LAS VEGAS, AM I TOO LATE TO BUY?

[Mansoor Fazel]

Hey everyone,

So I would love to get some input from you regarding the market in the greater Las Vegas\Henderson area. I recently read in an article that they are experience great appreciation ( something like 9% year over year, and 30% in the past 3 years ) and know from friends that the housing market there is super cheap when compared to my hometown market, San Francisco Bay Area.

So I took a trip out there, and toured a half dozen properties, and have since been in touch with a realtor there who has sent me even more listings. The problem I am having is the properties are going up in value, but rents to seem to be keeping pace. Everything I have seen seems like I would be lucky to get a $100 cashflow per month, even without a property manager and minimal expenses. I have looked at Condos, SFRS, Condotels... nothing that great.

As a general rule of thumb I like to make around $400 or more in cash flow, this is so that I can split the investment with a partner and still make $200 a month on my investment. I have been able to keep this pattern for properties I have bought in California, Texas, and Missouri. But I cant seem to find those kinds of deals in LV. Is it even possible? am I shopping at the peak and therefore the wrong time?

What are your experiences ? Have any of you bough RECENTLY and are still getting a good cashflow?