Newbie - Las Vegas Optimism

[Nick Dunford]

Hello all, I stumbled across BP and haven't been able to stop reading everyone's and opinions regarding a new, but passionate investing subject I'd like to get started in - Real Estate. Particularly, in Las Vegas where I've been living since 2010. I got my NV license in 2011 but did nothing with it.

My question: Is anyone else optimistic about the market in the Las Vegas? Many believe we are in a mini-bubble and I'm convinced the market may remain strong or semi-strong (although appreciations will decrease in rate).

If/When shadow inventory is finally released (eventually), it may not cause a "flood" to the market which I've heard over and over again. Rather, depending on the volume released and when, supply may increase JUST enough to meet the demand, which would result in balance and steady price increases.

I prepared to enter the market by way of SFR or multifamily with owner occupied financing (VA of FHA) with as little money out of pocket as possible. I'm being advised to wait it out til inventory increases to get a deal (its not like I can compete with cash investors now though).

Thoughts? Market predictions? SFR of Fourplex? When inventory starts to increase should I be patient and wait for the "flood" to take place and buy at bottom? Thanks

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