Investment Properties and Return
Buying investment real estate can be a great way to build wealth within your financial portfolio. What makes it fun for us is that everyone wants a different type of return on their investment. Some investors want high monthly cash flow, others want high appreciation and others want a tenant who never moves. Other investors want businesses or houses to flip. We’ve found that no two investors are alike, so think about what you want your money to do.
The next thing to consider is what type of property you’d like to invest in. There is vacant land, residential rental homes, Hotel-Condominiums, AirBnB, and commercial buildings. Each has pros and cons.
Next, you need to decide if you are going to hire a property management company to handle the details or if you’re going to do it yourself. Things you should know about Las Vegas property management companies are that THEY WILL:
- The fees are approx. 8-10% of the rent each month or a flat fee – Negotiate it!
- Possibly discount their monthly fees when managing multiple investment properties for you
- Charge you for finding a renter, negotiating leases- new and renewals, making repairs and going to the property
- Collect monthly rents and make automatic deposits for you
- Provide monthly accounting and an annual tax accounting
- Automatically serve 5-day notices and handle evictions
- Attend showings, create lease agreements and do a move-in and move-out walk-through
- Handle renter problems and any necessary repairs
- You decide about larger issues or repairs
- Let you choose the quality of repairs, maintenance, and replacement appliances
High-Rise Condos On The Strip
Another option that is becoming very popular with investors is High-Rise Condominiums. With stunning Strip views, lights of the city views and lovely red-rocked mountain views, hi-rise is very appealing. Businesses and both domestic and foreign investors want in on luxury travel and vacation write-offs.
Some towers have an on-site management company that will rent out units when the owner is not in residence.
Hi-Rise Condominiums are prevalent on the Strip but Downtown Las Vegas, Summerlin, Henderson, and Lake Las Vegas also have their version of Hi-Rise Condominiums too. Prices range from the high $200,000’s on South Las Vegas Blvd. and into the millions for the heart of The Strip.
The Investor Protector- Kurt Grosse
Our Real Estate Team has a unique Buyer’s Agent. Kurt is a retired Nevada Building Engineer who has been in Las Vegas Real Estate with his wife, Terri, for 25 years. When a client of ours finds a property they like, even if he wasn’t the person showing the property, he takes a look at it that day for visual flaws before an offer is written.
Our team is a unique asset to have to represent you. We do everything we can to protect you. Builders build homes quickly. Mistakes are made. Our city can have expansive soil, so a “good deal” may not be a good deal. After 25 years of selling homes, reading the newspaper and watching zoning meetings, we are also a great knowledge asset for you to have on your team.
2019 Nevada Legislature Changes
2019 Nevada Legislature blew it so we won’t things corrected until 2021- the Realtor Boards didn’t expect this and are lobbying for change already. The first thing in NRS 118 that they changed was to reduce the maximum late charge a landlord can charge to 5%. Another thing is that the tenant’s belongings can be released to them without payment. The 3rd thing was instead of 5 days before filing an eviction notice it’s now 7 business days. Even with those changes, the good news is that in a perfect world, without a tenant appearing in court, they can legally be gone in 3 weeks.
Discover the Difference
Anyone can “show property” or “fill in the blanks” on a contract. We don’t do either
of those things. When we take a client to a property, while they are looking to see if it fits their needs, we are looking for flaws and red flags. Then we tell you and let you make the decision that works best for you. Our goal is to do everything we know how to do to protect you and your investment.
Other Factors That Set Us Apart
- We listen and work to find the perfect property for you
- 25 Years of Knowledge of Builders and Subdivisions
- Knowledge of the city and growth
- We provide our new construction clients with a free home inspection
- Our clients receive weekly construction monitoring by Kurt as their New Construction Home is being built
- Contracts are precise and in our clients‘ best interest.
- You are educated and informed to make the best decisions possible
- WE PROTECT YOU – This is what selling real estate is about for us
New Construction Expertise
If you choose to buy a new-construction property, Kurt monitors the construction as your house is being built. We send you pictures every week so you can see the progress and also so you know what’s inside the walls if a need ever occurs. Kurt does the framing and delivery walk-through with you or for you. For your protection, we hire the best inspector in town to inspect your brand new home as a gift. Homes are built very quickly in Las Vegas and they are not built perfectly. We make sure what you can’t see is inspected for you.
Again, anyone can show property; however, we walk through a property seeing if there are signs of trouble. We are looking for water damage, mold, cracks in the walls and ceilings, windows with broken seals, hidden stains on flooring, dry-wall issues and things that just aren’t right. Illegal room additions are a possible problem, foundation deterioration due to poor drainage or a second story floors that flexes. We investigate why an odd pipe is sticking out of the wall while you are deciding if the property suits your needs. Since we are not builders, we note things for professionals to check them out if you are considering a property.
See our Blog on 4 Reasons To Avoid A FSBO if you’re considering buying a house without a local Realtor.
The Team Approach
Because we have a team, we try to always have a team member available to answer your call or to show a property. The agents we work with are also skilled and knowledgable people who will benefit you and your needs. Since we know Las Vegas real estate, we believe you need expert inspectors for every property. Kurt or Terri is a perfect first layer of protection in the chain. Put us and our knowledgable on your team today.
If you have any questions or if you are considering purchasing any investment properties in Southern Nevada, give our office a call at 702-750-7599 to talk to us directly. You can always send an email or fill out the form on our sidebar to schedule a consultation. We will never SPAM you,
Protecting You and Your Las Vegas Investment
Kurt and Terri Grosse ~ Realty One Group ~ Las Vegas, Nevada ~ 702- 702-750-7599 Direct Office