Anyone thinking of investing in Las Vegas? A quick check indicates that the prices are still pretty low, about 50% below the all time high in 2007. Too risky as it depends on tourisms? Downtown is not good. How about Summerlin and Henderson?
I had many friends who bought LV homes pre-2008, burnt their fingers. LV was one of worst affected by 2008 downturn and their property value has not come back to normal level. In fact, some of them cleverly purchased during 2011-12 period enjoying the gain.
If you expect real estate is going to boom, there is a point of going to Las Vegas.
If you hate California, for high tax or other reasons, you can go to LV.
Otherwise, Sacramento is almost equal to LV prices.
Las Vegas is much less expensive then Sacramento. Will it become a speculator’s favorite again? If so, can easily double.
LV and SAC prices are similar. LV has plenty of homes. Availability is more than demand that may not fly. However, if someone knows good location in LV, that is better as Big Cities always better for demand & Appreciation.
Buy casino stocks. LVS pays 5.2% dividend and has growth exposure in Macau. Macau has finally bottomed and is improving again.
What indicator tells that Macau has bottomed out? Is it for Maucau casinos or Maucau economy?
Vegas is all about the tenants. .Flakyiest tenants anywhere…Makes my Tahoe tenants look good… Cheap tenants and cheap rents…Put in a healthy vacancy factor in your cap calcs…
I invested in a development project in Phoenix. .Go for development in Vegas. .make money on the project and sell…Or buy a condo and rent it out on vrbo, airbnb.and you can still use it yoyrself…But long term tenants are a nightmare in Vegas…casino/hotel workers are min wage…can only afford $500/room…plus many are gamblers and will flake out on rent…
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Comparable gaming revenue vs prior year is finally positive. They had year-year declines for a few years in a row.
They earn most of their money from tips, not base wage.
http://www.deptofnumbers.com/income/nevada/las-vegas/
I rent to low wage people in Tahoe…About $24k average…Vegas and Sac about $26k/person…not much better…Only people with direct contact with customers get tips…
Rents are low in Vegas
In Tahoe rents are higher and people make less…Occupancy is 100%…no vacancies
https://www.rentjungle.com/average-rent-in-south-lake-tahoe-ca-rent-trends/
Personally I would rather invest in Vegas than Sac (no state income tax in Nevada is a bonus). My dad knows a few people who plan to retire in Vegas.
Reno is better than Vegas, higher wages, higher rents and a shortage of supply
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I love Sin City. My buddy bought a 4-5 bedroom home in the last downturn for about 300k. Good deal. Kept as a man cave… Wow!
Vegas has a 6.5% vacancy rate…Reno 1.5% Tahoe near 0%
Tahoe > Reno > Sacromento > Las Vegas 
Tahoe, Reno and Las Vegas depends on tourism right?
What does Sacramento depends on?
State gov workers
Government is a never ending source of cash…I look at Reno as an exburb of Sac…It is a warehouse center…All east west transportation goes through Reno…Drive 80 from Reno and Sac…full of interstate trucks…They even import hay into Cali from Nev…Reno is also where Ca companies go for less regulations, cheap rent and cheap labor…Experiencing high growth in employment. …
@Elt1 For Tahoe, what sort of tenant you normally have? Just wondering how unique demographic would be for management compare to Reno or Sac?
My tenants work in hotels, restaurants, casinos, Heavenly, Barton hospital, Liberty Electric, construction…One wealthly one runs a tech company in SF…Another runs a school and her husband represents the National Bike Association. Another is a professional gambler… .Wages are min $12/h and up…The least stable are seasonal Heavenly snowboarders. …I try to avoid them. .People are moving to Tahoe in droves…many are rejecting convention. .They work only to support an outdoor lifestyle. .Most have no interest in big cities, a career or 9-5 office job.
It is an exciting place to live with a huge growth potential. .Lots of redevelopment and plans for change…
Mountain biking, hiking and Stand Up paddle boards along with skiing make Tahoe a unique year round resort…
South Lake Tahoe is actually primarily a beach community. .much more popular in summer than winter with 6 miles of continuous sandy beach with water warmer than Socal in the summer…
