WELCOME TO LAS VEGAS
We bought a home here in 2022 and LOVE IT!
We try to spend as much time here as we can. For now, with our work schedules, we typically spend one month in the winter and one month in the summer. Whether you buy a single family home or multifamily, I would definitely recommend buying into a home/complex that has a pool and/or hot tub. It makes it more enjoyable for year round experience whether you are using your property for personal or investment or a combination of both which is what I do. The rental market here in LV is similar to Vancouver area in that it is very strong and pretty easy to acquire tenants/guests if you are priced competitively and have a nice home to offer.
We AirBnB our home when we are not here. In Clark County, which includes the Strip and Summerlin, unless you have an short term rental permit and Nevada business licence you must rent for 31 days or more. I have used AirBnB for many years and find it a very easy platform to use for renting. VRBO is another popular rental platform and you can use both if you want. Unfortunately in the city of Las Vegas you cannot get a short term rental permit as a non resident. You can however get one in the neighboring city of Henderson. Henderson is very popular and about the same distance to the Strip as Summerlin. If you want to buy an investment property here and just rent it out full time, you can do so and can use a property management company to help find and deal with any tenant issues. Like Strata Corporations in Canada, Home Owners Associations (HOA) in the US all have different rules around rentals. We bought a detached home in a non HOA area so we could have more flexibility around ownership/rental. You will have to declare your income in the US and file a tax return with the IRS. Don’t worry, you won’t get double taxed with CRA.
The buying process here was relatively easy for a non resident/foreigner. I feel safe owning a home in the US and I feel my investment is secure as opposed to owning in other foreign countries. If you come with cash, the closing costs are considerably cheaper!
When you are ready to take the next step in home ownership in LV, let me know! I work with wonderful agents in LV who will guide you through the process and help you buy a piece of Sin City!
sample of homes on the market
