The Inside Tip

-By John Tippins

Property values across Las Vegas have been increasing as the foreclosure market shrinks and the post-crash paranoia lessens. But, for many looking for investment opportunities, real estate is still a new investment market and entering it can a bit confusing. So with that said, here are my tips to real estate investments.

Location, Location, Location: Don’t be close-minded and only search areas you are familiar with. Remember, if pure investment is your goal then you want a property that is attractive in the rental market–because in the end it is someone else, with different preferences, who will ultimately call it a home.

Network With Other Investors: Look for real estate clubs and societies to join where you can get the input of other investors in the area. There are many experienced real estate investors who can offer great advise on which properties are hot.

Team Up With A Great Realtor: Realtors–the good ones at least–spend their lives studying the market and eyeing properties for potential buyers. Find a realtor who understands important financial concepts like return on investment (ROI) and net operating income (NOI). A great realtor will guide you toward a property that fits your goals rather than his/her wallet.

Credit Is King: Unless you’re Mr. Moneybags, with cash to throw down, you better check your credit report and make sure you are in the clear of any bad debts. You may think a property is affordable, but it only matters if your lender agrees. Meet with a lender before looking to invest and have them review your finances with you. There is nothing more discerning than to find the property you want only to have the lenders say “no.”

John Tippins is the CEO of Northcap, owner, operator and listing brokerage for over 2,000 distinct high rise and mid rise units in Las Vegas including The Ogden, Juhl, Palms Place Condo Hotel & Spa.