Welcome to the premier resource for Las Vegas investors looking to generate wealth through real estate. Whether you already own a property and need management help or you need assistance to get started, you have found the right place.
A recent Telegraph article (UK news source), featured 6 new hotels that are coming to Las Vegas in 2016. One of them being W Las Vegas.
"The W Las Vegas is opening its first Las Vegas property — on the site that SLS Lux Tower hotel used to occupy. It will feature a W Living Room, a spa, an outdoor swimming pool and bar area called WET, a gym, and meeting space. This is W’s second attempt to bring the project into fruition; in 2007, it had to abandon plans to develop the site after failing to find a partner. Things are back on track, and the hotel is now slated to open at the end of 2016."
The W is one of many projects that were abandoned, but it shows great optimism for 2016 to see projects like these be completed. We look forward to seeing what the rest of 2016 will bring to Las Vegas.
Check out the article to see the rest of the hotels that will be opening or receiving big renovations. -Lucky Dragon Hotel & Casino -Julius Tower at Caesars Palace -Topgolf at MGM Grand Hotel & Casino -Intrigue at Wynn Las Vegas -JEWEL at ARIA Resort & Casino
Here are some example properties separated by category. Under expense, I'm including PITI, HOA (homeowner's association fee), and management fee. If you are interested in a property, I will of course break things out in much more detail. For this preliminary email, I wanted to give you a range on the numbers you can expect for different property types. All of these homes are usually negotiable on price, as well (which would lower your monthly mortgage expenses.) Also when you are considering a specific property, I always go to preview for you, get photos, video, and a full report on my visual walkthrough of the property. That includes if it needs any cosmetic work (like paint or carpet) and the projected costs based off our past experience. Should a property need any work, we also handle all of that for you as well after closing. It's really designed to be a "full service" operation to minimize the amount of time you have to spend to a bare minimum.
I am basing these off 4.75% interest rate, 30 year fixed rate mortgages, "average" insurance rates, and specific property tax and HOA information for each property. So these are educated estimations, and certainly not firm numbers (which will vary by the deal structure and particular investor).
8972 Shale Valley: (Located in the Henderson area)
List price $327,500. Estimated total monthly expense $1696/mo. Estimated rental income: $1950/mo. Cash flow $254/mo
2294sf, 4 bedrooms, 3 baths, pool/spa.
737 Baldurn: (Located in Silverado Ranch area, which is where I live).
Listed $265,000. Estimated $1366/mo total expenses. Estimated rental income $1600/mo. Cash flow $233/mo
1963sf, 3 bedroom, 2.5 bath.
2525 Pastis (Located in Anthem, popular area in Henderson.)
10492 Kepler Cascades (located in Southern Highlands, centrally located and South of the LV Strip)
List price $244,500. Estimated total expense $1266/mo. Estimated rental income $1500/mo. Cash flow $234/mo
1996sf, 3 bedrooms + loft, 2.5 bathrooms
8132 Spruce Meadows (northwest Las Vegas)
List price $219,000. Estimated total expense $1100/mo. Estimated rent $1300/mo. Cash flow $200/mo
1712sf, 3 bedrooms, 2 baths
4337 Desert Haven (North Las Vegas)
List price $219,000. Estimated total expense $1211/mo. Estimated rent $1400/mo. Cash flow $189/mo 1714sf, 3 bedrooms, 2 baths, gated community
Some information on how I search for investment properties: Don'ts that I try to avoid for my clients. Not necessarily just to maximize rentability but also I am always thinking about "resale" for my investors and I factor in things that I know would hurt you on the back-end when you sell, even though that may be years down the road: 1. Homes that have non-functional or lots too small (typically less than 3,000sf for a single family detached home) 2. Homes that need significant amounts of upgrades (unless priced accordingly and client is interested in renovations) 3. Homes with low ceilings (lower than 8 ft) 4. Homes that back up to power lines 5. Homes that back up to major streets 6. Homes that have dated kitchens 7. Homes with small bedrooms and/or small master bathroom 8. Homes with poorly done or clearly unpermitted additions/changes 9. Homes with no privacy in the backyard or neighbors directly overlooking the backyard Do's: 1. Depending on price point, want to find a home that has upgrades and/or something particularly attractive that would provide that "extra" interest on the rental market. We can rent anything but the nicer the home, the stronger the quality of tenants that will apply and the better the rent rates in the long run. 2. Open concept floor-plans 3. Tile and hardwood floors are always better than carpet for a rental. (Carpet doesn't last a fraction as long as tile so if we can get the right flooring from day one, it will save you money over the long run) 4. Landscaped backyards or yards that present well 5. GOOD Condition Pools are a big plus, particularly on higher-end homes.
Kyle Cunningham REALTOR | PROPERTY MANAGER Owner & Director of Investor Relations The Cunningham Group RE/MAX Advantage (702) 895-7777 Office (702) 823-0840 Desk (877) 579-1747 Fax
UNLV School of Medicine was officially established August 2014 and has made great progress towards their goal of becoming accredited and the first class of 60 students starting in the fall of 2017. One of the biggest accomplishments for the school in 2015 was their fundraising efforts where they raised $13.5 million in less than 60 days to provide the charter class of 60 students four-year scholarships, plus 25 additional scholarships for the following three years. UNLV’s timeline projects that they will be fully accredited by 2021 when the charter class graduates from the School of Medicine.
According to a recent UNLV progress update on their website, the economic benefit for southern Nevada should start to be seen by 2030 when the school and program are fully built out. They estimate 8,000 jobs will created, the health services sector will expand, an increase in medical innovations will stimulate the state economy, $60 million in annual government revenue for Nevada will be generated, and an annual economic impact of more than $1.2 billion will be generated.
For real estate, this means there will be an increase in locals doctors, resulting in an increase in the income base and in return a higher demand for higher value properties.
"The FFZero1 concept is a sleek single-seat all-electric sports car that could, according to Faraday, produce as much as 1,000 horsepower. The car itself offers little clue as to what Faraday's first production car will look like. That car, which should go on sale in two years, is expected to be more conservative and practical than the exotic looking FFZero1." Faraday Future was founded a short 18 months ago, but has grown exponentially and plans to break ground on their 3 million square foot facility in North Las Vegas in the next couple of weeks. As the world waits and watches this mysterious company, members of the Las Vegas community are even more anxious to see what the future holds for the Faraday Future and the impact it could and will have on North Las Vegas. We look forward to following the company in the coming years and are excited to see what is in store for Las Vegas in 2016. Stay tuned! For more information:http://www.faradayfuture.com/