I have been reading this forum and any other information I can find about investing in the current US market.
My plan is to invest in a house in Las Vegas in 6 Months time, I plan to fly over and take a poke around before I invest.
I have read about all the Australian based agents/buyers however I have decided that for the mean time that I am going to go at it myself as hard as that might be.
I just had a few questions for people on here who may have information or who could help with some information on Las Vegas and the Us housing market.
Firstly I was just wondering if any one on here has property in LV and if so how is it working out for you?
Where are the best areas too look at buying in Las Vegas?
What are somethings to look at when buying in Vegas and buying short sale and forclosed properties?
Some people are predicting a massive fall of the US housing market in 2010,2011,2012 I am trying to read in-between the lines and make a calculated idea of where things are heading.
What are your thoughts and where market is going Las Vegas and the rest of the US?
Are their any first time investors on here who have jumped in at it alone and how did things work out?
Thanks JaydjjkParticipant@djjkJoin Date: 2010Post Count: 87
Vegas has experienced one of the biggest falls during the gfc. Jury is out as to whether it has further to fall or not. Just worth understanding the reasons for the drop. One of the main ones is a massive oversupply of property there. Too many developers building and people assuming prices will rise because it’s Vegas.
By all means look into it but just fully research the vacancy rates. There’s no point doing analysis of rental yields against property prices if the income you are estimating is unlikely due to a shortage of tentants.
There is a few threads on this section of the site which discuss peoples experiences going it on their own as opposed to forking out thousands in agents fees.Nigel KibelParticipant@nigel-kibelJoin Date: 2005Post Count: 1,425
Thanks you all for your help and comments. Dose any one know any good areas to look at in Las Vegas?PQMember@pqJoin Date: 2009Post Count: 18
Hi Rps13, I use http://www.neighborhoodscout.com as an initial source of info about good/bad neighborhoods. It provides crime rates, school ratings, and appreciation rates for each neighborhood. Next, go to http://www.city-data.com for the opinions of the people that live there. Also, you should check this site out http://www.buyingpropertyinusa.net/ which is a blog from a guy in Europe who bought in Las Vegas – it is very informative and provides a few warnings too. Finally, set up an alert in realtor.com to email you the types of properties you're looking for so you can get a sense of pricing in various neighborhoods.
I dont think prices are going to fall again. The alerts I get from realtor.com show prices are stable and/or creeping very slowly up.
Good luck & enjoy!Sure FireMember@sure-fireJoin Date: 2003Post Count: 5
We are a small group of Australians who have been buying investing in property over the last couple of years. We have been informally servicing a small group of investors buying properties in USA. Recently, we decided that there is huge opportunity here for Australian to invest so we decided to formalise the service and we are in the process of setting up a company to assist fellow Australians.
We travel back and forth between Australia and USA. Our home is in Australia. We are currently in USA in Las Vegas for the last 2.5 months doing property deals. I can tell you that the property market is moving here for good properties and the prices being offered are over and above the asking price and they don't last on the market very long. We have missed out on a number of porperties where we offer 10-20K above the asking price offering cash contract to miss out on the property. Of course, there are the properties that sit there for ages so please beware of those as they have not sold for a reason.
Another point to be aware of is that the properties look great on the net only to find that there are issues with the property when we visit them. For example: missing kitchen cabinets, appliances, cupboard doors, broken or missing windows, missing window covering and light fittings, pools that are green on viewing but it was blue on the internet, spas that were full that are now dry and desolate, plants that were healthy in the photos are dead when we did the inspections. So, what looked like a great buy requires additional injection of capital to bring it up to rental standard.
KimaliozParticipant@aliozJoin Date: 2010Post Count: 2
hi sure fire,
sounds interesting, can you tell me what your company name is and do you have a website?
Thanks for that info PQ it is a big help.
Sure fire where are you located in Australia and is there oppertunitys for face to face.
Also more information on your company would be good.
Is it still possible to get good deals in LV?
Thankstyler_durden76auMember@tyler_durden76auJoin Date: 2003Post Count: 6
hows your research going? lots of great info in the forums on this site. I am also going to give it a go myself and will head over there for a look in sept.
is there anyway to chat on this site? it would be good to chat to someone with the same goals.
RossSure FireMember@sure-fireJoin Date: 2003Post Count: 5
I am here in Las Vegas at the moment and will be returning home to Australia on 18th August. We have been here since June. So, if you have any questions, fire away. I have already given some information on the market and property conditions in my previous post above.
My contact details are on the website as I have severa options. Our website is:
Look forward to hering from you all.
KimpaulinetribbianiParticipant@paulinetribbianiJoin Date: 2020Post Count: 0
I have read a blog that illustrates the dramatic effect interest rates have on your monthly housing expense. With these historic low rates, it’s hard to imagine interest rates getting much lower. That is why I think now is the right time to buy a house.
These interest rates won’t be here forever so for those who are able, you have a historic opportunity. My conclusion mathematically is that if you are going to live in your house for years, now is the time to buy.
Check with me for the latest news about Nevada down-payment assistance programs and financing options. Search from hundreds of pre-set parameters for Las Vegas Homes For Sale on our website or do an advanced search to find exactly what you are looking for. If you have any questions or would like to know your home’s value, contact us below.
paulinetribbiani | Las Vegas Real Estate
Phone MeHomeBuyerLouisianaParticipant@homebuyerlouisianaJoin Date: 2020Post Count: 17
Personally I think the best buying time is soon but not now. I am from Sydney but live and invest in New Orleans. The markets are really hot over here mainly because supply of houses was hurt by Covid (and yes interest rates help). Supply will come back and even out and there are a lot of grey clouds on the horizon. There are a lot of people on forebearance which will end soon and the number of business that have closed and people that have lost jobs are high. I am still buying houses now because I am local and get in and out fast but this is not the time I would be jumping into a new international market. When a downturn hits which should happen at some point in the near future maybe that would be the time to make a jump. That’s my 2 cents for what its worth
HomeBuyerLouisiana | Home Buyer Louisiana
Aussie entrepreneur investing in New Orleans houses