Buying a first home: Las Vegas

[ArturiusX]

No ones even addressed the time frame in which he's holding the house for, which is a critical aspect.

If you're planning to keep it for 20+ years, buy now. If its less than 4, I'd probably wait. Simple.

[BuddyQ]

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No ones even addressed the time frame in which he's holding the house for, which is a critical aspect.

If you're planning to keep it for 20+ years, buy now. If its less than 4, I'd probably wait. Simple.

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Yes.

[johnnylovescandy]

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I've been doing very well in poker recently and have decided to pursue a wise professional gambler ivesting strategy: spend your money before you lose it. I’m decided purchase a single family home/condo/townhouse in Las Vegas and am looking to spend 300-400k. I choose Las Vegas simply because I am a professional gambler.

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I'm confused. Are you looking to blow your wad or are you looking continue to be a pro gambler? I haven't been to MI in years, but the games in Vegas can be tough. If you want the softest games, try Phoenix or Los Angeles.

Despite what people say about the Vegas real estate market, homes here are not cheap. Odds are you won't even survive Las Vegas as a gambler. If you want to "try" Las Vegas out for awhile, you might consider purchasing on a lease option with virtually no money down and no immediate bank qualifying. This can be done through homeowners or Realtors and will give you 12-24 months see how you like living in Las Vegas before committing your precious, limited resource to an expensive house you might soon regret.

Las Vegas is full of failed gamblers and "investors" who cannot sell their over-priced homes fast enough. Don't let this happen to you. Meanwhile, I'd use that cash to purchase cheap rental properties in MI as long term hold strategy. Hire a local property management company to care for your rentals while you're gone, so they're generating income if (or when) you go belly-up in Vegas...

[Thremp]

johnny,

Ummm... good2cu is a shipithollaballa. He's of unlimited resources. If he doesn't like this place, he'll buy a new one.

[johnnylovescandy]

LOL, is there a website for busto 28-35 year-old ex-shipithollaballas???

[spex x]

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I've been doing very well in poker recently and have decided to pursue a wise professional gambler ivesting strategy: spend your money before you lose it. I’m decided purchase a single family home/condo/townhouse in Las Vegas and am looking to spend 300-400k. I choose Las Vegas simply because I am a professional gambler.

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I'm confused. Are you looking to blow your wad or are you looking continue to be a pro gambler? I haven't been to MI in years, but the games in Vegas can be tough. If you want the softest games, try Phoenix or Los Angeles.

Despite what people say about the Vegas real estate market, homes here are not cheap. Odds are you won't even survive Las Vegas as a gambler. If you want to "try" Las Vegas out for awhile, you might consider purchasing on a lease option with virtually no money down and no immediate bank qualifying. This can be done through homeowners or Realtors and will give you 12-24 months see how you like living in Las Vegas before committing your precious, limited resource to an expensive house you might soon regret.

Las Vegas is full of failed gamblers and "investors" who cannot sell their over-priced homes fast enough. Don't let this happen to you. Meanwhile, I'd use that cash to purchase cheap rental properties in MI as long term hold strategy. Hire a local property management company to care for your rentals while you're gone, so they're generating income if (or when) you go belly-up in Vegas...

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By far the best advice in this entire thread.

[good2cu]

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I've been doing very well in poker recently and have decided to pursue a wise professional gambler ivesting strategy: spend your money before you lose it. I’m decided purchase a single family home/condo/townhouse in Las Vegas and am looking to spend 300-400k. I choose Las Vegas simply because I am a professional gambler.

[/ QUOTE ]

I'm confused. Are you looking to blow your wad or are you looking continue to be a pro gambler? I haven't been to MI in years, but the games in Vegas can be tough. If you want the softest games, try Phoenix or Los Angeles.

Despite what people say about the Vegas real estate market, homes here are not cheap. Odds are you won't even survive Las Vegas as a gambler. If you want to "try" Las Vegas out for awhile, you might consider purchasing on a lease option with virtually no money down and no immediate bank qualifying. This can be done through homeowners or Realtors and will give you 12-24 months see how you like living in Las Vegas before committing your precious, limited resource to an expensive house you might soon regret.

Las Vegas is full of failed gamblers and "investors" who cannot sell their over-priced homes fast enough. Don't let this happen to you. Meanwhile, I'd use that cash to purchase cheap rental properties in MI as long term hold strategy. Hire a local property management company to care for your rentals while you're gone, so they're generating income if (or when) you go belly-up in Vegas...

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Johnny,
This theard is for advice is for investing/home buying advice not gambling advice. I'm one of the biggest (top 500?) winners in online poker. 2/4NL online is harder than 50/100NL in Vegas (I know I’ve played and beaten both). This a worthless and emotional post but I hate it when people talk to me with a condescending attitude. Your post reeks of a negative emotional attudie towards myself and my peers and lacks logic or intellcult. If my down-payment on my house is 3 months post-tax revenue I don’t think I’m going to be in finical peril.

[PRE]

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I've been doing very well in poker recently and have decided to pursue a wise professional gambler ivesting strategy: spend your money before you lose it. I’m decided purchase a single family home/condo/townhouse in Las Vegas and am looking to spend 300-400k. I choose Las Vegas simply because I am a professional gambler.

[/ QUOTE ]

I'm confused. Are you looking to blow your wad or are you looking continue to be a pro gambler? I haven't been to MI in years, but the games in Vegas can be tough. If you want the softest games, try Phoenix or Los Angeles.

Despite what people say about the Vegas real estate market, homes here are not cheap. Odds are you won't even survive Las Vegas as a gambler. If you want to "try" Las Vegas out for awhile, you might consider purchasing on a lease option with virtually no money down and no immediate bank qualifying. This can be done through homeowners or Realtors and will give you 12-24 months see how you like living in Las Vegas before committing your precious, limited resource to an expensive house you might soon regret.

Las Vegas is full of failed gamblers and "investors" who cannot sell their over-priced homes fast enough. Don't let this happen to you. Meanwhile, I'd use that cash to purchase cheap rental properties in MI as long term hold strategy. Hire a local property management company to care for your rentals while you're gone, so they're generating income if (or when) you go belly-up in Vegas...

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Johnny,
This theard is for advice is for investing/home buying advice not gambling advice. I'm one of the biggest (top 500?) winners in online poker. 2/4NL online is harder than 50/100NL in Vegas (I know I’ve played and beaten both). This a worthless and emotional post but I hate it when people talk to me with a condescending attitude. Your post reeks of a negative emotional attudie towards myself and my peers and lacks logic or intellcult. If my down-payment on my house is 3 months post-tax revenue I don’t think I’m going to be in finical peril.

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Knowing a little bit about good2cu + reading this guy's post = lol

[Thremp]

Good2cu,

A+

[ubiestmea]

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All,

I admit I am basically a Real Estate fish but I don’t see how this isn’t a perfect time to buy. The front page of the Las Vegas Review Journal today proclaims, “Everyone has housing woes”, there are over 50,000 new unsold homes that aren’t selling and 2% of the houses in Las Vegas have been foreclosed. It seems like everyone is panicing and deeply slashing prices. Will these prices continue to fall? I can’t say and I doubt anyone else really can.

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Have you considered the effect of the rapidly dwindling water supply?

The Southern Nevada Water Authority predicts that even if all their projects to get more water are completed and working, by 2010 there will be a shortage of 64-million gallons of water a day. When people’s monthly water bill starts to approach the monthly house payment it’s got to be a negative for long term house prices.

http://www.klas-tv.com/Global/story.asp?S=6943263