Purchasing an investment property in Las Vegas can be both a fantastic opportunity and a financial gamble. The biggest question is what to purchase. There are quite a few options including single family homes, multi-family homes, condominiums, and various types of commercial properties. Generally, single family homes and condominiums are the most popular investment properties available in the Las Vegas market. For people who are “just getting their feet wet” these are probably the best options start with.

There are many things to take in account when purchasing an investment property. The first is getting value for your money. The single family home median is $134,925. It is important to figure out how long you plan on keeping a property and how you plan on making money; rental vs. “flipping the property”. In the current market the direction of home prices are still uncertain and for that reason rental properties are the most popular purchases being made.

With the median condominium price at $69,000 it may be a good time to purchase a unit to rent out. However there are some downside’s to owning a condo. The main obstacle is financing, most finance company’s are asking for 20% down with a minimum balance of $100,000. If you are purchasing a property that is under 100k you may have too pay cash and for that reason it may be better to look for a single family home.

Regardless of the type of property you purchase, Las Vegas offers a unique opportunity.