Anyone know any condo owners at the Signature? I've seen some units for as low as 100k and ive been pondering the idea of buying one. Just wondering how the management company is.
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Vegas is everything that’s right with America. You can do whatever you want, 24 hours a day. They’ve effectively legalized everything there.
-Drew Carey
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I've been thinking the same thing but not sure about how the renting it out thing works. If anyone has any experience, please let us know.Originally posted by ocralph714 View Post -
I actually toyed with that idea for a College Fund for my Daughter - either a large securities and commodities portfolio, or second option was to buy a condo on the strip in Las Vegas.
You can get a nice 2 bed, 2 bath condo at the MGM Sig. for about $150k with cheap property taxes and association dues. Figure 20% down is $30k and then you figure a $120k mortgage 15 year fixed at around 4% nowadays. Monthly you're looking at around $900 principal and taxes. Condo is paid for in 15 years, free place to stay on the strip over the next 16 years. You let that condo appreciate in value over 16 years and then when our little girl is ready for college, we sell.
Suffice to say, my wife did not like that idea very much."Bringing a girl to Vegas is like bringing a warm beer to a bar that serves FREE COLD BEERS... and everyone sitting there just spilling Cold Beer all over the place and you have to pretend you just loooove your warm beer." - Andy Haynes
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What about in regard to rent them out when you aren't using them. Can they be rented out using the onsite property management, or do you need to find a 3rd party to handle all of that?Comment
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Originally posted by BSM View Post
Where do you see those listings? I hear the HOA fees are outrageous.Comment
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I've read that the HOA fees are $500, but you do get alot for 500. Also, I've read that the MGM management co. will do like a 40/60 split, or 70/30 split, but ive read conflicting reports on who gets the bigger share.
I've seriously been considering buying one of these and letting the management co. run it.Vegas is everything that’s right with America. You can do whatever you want, 24 hours a day. They’ve effectively legalized everything there.
-Drew Carey
theFacebook:http://www.facebook.com/#!/ocralph714
Twitter: http://twitter.com/#!/ocralph714Comment
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Foreclosures mostly.Originally posted by happy_gimp View Post"Bringing a girl to Vegas is like bringing a warm beer to a bar that serves FREE COLD BEERS... and everyone sitting there just spilling Cold Beer all over the place and you have to pretend you just loooove your warm beer." - Andy Haynes
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