Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago,
Las Vegas in the next 10 years will explode!
Hi guys and a happy Saturday to you all.
I think there is a huge opportunity in Las Vegas right now especially with what is set to arise in the horizon. Here is a list of all things I have seen going on in Las Vegas.
Las Vegas will have its first major national sports team (NHL). Faraday Future is a new electric car company that is building a huge manufacturing facility, (not putting a lot of emphasis on this because it can possibly flop you know like Fisker). Another huge thing that possibly will happen is Las Vegas will get a stadium built and have their first NFL team. (again not really relying on this either because it has not happened yet but they are in talks).
There are a few new hotel projects planned on the strip and if those pan out successfully I can see a lot more development in the future. (10 years from now). WYNN announced it will build a man made lake and a new tower by 2020. Genting Resorts is most likely going to build a new resort called Resorts World.
Downtown LV also seems to have a lot of revitalization even though it has its very slum parts it seems like it is headed in the right direction.
Nevada will be voting in November to legalize marijuana usage for any one over 21 years of age and looking at Colorado and the HUGE tax/business benefits it has brought to them. If this passes it is a potential opportunity for huge growth.
One thing that is kind of scaring me is that these huge companies are building apartment buildings and track homes all over the Las Vegas valley. I don't know if this is a good thing or bad thing. I just hope they don't over build like last time and have to much inventory on hand which will end up pushing down prices. (coupled with bad loans)
Also if interest rates move up (which i think will happen when the new president comes in to office) that will also push down home prices, but in general now is a a great time to buy i think. The price to return aspect is 5-6% in A neighborhoods.
I would appreciate any feedback on any of the points i have made. (negative or positive) :)
Thank you all for taking the time to read my post and providing feedback, you guys are awesome!
Have a great day and god bless!!