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[Carlos L.]

Hello All, this is my first post, there is so much information on this site that I don't know where to start. I don't have much experience at investing on Real Estate. 2 years ago decided to buy a duplex in Las Vegas that was already rented, after buying it the tenants stopped paying the rent, not even the first month! Had to evict both of them. Then the property ended up being a fixer upper had to buy new AC units, new roof, kitchen, bathrooms etc. finally got it ready and rented and decided to pay off the loan by refinancing my house, not sure if it was a smart move but at the time I just wanted to get a lower interest rate. Now it is paid off, but after reading some advice here it may not be the best move since now I don't have the tax benefits of the loan. Now I want to buy another duplex or maybe a fourplex in Las Vegas but I don't know if it is the right moment to invest now since housing market seams to be better for the seller than the buyer, I haven't been able to find any good deals, I have an agent that sends me MLS listings when they become available but everything appears to be overpriced or needs a lot of work. Are we in a market bubble? Is it a good time to invest on real estate or would it be better to wait?

[Christopher Brainard]

Hi @Carlos L. and welcome to BP.

The Las Vegas market right now is very hot and it is very difficult to find a decent deal, especially with 2 to 4 unit dwellings. Most of these were built many years ago in neighborhoods which are now Class C/D areas, which tend to lead to bad tenants and many headaches.

As far as your question about the market bubble, there are many views - I personally think the market is ok, I expect it to have flat growth over the next few years to catch up with all the appreciation we've seen in the past couple years. The timing of your investment is more related to your goals and exit strategy. If you buy now, you may lose some value short term, but in the long run, you'll most likely be just fine. Additionally, the longer you wait, the more rent you don't collect. This is, of course, no reason to buy the first house you stumble across, as you still need to buy smart to survive in any market.

-Christopher