Monthly Archives: September 2009

It’s Official, Las Vegas Is My 2nd Home!

Well, in my last post I mentioned I put offers on 6 different properties in Las Vegas. I am very, very happy to be able to say that the place I wanted the most is now mine (after I get it inspected). I put an offer on a 3 bedroom 1500 square foot condo/town house in a gated resort like community but there was already an accepted offer, so I was too late. Luckily for me that deal fell through for the other buyer and since my offer was second they accepted my offer and it’s mine!!

A place like this in Vancouver would EASILY cost $350,000 or probably more. I bought this place for $99,000 U.S which is a steal, considering this exact place was going for $230-245,000 just 2 years ago!! And don’t tell me about the U.S. recession, big deal. The economy will bounce back, prices on these places have gone up about $10,000 since March 2009, when prices stopped falling in Las Vegas.

The place is a 3 bedroom, carpeted with tile in the kitchen, granite counter tops through out the property. It has 2 full bathrooms (tub in 1 shower in other), in suite laundry (washer/dryer), small patio area, and a 2 car garage, which is awesome to have. People might think I’m nuts for buying so far away from Vancouver, but with such low prices it makes WAY MORE sense to buy in Las Vegas than say a place such as Kelowna. Even if I have to fly the whole family there it’s still way cheaper than buying a place in Kelowna or whatever for like $275,00 – $300,000. Besides the appreciation on a place is Vegas will rise much more than Kelowna, because it has dropped so much.

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I’m nervous and excited all in the same wind…

view of Las Vegas from entrance of the gated community.

Chateau Versailles (the name of the development)

Chateau Versailles entrance area

walkway to the pool from my place

such an amazing pool complete with hot tub spa and waterfall. Has wild palm trees all over for a tropical feel (no cactus though, weird for a desert) ..

shot of the pool

exterior of building

kitchen (missing fridge)

kitchen

bathroom (granite counter tops)

bathroom and tub

bathroom

other bathroom

bathroom

one of the bedrooms

washer and dryer

computer nook (do my affiliate marketing here…)

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These photos were taken off of a website, the place is actually completely vacant now, as it is a foreclosure property and owned by one of the banks.

So Did I Get A Place In Vegas?

1 Reply

It’s 5:38 am, and I’m wide awake since I went to bed at 9 pm last night. I figure I’m wasting too much time watching TV from 9 -11 pm so bedtime is now 9 pm. So to the thought of the day, Las Vegas….

I got back on Wednesday, and it’s unreal just like I said about the cheap prices for townhouses. Prices range from$65,000 to $100,000 U.S. You get 1200 – 1500 square feet, 3 bedrooms, community swimming pool, gym room, spa and 1-2 car garage. Most places are built between 2003-2oo6, so they basically brand f’n new! It’s seriously retarded the prices of places down there.

Did I Get One?

I put offers on 6 townhouses, 2-3 were sold as soon as I put my offers in and I am waiting on 3 of them. I’m thinking that I will probably have to go down again and put more offers. Since these townhouses are foreclosures , they are bank owned. Banks like to take their sweet ass time to make a decision (up to 60 days), to tell you yes or no that they have approved or disapproved your purchase of the property. It’s a f*cked up system but the deals are incredible, so it’s worth it. Basically you put in 10 offers with the hope of getting a few approved, then you can choose if you actually want to go through with the purchase of the place. There are deals coming up daily, but there are lots of investors like me seeking discount deals, from all over the world, even China.

So, right now I’m sitting in limbo, but I’m calling the realtor in a few hours, to see if there is any news, and also if there are any new places up for sale. I am determined to get something down there, for now I wait…

Read this blog 5 years from now and I can guarantee you a post about how I made at least $100,000 profit from each townhouse I bought this year in Las Vegas. You want easy money, here you go on a silver f*ck*ng platter. Too bad most people will do nothing about it.

I snapped some photos of stuff, not of townhouses, just touristy type stuff. Enjoy.