ok so i am buying a condo in vegas in the.....
 

Vdara tower.

its not built yet. nov '09 it will be ready

anyone know about this project by the mgm mirage?

http://www.citycenter.com/default.aspx

its the tower in the far right grey and white shaped like a crescent

im hoping this will be a nice investment. anyone have any info on this deal?

http://www.vegastodayandtomorrow.com/

That site has quite a bit of info on virtually every project in Vegas

this page is about City Center
http://www.vegastodayandtomorrow.com...nter.htm#const

cool site, thanks! :thumbsup

how much?

$671k and the prices are about to go up again. they already have 1/3 of the building sold out soon as they have 50% sold it goes up another 50k.... so before I even close I will have made money.

gotta love america

CVS Stranglehold
I'm sure I'm not the only one who has noticed this, but it's never been mentioned in any article regarding CityCenter (CC). Every rendering and model shows the CVS Pharmacy site (which is nestled between the Monte Carlo and CC) intact. Although I have not confirmed this, it seems that CVS won't sell to the MGM/Mirage monster. CVS purchased the 0.83 acres in March, 2002 for $4 million. Based on the $20 million per acre that strip property is now worth, this parcel is worth $16.6 million, which would be a nice profit for CVS and a spit-in-the-bucket for MGM MIRAGE. I know MGM wants this piece to fill out the CC project. Sales must be great for CVS to hold on to this coveted site. Maybe MGM MIRAGE will offer CVS a reduced rent, prime location within CC in exchange for the property. Time will tell.

I'm sure sales are fantastic for CVS..its the only pharmacy on that end of the strip..there is a Walgreens down by the Rivera, but those are the only 2 on the strip AFAIK. I think its possible they will incorporate a remodel to blend in with the City Center appearance..but then again, it could be more beneficial to stand out in that massive complex.

There is only one downside of buying condos in a hot market, which is the potential for a crash, especially when you are talking higher end properties. Not everyone is walking around with enough credit to buy a $700,000 condo.

Please consult the disaster that the Miami condo market is turning into for more infomation.

Good luck with it, if you intend to hold it for a while you will make good money, but if you are looking to flip it quick, be real careful.

vegas cant be compared to any other market, the strip specifically. I think its a very safe investment, there are investment groups all over the world getting in on this buying it up, with all the analysts etc checking this projct out, its gotta be a strong deal for sure. atleast thats my opinion, plus I do plan to hold onto it, its a great vacation place and a way to pay for itself in the mean time while I am not there since you can rent these out nightly to vacationers or ppl attendding conventions.

when the conventions are in town, there is virtually no hotel rooms avail, so it only strenghens my purchase

As a nobody, I'm curious:

- You're buying stuff.
- You have a lot of money.
- You = something

Why do you post? You're rich with no life? You a "proxy" for someone else paying you as a figure head or are you just bored?

I have no life and I am addicted to making money.
what else should I be doign right now?

traveling? you can only travel so much.

partying? I can do that at my house safely

hookers? i'm married

making deals and more money? yep, thats what i do and post in betwen and when im bored.

im a nobody just like you, im just richer

Nice man.
Thanks for the reply. I appreciate it.

how many sq feet? bedrooms?

very cool. good luck with it!

Actually, the Vegas condo market as well as the entire local housing market is in a major slump right now. I just sold my investment condo at the very south end of the strip. The build time ran way long and that extra time it took the build it cost me as the market is really slow right now. I still got a return on my investment, but nowhere near what I could of got had I been able to sell it a year ago.

I will say though, the investment PD is talking about most likely will not follow the normal local real estate trends as it is right in the heart of the strip and caters to the high end clientele. PD, just don't let the builder sell it for you when its done and you want to sell, they will rape you on commissions. Find a local agent and work a deal.

mine is 612sq ft

they start at like 524 sq ft upto 1kish

studio 1 bed and 2 bed

these are selling like hot cakes.. the entire project is 1/3 sold already... i dont see it hitting any slump at all... and I dont want to sell it, ive always wanted a place in vegas anmd to be able to rent it out nightly ontop of that makes it that much more attractive

Yeah as I said, I would guess that the development that you are talking about won't follow the normal Vegas real estate trends. However, do some research and you'll find that the real estate market there is in a major slump, more so than almost anywhere else. If you're not buying it with the notion of flipping it then you really don't have anything to worry about assuming you are able to rent it out as you'd like.

Yeah I wasn't really wanting to bust anyone's bubble, but Vegas and condos haven't had the best track record for the last few years.

Many condos were stopped from even breaking ground because no one way buying. There were some bad deals with others, some never sold out ...

Good luck with you new condo at vegas.......

I see them building it and it's unreal, I don't go near the strip often but every few weeks when I pass by it that thing is growing like a mofo.
They are literally building 24/7 on it. You can pass by it at 4 am on a Saturday and they are building.

A friend of mine has been waiting on his forever he got one in LOFT5 and they keep delaying with it.

As far as pimpeldog, Vegas will just have one more asshole, better be careful for many dickheads liek you this town can be a death trap.

Sebastian

haha
you dumb fat cow you dont even know me in person but its not like i would give you the time of day anyways

LMAO.. I am probably skinnier then you, but then again all you can really do is scream out physical descriptive characters. But it's good for you man, glad that it all paid of for you and that you could afford a condo that is smaller then my garage. Jerking off in front of the cam sure has paid off for you. Enjoy it for as long as it lasts.:thumbsup

are you jealous of me becuase I made a big success out of my life from nothing?

envy is a deadly sin....

Are you crazy!!!! it is a horrible time to purchase anything specially in Vegas! Hang on another 18 months or so

Obviously you have no clue.. Keep snorting the white powder. :thumbsup

Wait, you've bought and are asking now for advice?
I couldn't tell from your first couple of posts (before the usual drama set in..) ;)

I have not signed anything yet or put money down however the contract is in the mail to me

I will never understand why so many people spend more time worrying about others rather than themselves

isnt the market about to go down?

did you even read the thread or atleast a couple of relevant posts?

this isnt anyway related to the typical 'market'

especially when you are buying into a property that is currently 1/3 sold and not even built yet also after 2 price increases on the units and another one expected shortly when more are sold to justify the increase.

GFY sure has allot of realtors and lawyers and police and hardly any adult webmasters. kinda funny

wow... that's a very nice condo... :D a very good investment indeed...

They will manage the renting out nightly for you, right? Any idea how much you make per night on that? I'm sure they keep a big %age no?

Curious

Hey pimp, watch that Vegas shit.. People have been suing over issues with condos, not being completed, prices being jacked, all types of shit. Make sure you have a good lawyer with you at all times, that isn't from Vegas, while you do business within Vegas. It's a shark hole.

i live in vegas.. i wouldnt touch the condo market here for all the rice in china.

also, i think with that project you have to keep putting 10 percent down every x amount of months? and the project is 2 plus years away from completion?

although i wold rate the city center probably the 3rd best new condo property in vegas..

i would rahter buy at 1. trump towers and 2. the palms

also, directly across from the cvs is a walgreens..its right next to the fatburger and the m&m world.

there are so many condo projects still coming to vegas, its nuts. there is no business here to support that many people living in hi rise condos so they are basically going to just be short term rentals. also wynn has what another 3500 rooms adding to its hotel? and so does the venetian? plus the additional rooms in the rest of the city enter and how are they set to handle the traffic there?

i dont think its any wise investment..unless you are rolling with zillions..

out of all the posts, I think you have made the most uninformed post yet.

1st of all, you put 10% down now and 10% down in 6 months and at closing the rest.

2nd of all, it will have its own casino and 500k sq ft of confrence center space and over 500 new stores like prada, gucci, luis vitton etc etc, all top of the line stuff

also, the mgm mirage owns 64% of the strip, why would they be sinking in billions into this project? tax write off? some of the biggest investment groups are getting in on this project.

sorry, but your post is just ignorant. stick to porn guy, cause you arent that great at research and invisioning the future and the growth vegas is seeing regardless of the housing market. there is a reason why all the LEGIT condo projects have already old out or are nearly all pre sold.

just cause you live there doesnt make you an expert.


The Doc, good advice for sure, im not signing shit till its reviewed by my homie Venkat (lawyer in seattle)

and what in the fuck does cvs and walgreens have todo with my condo purchase?

LOL

pimpdog4LIFE

i dont think putting 20% into a 700k property and waiting 2 and a half years for it to close is a good investment. thats a long time. to me, owning one of those condos is a luxury item, not really an investment.

To me it seems too risky. but best of luck with it.

the cvs thing was mentioned that it was the only type of pharmacy thing down in that area thats why i mentioned it wasnt.

ahhh buying in las vegas is nice if u want to live their. If u want to make money buy in china and eastern europe. I maked good money in china alreayd bought a condo 4 years ago for 60k now its up to 400k good money.