vegas+investments = good times!

[joel]

vacation home anyone?

http://ca.finance.yahoo.com/news/Invest ... 8.html?x=0

[jeSteR]

Actually, after my current house build is done, I was looking at buying a place in Scottsdale or Vegas. Currently, looks like I can pick up a new 2800 sqft detached in a gated community for under $160K. I'm heavily leaning towards Arizona as there are far more forms of healthy entertainment activities there, but if any of you are open to splitting a place in Nevada, I would be interested. July is my approximate timeframe.

[Duncan]

If i weren't looking to buy a home next year i'd consider it...

but hey, nothing stopping you from doing it yourself! just invite us over for free accommodations when the good times start!

[jeSteR]

I can't justify a place in Phoenix AND Vegas. The Phoenix one will probably go ahead. Vegas would only happen if I get a partner

[joel]

i wouldn't mind a place in vegas... maybe after i get laid off, i can switch careers to playing poker!

just need to convince the wife that it's viable option...

[geForce]

[Duncan]

i believe it was closer to $500 wasn't it? lol... but yea, just tell her you can earn $500/day!!! that's potentially over $125k/yr!!!!

[nature boy]

wait until july and save another 16%. it's in the cards.

buying a place in vegas will only be worth it if you're close to the strip. otherwise no one would want to rent it from you and then it'll just be sitting there tying up cash. and if you rent it to people who live there, then you won't be using it come vacation time.

[jeSteR]

Just for clarification, I do NOT plan on renting the place out, so if you want to partner up, then you'd need to know that going in.

[nature boy]

haha good luck finding a partner then.

[joel]

if you are serious, i might be interested. so are you looking to buy it outright then?

i have been looking for some good investment opportunities...

[nature boy]

maybe it's just me and my bad money sense, but i don't see how this is a good investment. you'll be putting money into something that you'll use what, once or twice a year? and the rest of the time you'll be paying mortgage, tax and whatever else have you.

if you had renters, then that's a different story, but buying a cheap house that will remain unused in a seemingly unstable market doesn't sound like a good idea to me.

[jeSteR]

[se7entse7en]

To further expand on Nathan's point, whatcha gonna do about the potential squatters? What are the squatter's rights out there?

[jeSteR]