anyone living in vegas right now? house question

[pico]

my friend is thinking about starting a REIT for single home houses in vegas. pretty much buy foreclosed and fix-it up and rent it out.

house price is pretty cheap, but i doubt anyone is renting in vegas. from what i've heard, vegas suburbs is like a ghost town..

those of you who live in vegas, do you think there is a rental market in a year or so?

[pico]

looking at summerlin area

[SoCalFisher]

3 bed 2 bath 1500 sq. ft rents for 1050-1100 in Summ. right now. I dont see a big change in the next year.

[csm506]

Right now I would stay out of any fix up and rent situation if you are looking to buy a foreclosure and live in it, then maybe you are a winner.

[pico]

thanks for the input

[cotsy2010]

no point in doing it waste of money at the mo

[noties]

what about buy a forclosure an live in it till the market turns ?

[mindtrix]

vegas housing market wont bounce back for a while. vegas runs on tourism and no one has money to burn in vegas right now.