Las Vegas Real Estate 4 u. It’s more then just another real estate site, it’s about information pertinent to Las Vegas real estate with current news and information from a Las Vegas real estate agent since 2001.
In 1991, I transferred to the world renowned University of Nevada Las Vegas Hotel Management school from the University of Georgia and majored in Hotel Management with a passion for building and development. During this time and afterwards, I worked in various Las Vegas resorts and had the opportunity to meet some pretty fascinating people that gave me another look / education on the world. Hotel and Restaurant ownership is the ultimate pinnacle of real estate investing that includes understanding financing concepts, accounting, statistics, marketing, economics, providing exceptional service and of course… Location, Location, Location.
You can build the Worlds Most Beautiful Hotel… but if you put it in the wrong location it will fail and the value will never match the cost to build it. When you think about the most successful Hotel / Restaurant chains… think about their locations. There is a reason why McDonalds spends Tens of Thousands of Dollars on site selection alone.
There are several factors that will help determine the future values of your Residential Real estate investments and I know what they are.
In 1998 I started assisting a top producing Las Vegas real estate agent with marketing and miscellaneous other duties and got hooked into residential real estate. In 2001 I received my Nevada Real Estate Salesperson license and since then, I’ve represented several Las Vegas real estate investors, Luxury Summerlin Home owners and even a developer where I was the Director of Sales with multiple responsibilities.
The top producing Las Vegas REALTOR who got me started is now the educational instructor for the #1 Las Vegas Real Estate company in terms of volume of real estate sold in Las Vegas.
I am also licensed as a Real Estate Broker in Illinois even though I could not tell you too much about anything outside of Chicago and the nearby suburbs. I primarily hold this license due to my fascination of great Architecture and Land planning of some of the greatest real estate developers known. Chicago and the North Shore Suburbs is the precise place to learn all about fantastic real estate… if only if it was not so cold and those property taxes were not so high!
Enough about me though. This site is all about your needs and information to help you make informative choices on your own. My background will certainly help you in making informative Las Vegas real estate choices and my service will certainly stand out if you choose to use me for your informative source for Las Vegas real estate. Rest assured that once you become a client… you are a client long after the close of escrow and we’ll be around for you… no matter what you need. Las Vegas is all about connections and since 1992, we’ve built some pretty solid ones.
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Real Estate blogs from actual Real Estate Professionals can be fantastic information sources for a local real estate area. As you’ll notice from reading the posts, you can keep me honest by asking questions and commenting on posts even though I do reserve the right to delete anonymous comments with no basis to back up derogatory information.
I Love legitimate Las Vegas real estate questions so please ask them and I’ll answer them to the best of my abilities. As you may notice, a lot of the real estate topics I’ll be writing about here are actual questions from real live clients that we get all the time — minus their information and transaction specific details of course. I do maintain other websites more geared for clients homes and Las Vegas real estate searches for Las Vegas real estate buyers and sellers ready to move now so the primary intention for this blog is information about Las Vegas real estate.
Paul Francis, CRS
Prudential Americana Group
871 Coronado Center Dr, Suite 100
Henderson, NV 89052
702.592.3058
P.S. — If you happened to stumble across this Las Vegas real estate blog and were just looking for a comprehensive Las Vegas real estate search, you can go to my Las Vegas real estate search site. You’ll also notice that reports for specific communities in Las Vegas will have references and links to this other Las Vegas real estate site more geared for Las Vegas real estate buyers and sellers ready to make a move.
Oh, I guess this would also be a great place to add a little disclaimer:
Opinions are just that, my opinions and the information / sources I use are deemed reliable, they are not guaranteed. Unless I am specifically representing you in a real estate transaction, this information is solely being provided for reference. I can’t predict the future and am not claiming to… otherwise I would probably be beach side in Grand Cayman.
August 20, 2009 at 4:51 am
Hi Paul,
It appears that Trulia has muted me since they took away the “Answer tab” when I log in. Oh well.
I wanted to ask you a question about ROI and feel that you were the best poster out of the group to get an answer.
My question is, my total investment on all my rental properties is $650k. Current market value on these properties is 1.1 million. None of them are leveraged and the only cost I have is property taxes, insurance and association dues. I have been basing my ROI using $650k but some fellow landlords have been telling me that it should be based on the current market values which I have disagreed with.
I would love to have your feed back.
On a side note, I have been sitting on the sidelines because I feel that this shadow inventory out there is going to slam the housing industry sooner rather than later. I have enough to do an all cash offer on another foreclosure but the banks just don’t seem to respond ( Bof A).
My Patients in the past has rewarded me.
August 20, 2009 at 1:36 pm
Hello Carl from Chicago,
ROI aka Return on Investment – You are correct in using the $650K number until you cash in or sell the properties.
Your fellow landlords may be thinking in terms of ROE aka Return on Equity. This is where you would use the $1.1 Million value.
I like using the ROE calculation because it shows if your money is better off in alternative investments. It was the NUMBER 1 reason why I advised my investment clients to start selling their Las Vegas investment homes in 2005 and it proved to be a correct decision that resulted in hefty profits.
At that time.. it was far safer to take the equity that was only generating a 1 to 2% return and putting it in far safer, liquid investments such as Treasury Bills, T-Notes or T-Bonds (just an example) and getting paid twice as much for doing nothing…. with zero risk.
August 21, 2009 at 8:15 am
Hi Paul,
Thanks for the info. I figured that was what they were refering to but wanted to double check with you.
Have you read Gene’s post on Trulia about the banks becoming landlords? God help us all if that is the case.
I’m hoping to stike on another foreclosure here in Dec/Jan when no one goes out except to get food and gas..lol
I have my eye on a foreclosure that has been sitting empty since last January of 2008. They had it on the market for 200k, which was under the then current market by 22k. I offered 150k cash and they(Bank) turned their nose up to me. If it’s still there this Dec then I’m going back in with 140k offer.
We shall see….
August 23, 2009 at 8:06 pm
Hey Carl,
Yes.. I’ve heard about the landlord situation and posted the info. on Trulia which I see that you saw. Long lines indeed… and more subsidies artificially influencing the market.
Excellent time to buy in Chicago (Dec/Jan) … I surely did not want to take buyers out during this time when I lived there!
On the flip side.. sellers selling during this time needed to sell. Buyers wanting to see homes in that weather were serious buyers.
Kind of like here in July/August when it’s 110 Degrees! (And this July/August has been the busiest ever for me of all the years practicing real estate in Las Vegas.)
Have Fun!
December 24, 2009 at 9:35 am
Very inspiring post. Makes me want to get out their and explore our world. How different the world we be if people would travel more and learn to celebrate our differences instead of hiding from them.
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