According to a recent Review Journal article, "nearly half of Las Vegas now rents, compared with less than 40 percent a decade ago. Where one in 10 homes once was a rental, now more than a third are. Many are owned by investors that bought them out of foreclosure at deep discounts."
Ultra-low mortgage rates below 4 percent have enabled Jim Phillips, 51, to capitalize on the influx, buying condos and renting them at a profit. “With more and more younger people moving into the city, it’s creating an opportunity for me,” Phillips said. “So far, I have two condos. My goal is to buy, basically, one a year.”
The opportunities are there for people who have money — or those who are already homeowners.
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Original Post Review Journal via AP
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