November 22, 2010 | 
Author It seems like Vegas housing prices are nearing bottom. Many lofts are now going under auction starting at 90k or so – do you believe this presents a good opportunity for an investment in a second home?
Tags: One Response to “Do Las Vegas high rises present a good opportunity for appreciation?”
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Yes…I agree with the premise of your question…that Las Vegas High Rise apartments can make for good investments. The problem you have…I get the impression from your question that you don’t live in Las Vegas…so, you MUST be very careful in your selection.
Las Vegas had a RUSH of high rise building in the last few years. some projects were overwhelmingly bought up by investors who have either gotten foreclosed on or have been unable to rent them at all. I have friends that live in some high rises, I helped finance some of the better (expensive/high end) high rises, and some of my friends help sell units in some of the high rises to overseas ‘investors’ that pay cash for the units.
Key points:
*What type of 2d home are you looking for? (singles pad vs older crowd, wild party potential or strict security)
*Donald Trump type property (glitz on the LV Blvd) or Panorama (moderately sold, fairly well ran, but off the Blvd).
*How long would you be willing to wait for the "pay-off" from your investment and would you actually be using it regularly (versus a property that rents out your unit, if possible, when you are not using it/willing to put it into ‘inventory’)
*Etc, etc…