Las Vegas

**Jtaylor304** · 08-03-2010, 02:45 PM

Why are condos not being bought up in Vegas? What is the problem with buying them and renting them out here?

**lvagent** · 08-20-2010, 06:52 PM

Condos are being sold, but there is virtually no financing available. If there are problems that can be had many of them do.
Some condo communities have no problems, but some are under investigation of fraud, some have construction defects, some don't even own the land they are built on.
All this mess has resulted in multiple lawsuites and if the insurance the HOA has doesn't cover the payouts, they are passed to the homeowners. I would probably dare to say that maybe 60% of the condos are involved in some for of litigation.
Remember it's not all of them, and in some cases you can just buy a house for a bit more and not have to worry about those things.

**TeamAguilar** · 09-08-2010, 08:45 AM

Originally Posted by Jtaylor304

Why are condos not being bought up in Vegas? What is the problem with buying them and renting them out here?

I never knew that,is it banner there or what?
The only thing about buying and renting it out is the maintanence depends upon whether you are buying a new one or a scond hand.

**aliikane** · 09-10-2010, 02:39 AM

it is all about supply and demand. there is so much inventory there that people are hesitant to buy with the thought of losing money. last time i looked there was approximately 20,000 listings for sale. there is not much of industry besides the casinos to provide jobs so it must be very difficult to rent out.

i would be careful there unless you want to buy and can afford to keep it for long time.