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Real estate investing has been the number one creator of millionaires for the last two centuries in the USA and remains consitent even today. Finacial sorces such as Forbes and even industry specific sorces such as Realtor.com have all listed Las Vegas in the top 10 buy and hold cities since 2008 thru 2017. New information reguarding tourism, job growth and inventory point towards Las Vegas as the city to be watching for 2018. You may be surprised at who is beoming millionaires in real estate. As the book “Millionaire Next Door” points out, its everyday people like school teachers and fire fighters taking advantage of basic wealth creation. Based on historical records, Las Vegas may still be 30% undervalued for price. According to Numbeo.com, Las Vegas is currently has the best cost-to-living ratio of all major cites.
William Margita, a local Las Vegas luxury homes real estate agent and industry leader, say “The reason the TV industry and experts choose Las Vegas for their TV shows and hold their live seminars is because Las Vegas is a consistent winner they can count on to make money.” Margita has been in the indistry since 1995 and is a 3rd generation real estate, making him one of the most knowledgable agents not only in Las Vegas but internationally. He adds “Las Vegas is a glabal village drawing world-wide buyers and investor from around the globe”. Currently 2 out of evey 10 escrows that close are from out-of-state or foreign buyers or investors looking to participate. The economy of the once-downtrodden Sin City is expected to grow about 8.7% in 2018—compared with 6.4% for the rest of the top 100 markets, with cost-to-rent reture to be at a possible 15.3%.
Ashley McCormck who specializes in Las Vegas high rises condos for sale and lock-and-leave properties advises buyers to look at the profit and loss statments for last 2 years. McCormick says “Most buyers really on their own ideas or numbers and make huge mistakes when it comes to deciding between buying for cash flow or equity when the numbers may be availabel for the asking.”. She sites the diverity in Las Vegas for the main reason people can make money in multiple investment streams. Las Vegas has some of the most successful Condo Hotel units such as TRUMP or MGM. McCormick points out the Las Vegas has opportunies people are not familiar with as they are coming into a robust city with condos, condo hotels, high rises, penthouses and mansions.
Both Margita and McCormick point out that some some of the best options are to buy “The smallest propery, next to the most expensive mansions”. Margita mentions that in the same community at Spanish Trails homes for sale in Las vegas you have muti-million dollar homes and right down the street a lock-and-leave townhouse rental can be picked up for $250,000. He mentions that people may miss out on this as that community is guard gated and from the outside and looks like all muti-million dollar mansions. He adds that some of the best buys that get overlooked are golf course frontage condos or townhouses around areas such as TPC SUMMERLIN. McCormick says the same can be true for the Las Vegas strip condos where people see a magnifisant building and penthouses on top not realizing there may be a $200,000 studio in the same tower.
Online source BusinessInsider.com mentions that Las Vegas is not only in their top 10, but leads for job growth and an increase of 10%+ in home values. Tourism in Las Vegas is expected to exceed a record 43 million visitors and a record breaking 22,000+ conventions. In 2017 Las Vegas broke its population record and the valley is heading to over 2.3 million residents. With over $10 billion in development projects to include the new NLF Raiders stadium and a new RESORTS WORLD casino, there are over jobs opportunties all the way to 2020. A recent article in the Review Journals mentions Las Vegas may be 10,000 plus contructions workers short to complete projects. While many cities in the USA still make an intelligent choice for real estate investors, Las Vegas is the clear leader going into 2018.
About LasVegasRealEstate.org
LasVegasRealEstate.org is a top rated source for Las Vegas real estate news and market updates to include all MLS homes for sale in Las Vegas, NV and surrounding cities and communities to include Henderson, NV & Summerlin. William Margita of Urban Nest Realty is has over 22 years experience as an agent, speaker, writer and real estate coach. He can be reached for questions, concerns or bookings at 702-882-8240 https://www.lasvegasrealestate.org/
