Las Vegas has long been a paradise for gambling fans, but straight away it is the go-to destination for real estate investors who intend to snatch on rental units.
Nationally, this kind of investing has no good opportunities in years. Not only home prices are down but interest rates are practically all-time lows and rental payments are increasing.
In May, according to the NAR, 19 percent of home acquisitions were for investment, up from 17 percent in 2010.
Possible returns are better nowhere than in Las Vegas, according to a Local Market Monitor new research, a firm from North Carolina that focuses in forecasting real estate prices. The firm put together the study for HomeVestors, a franchise real estate investing group. The scrutiny placed 316 markets by estimated profits on investment in rental units of one-family homes.
The cities were ordered by estimated revenues in future compared with the predicted median revenue nationwide. According to Local Market Monitor’s statistics, for instance, investors in Las Vegas who rent out the housing units they purchase now will have a 4.7 percent higher return than the average 5.3 percent on a country scale.
The probability for returns has to be high for investors to enter into the risky market: specialists expect home values to decrease another 7 percent in the following three years.
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