Las Vegas buy and hold

[Brett Mazzerle]

Newbie here on the forum and totally frustrated with my local market (area surrounding Reading, PA). My wife and I have one rental property in West Reading that we manage and have struck out multiple times recently with the crazy hot market. We are flirting with the idea of buying a long term small unit in Las Vegas as we aspire to spend some extended time there once we retire - 15+ years from now. We are looking at entry prices being really low in neighborhoods surrounding the Strip and downtown. Low taxes are offset by the HOA fees and not great returns as rent prices are low as well. We are thinking that there is considerable room for appreciation long term though. Are we correct?

What areas and neighborhoods are best to invest now to get moderate cash flow with the ability to have nice appreciation long term? Are there areas to avoid? There are many 1 and 2 bedroom units for sale at or around $150k that have manageable HOA fees just east of the strip. Are these fools gold?
Thanks for consideration and your help!

[Darius Ogloza]

Many of the neighborhoods surrounding the strip/downtown are very depressed.  Not for the faint of heart.  The area around UNLV is especially bad, last I was there.  I would recommend that you pay a visit to LV and look around before plunking your money down.