Rental Property Investor. Newbie.

[Paul Rasor]

Hello all! 34 year old father of 4 in SoCal. Looking to pull out $300k in equity to purchase multiple condo/apart in an area that has best rental $ on return of investment. My parents are in the landlord business and I like their freedom and financial independence. I have been researching on Zillow and have been looking at Henderson, Las Vegas. Any and all advice is appreciated.

[Billy Runyan]

couple things to point out if I may... Yes Henderson prices shot through the the roof over the last 12 months, should have bought then as I said, couple BP's members know now. Ok, yes the prices are high now compared to 12 months ago but it's still pretty easy to find product that still 20-30% off the 2006/8 peak, that means you can still make a bundle, but hey... Didn't believe last year so why now? Every signal from the government/fed/& State say they are going to push it OVER the old top. Might be best to wait and see.... Oh, yea, there's not been a collapse in property prices during an election year since most can't remember when... Now if you want to make money in the flip market you have 3-4 maybe even 5 turnovers before it even becomes questionable. Buy and hold is a good ROI, but it's been better, still not bad for a conservative investor and in 2-3 years I've a feeling it's a big winner.

Now, for location, east of Boulder can be a bit lower class, but the last peak they skyrocketed as the only affordable so in the entire Henderson market. East of there as you head toward Lake Las Vegas sure it's nice but the double HOA's plus SID/LIDS will eat you alive!

Yea, you may want to get a good Realtor to help, then again you can continue to............ wait for it..... Wait for it.....Merry Christmas!

Best Luck!