What Makes a Good Investment?
March 29, 2024
What Kind of Single-Family Unit is Best?
Las Vegas has seen an incredible amount of development in recent years, and that is showing no signs of slowing down. With new developments springing up around the city, it can be hard to identify what communities and properties are best for your clients. While it is hard to go wrong while investing in Las Vegas, the type of property chosen is important in achieving your investment goals in a timely fashion.
This leaves townhomes as the sweet spot between the two extremes. Townhomes offer more space than condos, perfect for a couple, growing family, or a handful of roommates, while not being as large to only target large families or multiple occupants like an SFH. Townhomes will also come with lower HOA payments, as the community is no longer responsible for utilities. Not all townhomes are made the same, however. When evaluating townhomes, aim for only those that have two-car garage. Lacking that, look for single-car garages with driveway space. This is important because in many situations, when there is more than one tenant, they will have more than one vehicle. Whereas in most SFH communities, curb parking may be allowed, in many townhome and condo communities, this is not the case. This lack of parking space, and the complaints from the HOA it will cause, can be a make or break for an investment property.
If you want to make sure that you are orienting yourself towards the best possible investments to grow your real estate portfolio, feel free to contact us as your resident property manager to provide expert insights into what you can except from your potential rental property.
Cost Benefits
When faced with the option of single-family homes (SFH), townhomes, or condos, there are a couple factors to keep in mind that can help your clients make the right decisions. The first of these is cost. Typically, the purchase price of a SFHs will be more expensive than a townhome and a townhome will be more expensive than a condo. However, the purchase price is only part of the overall picture for an investment property. While townhomes and condos may be cheaper at the outset, they can come with hefty HOA fees that can eat up a large part of your clients' profit margin. Although HOAs are everywhere in Las Vegas, the cost of an HOA in a SFH community will likely be significantly lower than in a similar townhome or condo community. Continuing with the cost analysis of these types of properties, SFHs will likely incur higher maintenance costs than the other two types of properties. This is because outside of certain circumstances, HOAs cover many of the external and community repairs of condos and townhomes, whereas in SFH communities most, if not all, of the maintenance burden is placed on the homeowner.Market Appeal
Another factor that should be considered when investing in rental properties is making sure your properties appeal to the widest market of possible renters. This will ensure the largest selection of potential tenants and increase your clients' odds of having the perfect tenant in their property. On the average, condos will be the smallest type of property that can be offered. These relatively small units will appeal to tenants who do not need much space, or those without many pets. Additionally, to cover the increased cost of HOAs, these units will tend to have higher rent amounts. On the other hand, SFHs will offer the most space, with the potential for added benefits in the form of backyards, pools, and larger garages. However, this space will be at a premium and is best suited for tenants who could take advantage of the 3+ bedrooms.This leaves townhomes as the sweet spot between the two extremes. Townhomes offer more space than condos, perfect for a couple, growing family, or a handful of roommates, while not being as large to only target large families or multiple occupants like an SFH. Townhomes will also come with lower HOA payments, as the community is no longer responsible for utilities. Not all townhomes are made the same, however. When evaluating townhomes, aim for only those that have two-car garage. Lacking that, look for single-car garages with driveway space. This is important because in many situations, when there is more than one tenant, they will have more than one vehicle. Whereas in most SFH communities, curb parking may be allowed, in many townhome and condo communities, this is not the case. This lack of parking space, and the complaints from the HOA it will cause, can be a make or break for an investment property.
If you want to make sure that you are orienting yourself towards the best possible investments to grow your real estate portfolio, feel free to contact us as your resident property manager to provide expert insights into what you can except from your potential rental property.
Whether you’re planning a romantic night out or a fun hangout with friends, fall and winter in Las Vegas bring the perfect mix of cool weather, and cozy vibes. From outdoor adventures to stay-in nights, here are some great ways to make the most of the season. 1. Skate Under the Stars at Fontainebleau’s Ice Rink Bundle up and glide across the ice surrounded by glittering lights and holiday cheer. Whether you’re holding hands or racing your bestie, it’s a festive way to kick off the winter season. 2. Explore Enchant at Las Vegas Ballpark Get lost in a maze of sparkling lights, sip on hot cocoa, and take a million photos together. Enchant is pure holiday magic — perfect for a romantic night or a friends’ night out filled with laughter and selfies. 3. Sunset Picnic at Red Rock Canyon Take advantage of the cooler weather and head out to Red Rock for a cozy outdoor date. Pack a picnic, bring a blanket, and catch the golden-hour glow over the desert cliffs. It’s peaceful, picturesque, and a great way to unwind together. 4. Rooftop Lounge Vibes Head to the Skyfall Lounge for sweeping views of the city lights. Grab a seat by the firepit, share a few laughs (or a cocktail flight), and soak in the stunning skyline. It’s equally perfect for date night or a friends’ catch-up. 5. Stay In & Solve an “Unsolved Case File” If you’re in the mood to stay cozy, pick up an Unsolved Case File game and put your detective skills to the test. Light some candles, order takeout, and enjoy a night of mystery, teamwork, and laughs — no going out required. From twinkling lights to cozy nights in, Las Vegas offers so many ways to make memories this season — whether it’s with your favorite person or your favorite people.
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What Do HOAs Do and Why They Matter
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In business, one truth always stands out: no one succeeds alone. Whether you’re running a small business or managing a large organization, your success is built on the connections you make. And one of the simplest yet most impactful ways to strengthen those relationships is through gratitude.
Planning a trip to Las Vegas? Whether it’s your first visit or your tenth, it’s easy to get overwhelmed by all the options. As locals, we know how to balance the must-see attractions with spots that many visitors miss. This four-day itinerary blends the energy of the Strip with the character of the neighborhoods beyond it, giving you a true taste of what Vegas has to offer.
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