Many investors are flocking to Las Vegas to take advantage of the drop in home prices throughout the Las Vegas Valley. Many of these investors are purchasing properties with cash in hopes of a quick closing thus allowing them to place it on the market for rent. After purchasing an investment property, these investors are searching out Property Managers to manage their investment. The only problem is some investors are purchasing properties in communities that don’t allow rental properties or their is currently a long waiting list. It is imperative your real estate agent does their due diligence to ensure the property you have chosen to purchase as an investment can be used as a rental property.
Most Las Vegas Real Estate Agents are only concerned with helping an investor find a property at a great price. This is only part of the equation. The agent should be looking for properties in areas that rent quickly and for higher rental prices. They also should be contacting the HOA (Homeowner’s Association) to determine if the property can be used as a rental, is their a maximum amount of properties that can be used as a rental in the community or is there currently a waiting list. Before you place an offer on a property as a real estate investor you should know the answer to these questions.
If you are a real estate investor and are interested in purchasing an investment property in the Las Vegas Valley, make sure the real estate agent you use understands what makes a great investment property. Another solution would be to contact our Property Management Division with North American Realty of Nevada and one of our Real Estate Sales Agents can assist you in the purchase of an investment property. Once you purchase an investment property with one of our sales agents, it’s a smoth transition over to our property management division.
Feel free to give us a call any time to discuss purchasing an investment property in Las Vegas or to go over our property management services. We can be reached at 702.376.7379 or complete our general inquiry form.