though

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Yet another exhibit that the housing bubble is fast inflating..

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Beware of LLC s.

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Investing in LV only makes sense if OP could also convince Nevada's small government conservatives to commit public money toward building him/her a new house, word on the street is that having a terrible haircut somehow helps.

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Randor said:   Investing in LV only makes sense if OP could also convince Nevada's small government conservatives to commit public money toward building him/her a new house, word on the street is that having a terrible haircut somehow helps.
  
a very very very terrible haircut
 

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what happens in vegas, stays in vegas

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Randor said:   Investing in LV only makes sense if OP could also convince Nevada's small government conservatives to commit public money toward building him/her a new house, word on the street is that having a terrible haircut somehow helps.
  LOL that haircut is terrible. I swear until yesterday at the press briefing for all these years I thought he was mentally challenged. I was shocked to hear how articulate he is. That awful haircut just fit with my wrong impression.

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Unless you plan on living in Las Vegas, I wouldn't bother buying property there. Just my opinion.

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It sounds like you might not be in/from Las Vegas.  So...

Why aren't you buying near where you are now?

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Have a friend move out to Vegas (Henderson) back in 2004 (before the bubble). They lived in a Midwest area suburb like we do about a 15 minute drive from us and we saw a lot of each other. People were buying up houses out Vegas way like hotcakes and he bought into a nice house although not a lot of land with it for 500K. Then the bubble hit and value dropped down to almost half of what he paid. He paid cash so he had 500 real into the house. We tossed around picking up one a few doors down from them back then for about 270 but decided the heat was not for us. We can take the heat for a week but not a summer.

We visit him a few times a year and while their house is nice, it aint no 500K house but probably was about 225 tops when it was originally built 9 years prior to his ownership. We watched similar homes on his block and development slowly climb from the slump and they are now about 390K so he is still in the hole 12 years after the bubble initially popped. Right now he seems to be waiting for it to get to where it was when they bought but they may not live long enough for that to happen as they are close to 80 years old now. Only thing he has going for living out there is that his house tax bill is 1/4 of what it was here in the Midwest but WATER and Electricity are the killer bills there (and then there is the heat to consider). The people out there dont count the years they live there, they count the SUMMERS.

While we like to VISIT Vegas, I dont think we would really ever buy there as house pricing is just too volatile and takes too long to recover even if another bubble were to burst and we were able to pick something up at a bargain price again.

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So, zero recommendations to invest in Las Vegas thus far. I predict the OP still wants to buy in.

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Bridge for sale, call 1-800-GotALiveOne.

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I can't speak for the merits of Vegas over anywhere else, but there has been a recent dramatic revaluation of properties in the core of many (party) cities based on their value as short-term rentals. New Orleans, Nashville, etc. It's anything but a passive investment though, and comes with regulatory risk.

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They have shows on HGTV about that. You can turn your 100k into 1M bucks easy peasy.

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You would be better off investing in: Appl and Siri
both good stocks
{{Apple computer and SiriusXm Radio)

 

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I've been looking at LV real estate for a few years now but most of my interest revolves around the "Downtown Project" (which has sputtered as of late). I still feel like there is opportunity here but like anything that has high return potential, it carries a high amount of risk as well. This article is a bit dated but does a good job of what Tony Hsieh, CEO of Zappos, has been attempting (and struggling) to turn LV to a tech community.

https://www.theguardian.com/cities/2014/nov/20/downtown-and-out-the-truth-about-tony-hsiehs-350m-las-vegas-project

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In 2007, I got a call from a friend saying he had an amazing real estate opportunity in Vegas. New luxury condos going up on the strip. In order to get in, we had to decide by the end of the week.
I asked some basic questions about condo fees & bylaws and he had no idea on either. I told him I'd pass. He couldn't believe I'd pass up the opportunity.

The value precipitously dropped by 2010 (~75%). Now, the price is back to about half of what it sold as new.

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Floridah...has yet to recover from the Bush economic crash.....

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BostonOne said:   In 2007, I got a call from a friend saying he had an amazing real estate opportunity in Vegas. New luxury condos going up on the strip. In order to get in, we had to decide by the end of the week.
I asked some basic questions about condo fees & bylaws and he had no idea on either. I told him I'd pass. He couldn't believe I'd pass up the opportunity.

The value precipitously dropped by 2010 (~75%). Now, the price is back to about half of what it sold as new.

Bolded the part that would have made me stop listening...  

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Shandril said:   
BostonOne said:   In 2007, I got a call from a friend saying he had an amazing real estate opportunity in Vegas. New luxury condos going up on the strip. In order to get in, we had to decide by the end of the week.
I asked some basic questions about condo fees & bylaws and he had no idea on either. I told him I'd pass. He couldn't believe I'd pass up the opportunity.

The value precipitously dropped by 2010 (~75%). Now, the price is back to about half of what it sold as new.

Bolded the part that would have made me stop listening...  

  Exactly. If that's the condition on a multi-hundred-thousand dollar deal, no way I'm going near it.

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BostonOne said:   
Shandril said:   
BostonOne said:   In 2007, I got a call from a friend saying he had an amazing real estate opportunity in Vegas. New luxury condos going up on the strip. In order to get in, we had to decide by the end of the week.
I asked some basic questions about condo fees & bylaws and he had no idea on either. I told him I'd pass. He couldn't believe I'd pass up the opportunity.

The value precipitously dropped by 2010 (~75%). Now, the price is back to about half of what it sold as new.

Bolded the part that would have made me stop listening...  

  Exactly. If that's the condition on a multi-hundred-thousand dollar deal, no way I'm going near it.

eh...in my experience, most of the highest profit RE deals i've made involved making a decision in hours, sometimes minutes. 

obviously, i'm not saying this is always the case...many people understand that good deals go quickly...sounds like this solicitor was trying to capitalize on that notion.

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solarUS said:   
BostonOne said:   
Shandril said:   
BostonOne said:   In 2007, I got a call from a friend saying he had an amazing real estate opportunity in Vegas. New luxury condos going up on the strip. In order to get in, we had to decide by the end of the week.
I asked some basic questions about condo fees & bylaws and he had no idea on either. I told him I'd pass. He couldn't believe I'd pass up the opportunity.

The value precipitously dropped by 2010 (~75%). Now, the price is back to about half of what it sold as new.

Bolded the part that would have made me stop listening...  

  Exactly. If that's the condition on a multi-hundred-thousand dollar deal, no way I'm going near it.

eh...in my experience, most of the highest profit RE deals i've made involved making a decision in hours, sometimes minutes. 

obviously, i'm not saying this is always the case...many people understand that good deals go quickly...sounds like this solicitor was trying to capitalize on that notion.

Sure. I'm assuming you were already in the market for those deals and had years of experience backing up your quick decision.
A lot different than being presented with an unsolicited deal and given such a short timeframe.

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LAwoodtiger said:   It sounds like you might not be in/from Las Vegas.  So...

Why aren't you buying near where you are now?

I live in Los Angeles, that's why. As for other comments, I just starting investing and don't really know where to put my money. I try to research and read up on investing every day but it always seems like one day I read a bunch of articles touting RE investing and then other days it's investing in a diversified portfolio. 

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Also, since I have peoples' attention know. I was wondering if anyone else here uses Wealthfront. A friend of mine recommended them, so I didn't really research the other companies. Can anyone here speak on the differences or their experience with Wealthfront vs. other brokerage companies?

Skipping 21 Messages...
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zapjb said:   
Randor said:   Investing in LV only makes sense if OP could also convince Nevada's small government conservatives to commit public money toward building him/her a new house, word on the street is that having a terrible haircut somehow helps.
  LOL that haircut is terrible. I swear until yesterday at the press briefing for all these years I thought he was mentally challenged. I was shocked to hear how articulate he is. That awful haircut just fit with my wrong impression.

  
What's worse is that it's the same Barber giving him that exact same haircut since College.

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