Las Vegas Cash Flow Properties

I mentioned in another post that I bought 1 condo in Las Vegas to rent. The condo was a 1300 sq ft 2 bedroom with 1 car private garage. I have a property management company that is taking care of it for me. Since I am down here in Vegas I wanted to see the condo before it gets rented out and see the upgrades that the management company did. Overall they did a nice job of touching it up before it is rented out. From what the management company has told me they have 2 people wanting to rent the place, I will found out shortly. As for rental rates they are pretty decent, this condo is going to get rented for either $795 (with no dog) or $825 (with 2 dogs). Considering I bought the place for $64,000, that is pretty damn good cash flow. I know friends in Vancouver who bought a new 1 bedroom in Surrey for $200,000 and are renting it for around $8-$9o0. That is horrible cash flow honestly, but better to invest in something that nothing at all. However you cannot purchase too many condos with negative cash flow, because they can’t cover themselves. Your properties always should cover themselves…

This condo is located just down the hill (literally 20 second drive ) from my own vacation om here in Las Vegas. which is kinda nice in a way. If you’re thinking of investing in Las Vegas the timing could not be better, with the Canadian dollar worth more than the US dollar (last time I checked), and such low prices combined with people looking to rent because they have lots their homes it’s a win, win, win situation, for real estate investors.

This is an opportunity that will not be around forever, and then you will kick yourself when you didn’t do it. Easier said than done, I know however you need to push yourself if you want to get ahead. Nothing comes by watching TV, go out and make your life happen.

Action = $$$$

sincerely,
Cosimo

the entrance is located on the side of the building. My rental condo is right across from the clubhouse that has a full gym as well as an outside pool