Experience with Short Term Home Rentals in vegas

[Victor Gesmundo]

I have a house that I purchased to Rehab and Flip. The 1298 sq ft house situated on large lot. Had a patio that ran the length of the lot. At the time I could of renovated the inside of the house for $25,000 however I was told that I could convert the patio and make a larger profit ( not ) . Long story short I invested considerably more and got so deep into the project that I am under water on this one.

I just had an appraisal done that came in at $270,000. I purchased the ugly little house for $121,000.

After it all said and done I have $350,000 in the property. In order to avoid a loss and the quickest was to recoup the monies invested is to rent it. I can rent it the way it sits for $2,100 a month. Did a refinance $200,000 so I can get a part of the $$ invested out of it.

Does anyone have experience in the Vegas Market and short term vacation house rentals? What can you expect in monthly gross revenues from a totally renovated 2000 sq foot home.