All Forum Posts by: Brian Walters

@Stephen DeThample not just the HOA increases, but in some instances the current HOA rates. I've looked at condos selling for around $200K where the HOA fee is $250+. In several instances I also can't tell where that money is going as I walk through the community, which is another red flag. There are times where the HOA rate is a big hurdle when looking at condos, from what I've seen so far.

Also looked at plenty of SFH with HOAs (currently live in one as well) but it feels the average HOA fee is less on a SFH than a smaller condo.

Sounds like great news but something legislature isn't all that thrilled about. More of something they felt they HAD to do more than they wanted to do. I would love to get into the STR market but hesitate that this is something that can last long term. This city thrives on the tourism industry and is going to do all it can to protect it, rightfully so.

Very much agree with everything Bill said. Prices in LV keep going up (we purchased our first house earlier this year other similar houses in our area are currently going for well more) but for a SFH in a good area of Vegas $250K isn't that much, I wish it was.

Stephen, what are your overall thoughts on condo investing?  I'm currently looking at condos as investments, mainly due to the price point, but can't afford to not cash flow at least something from the start.  Not looking to get rich off cash flow but I expect to make mistakes and want to make sure it doesn't end my investment journey.

Thank you

Welcome. When looking for SFR in this area you need to be careful as there are A LOT of restrictions in Las Vegas itself. From everything I have read it basically can't be done.

However, Henderson and North Las Vegas are areas where this can be/is done.

@Dexter Belleza, what part of town is the condo in?  I'm in Vegas and working on my first investment and have looked at a lot of condos (mainly because of the price point).  Also have spoken to other investors, most of who advise to stay away from condos for multiple reasons, not all of which I feel are issues, just my opinion.

Would love to connect and share notes/thoughts and hear more about your experience.

@John Philip Eugenio there are a few reasons including the current growth, which i feel is more based off people wanting to move here and not people buying for the sake of buying like 2008ish.

Also, the city is building inferstructure to go with the increase in housing. More houses are built, but also so is more commercial space and roads. I came from NYC where they would take down a restaurant, build an apartment complex but add nothing else.

Everything i have read and seen also points to houses here needing less exterior upkeep. Less, not none. The stucco, roof tiles and cement fencing don't require as much attention as materials in some other states.

There is also the tax benefits, which Florida also has, but Nevada doesn't have hurricanes.

@John Philip Eugenio my family and I are in Vegas and I have spent the last 18 months learning as much as possible. Looking to work with and learn from experienced investors.

Would love to connect and work together in the future. Let me know how I can help. I think Vegas is a great place to live and invest.

@Sarah Hoffer there is a lot of expansion and new construction in the eastern part of North Las Vegas. New construction all over the northern part of Las Vegas as a whole. In North Las Vegas there are both good and bad areas so definitely worth driving around and getting familiar if you're able to come before you buy.

@Jon Lopez I'm also interested in any info around meet ups. New to Vegas and investing, looking to learn and connect as much as possible.

Thank you