Hello, me and my partners are considering a luxury condo conversion in Vegas - Meridian condos, walking distance to strip at $550k with a 2 year leaseback (cashflow a little for the 2 years), 2/2 1000sqft. Sounds decent considering all the high rises going up and considerably more. Our concern is the risk as we’ll need to cross our fingers that the appreciation will remain strong and in 2 years we can sell this for more then the loan at $500k. The neg cash flow if we decide to keep & rent will be considerabl at $1000k or more. Thoughts on vegas? Are we too late?
Better late than never… Vegas will continue to grow for a long time. There are so many up and coming Million dollar hotel and casinos, that if that town isn’t predicted to grow, then many are going to be hurting real soon. And I doubt these entrepreneurs just pulled out there wallets one day and said LETS BUILD A !) MILLION DOLLAR HOTE?CASINO IN VEGAS, without some research.
Plus I believe I heard recently that Vegas is the fasting growing city right now…or maybe the most promising city for growth…
Which of course it is… its a town in the middle of the desert…something there brings millions every month, and many want to have there own place there.