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Updated over 8 years ago on . Most recent reply

User Stats

77
Posts
27
Votes
Rito Altamirano
  • North Las Vegas, NV
27
Votes |
77
Posts

Buy and hold in las vegas

Rito Altamirano
  • North Las Vegas, NV
Posted

hello everyone , well this  is more a question for las vegas investors  so if youre from the las vegas area please chime in. 

This year im saving up to have a nice 30k to 40k downpayment for a mfu i will be purchasing that i want to house hack since i feel this would be my best stepping stone. 

However lately ive kindve been watching the news, and found out about the pig farms up north closing and leaving the area within 3 years. In the surrounding areas of the pig farm there is some really nice homes. i know alot of the time they have trouble selling due to the foul smell that spreads for miles, especially during the summers. Now with them leaving there will be alot of nice homes in the area that are sure to appreciate, but do you think it will be much? With appreciation considered, do you think it would maybe be a good idea to use that 30 to 40k for down payments. Maybe for 2 or 3 decently nice homes near the farm? Now would be the best time to purchase and i wouldnt mind dealing with the smell if it profits well in 3 to 5 years when they leave. I can live in one and rent out the others im sure i can find a deal near the farm that will cashflow at least a little while i wait for the perfect time to sell. 

Or should i stick to getting a mfu and living for free for now? Lol 

What are your opinions and thoughts of the areas around the farm now and what do you suspect will happen when the farm is gone? 

Most Popular Reply

User Stats

32
Posts
7
Votes
David Famiglietti
  • Firearms Manufacturer
  • North Las Vegas, NV
7
Votes |
32
Posts
David Famiglietti
  • Firearms Manufacturer
  • North Las Vegas, NV
Replied

I hear people talk about the "Stigma" of the North Las Vegas war zone constantly on here and I laugh.  North Las Vegas has great areas the more North West you go, and maybe its because I own rental properties up here and two businesses up here, so I could be biased, but I've seen much crappier neighborhoods in Henderson then I do in the general area of NLV that I work, live, invest in.

These "boundaries" I've created for friends I've had move here in the Military have slid gradually to the North and to the West over the 11 years I've been here, but here is my rule of thumb for NLV........

West of Losee, North of Craig.  Very simple.  For the most part you'll be in a decent neighborhood.

North of Centennial and West of Commerce, and you'll be in a very nice neighborhood 98% of the time.

The news of the pig farm is old news and has been known for 6-8 months before it became a news story.  I think the houses in that area will increase slightly more than the rest of that "zone" I put you in in the last paragaraph, BUT....That property and the other vacant lots (6 or 7 in that area) will all get flooded with new houses at rock bottom prices through forced development and will attract all your buyers and renters away from the 5-10 year old houses that are existing around the farm.

The other thing is, that $40K will get used up and then some for a 20% DP on the houses in that area as anything decent is $200K plus.

I own a few houses in Las Palmeras at Ann and Camino El Norte. Tons of great cash flow and flip deals in there still with a decent HOA that keeps the "North" out of North Town! ;-) El Dorado Highlands also has some great deals if you're not in a rush. With the expansions of the 215 and making it a much easier drive to the West side of the valley, the new 95/215 on and off ramps, and the new development across the 215 at Revere will all help keep the NW corner of NLV a hidden gem.

The "stigma" is all in name, or for people that are scared to drive up MLK until the name changes a few times!  ;-)

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