Viva Las Vegas – Investing In Las Vegas’ Preconstruction Real Estate
Experts agree wholeheartedly that the Las Vegas real estate market is hot and projected to stay hot for a while. There is no shortage of investment opportunities, and savvy investors have long since known that real estate is the way to go. While some gobbled up available single family homes and then decided to rent them out or re-sell them, others have decided to purchase apartment buildings. With the ever growing population of Las Vegas, it is no surprise that rents have shot up and investors in rental properties are realizing healthy profits.
There is, however, another real estate investment opportunity out there for those who are neither interested in buying up existing properties nor see themselves as landlords any time soon. This opportunity is the preconstruction real estate market!
The steps to take are surprisingly simple.
1. Find a reputable developer who is well known in the industry. Check out the developer’s reputation via the better business bureaus, and also by asking questions of those who have been in the industry for a while.
2. Secure a loan to purchase a piece of real estate that is in the preconstruction phase. This simply means that it has not yet been built.
3. Hold on to your ownership interest for while. When the value has gone up, sell it. Conversely, hold on to it even longer, take out a loan on the equity you have gained, and purchase even more real property.
As you can see, when investing in Las Vegas’ exploding real estate market, it pays to think outside the box!