In this video, I take a look at some RV lots at Las Vegas Motorcoach Resort in Nevada. The first video at LVM answering a lot of the rental questions- • LAS VEGAS MOTORCOACH R...
History is a great teacher. Andrew, great videos. Be careful on these lots unless you consider your "home place". We have one in Florida right near Disney and even if we tried to rent it, it barely covers, if at all the annual costs. Also, like others have pointed out, remember history as this year is eerily similar to a decade or so. I am waiting until next year to make a RV purchase or grabbing a lot. Lots of new RVers and buying places but let's see if they stick with it.
I enjoy all your RU-vid videos. You should do a video on a wheelchair Class A RV with hand control for us older folks who have a problem getting around. There is a video called RV Decor-Accessibility Renovation 14,295 views•Mar 5, 2015 . A look at a handicapped RV Décor customer who had his motorhome made accessible by a renovation done by RV Décor in Yuma, Arizona. An avid R/C Jet Pilot, Freddie's life had changed forever when he discovered a way to travel to fly-ins and be comfortable at the events in his coach. keep those videos coming. Thanks, Ray
Thanks everyone for their comments! Just wanted to address a common thought by many of the people commenting regarding you can buy a house for $400K. Of course you can but that’s apples and oranges. Totally different type of real estate. Just like how some high rise condos in town are $1 million for 1000 square feet. You could say, “well for $1 million I could buy a 7000 square foot mansion.” Different strokes for different folks. Some people like condos, some like homes, and some like a guard gated RV Resort with plenty of amenities.
Right now the RV market has never been hotter and there are a lot of naive people out there that have been buying up RVs and RV resort spots with little to no knowledge or experience. These same buyers could soon have buyer's remorse and unload both RVs and their RV resort spots. Once the Covid-19 settles down that's when there's going to be a big glut of RVs and RV resort spots hitting the market at steep discounts. If you wait a year or so you'll probably be able to take advantage of their quick RV buying impulses and get a great resort price. I will say it's a gorgeous place with great amenities. Be patient and you'll end up with an incredible spot loaded with all those extra outdoor appliances and gadgets. Remember, with no banks doing any type of financing there's always going to be great deals, especially when times get tough and people need quick cash. If you rent in the mean time you will roughly pay $2,000 per mth based on what the realtor had mentioned, and if you own the monthly expenses alone will be roughly $765 per month based on the figures he gave plus the down payment & monthly mortgage payments. Monthly expenses owning: (HOA $395 per mth, taxes $80 per month, insurance $40 per mth, electric $150 per mth and miscellaneous probably a $100 per mth). The advantage of renting and waiting for a decline in the market - there's no $25,000 down payment, no large monthly mortgage payment and no large balloon payment. The realtor also mentioned there where 407 resort spots and currently 56 available, that's roughly 14% of all the lots that are currently for sale and that's during one of the greatest times in RV history. Any slow down or RV sell off is going to create an incredible buying opportunity, be patient and you'll probably be able to save 20%. Thanks again for all the great videos, you've also introduced us to a lot of great resorts throughout the country. Take care
@@adriannurse1502 I agree about the 50% I just didn't want to scare Andrew. He doesn't understand that these pieces of land are a scam. Not much different than timeshare. If it was such a great piece of land Banks would lend on it. Thanks for your response.
@@ronrondondo4791 I'm not a democratic fan at all and I think they're up to no good all the time. But I have to say the video doesn't help make your point it's a wacky and weird video that barely has any views and most of them are thumbs down. If you're going to talk about the world order you have to find more convincing videos to make your point better. I added to the thumb down on the video. I'm a big Republican but like everything else the coronavirus will eventually pass. Then the Democrats will come up with something else to screw with America. Thank you for your response
@@livelrge1 Exactly! Plus with the real estate market on fire they would already be gone. Buying a RV pad during the high is a fast way to loose money.
Perfect weather from Sept-Nov, then you head to your 3rd spot in Florida, Texas, or South Carolina(Hilton Head) and you have all of the seasons covered. May-Aug in Poulson, Sep-Nov(shoulder) season in LV, and winters in the above mentioned Dec-Feb, back to LV Mar-May for perfect all season change of scenery and you rent them out as much as possible while you are at the others. End game....3 lots, 3 completely different climates and parts of this great country. End goal have rental income pay for as much of the required fees (taxes, Hoa’s, insurance, etc) on all three spots as possible while your money in the dirt appreciates. Two thumbs up! Great plan.
@@tumbleweedking5668 The DJT depression already is happening. The DJT administration has pillaged the Treasury. He's liar and a thief whose only skill is pulling a fast one on gullible people like you. Putin's puppet. Wouldn't have won w/o Russia's help. As usual, it will take Democratic leadership to put the country on sound financial footing. BIden/Harris 2020
@@s0ld4u Delusional.......inflation higher now than in 40+ years. That's all on Build Back Better Biden and Harris. Not Trump. Too many rounds of stimulus instead od structured fiscal spending.
Unless you have solid advice from your tax adviser, buying a luxury item, like a high-end RV site, on time, means you can't afford it. Stay in cash. The economy is far from coming back. Vegas real estate is notoriously volatile. Buy at or near the bottom. Not the top. Just this week, MGM Resorts announced it will lay off 18,000 currently furloughed employees in a few weeks. American Airlines will be doing the same to 19,000.
@@slewofdamascus I'm old enough to remember 1999/2000 and 2008. People were pouring money into the stock markets, certain gravity no longer existed. When everyone is piling in. Even borrowing against everything they own, to buy more real estate or stocks; it's time to cash out.
I wouldn’t bet what the future holds by the stock market. That would be completely stupid. The government just put over 2 trillion of fake money into the economy. What happens when that money drys up. People start losing jobs and their homes and cars than what. Their a lot of people in trouble right now.
@@ratj4715 it's the blow-off top to end all blow-off tops...my only recommendation is to buy bullion silver and/or gold or buy the mining shares if you are willing to take a gamble (2-party risk) on potential 1000% returns (which is quite conservative, actually, given the scale of the likely crash). jmo
Andrew, having 56+ lots for sale is a tale-tale sign, especially because its a well established RV Resort. For them banking on the football stadium to bring in more RV's....I just dont see a majority of Raiders fans doing this when they come to Vegas, they're gonna want to stay at bars/casinos where they can party 24/7. Id hold onto your money until November and then reassess.
I would pass on it for now. Las Vegas economy is taking a dive. I like the monthly get togethers. Not impressed with the fake grass or your golf cart driver.
Andrew, there's a wide variety of comments being posted here about alternatives to this investment. The reality is that for many of the owners you drove by, they are parking rigs that range from $300k to $2,5 million. This is not a KOA or a deluxe parking lot campground. Most owners there are insulated from the daily financial grind. You will not find a big collection of low-end coaches in there. No trailers, or fifth wheels, just class A motorcoaches. As for the residency portion, like AZ, even if you rent a home or an apartment here you are considered a resident and can register vehicles, register businesses, receive your mail, and get a Nevada license. I would do some comparisons against your costs to do all of that in Montana, Nevada, and Arizona before making that final decision of residency. Look at the state income tax implications, as well as any related business incentives. Remember, you are planning on earning a good portion of your living from RU-vid and their are different tax implications if that was generated through even an LLC. As to the suggestions to buy land and build, the medium price for a decent home here is now $385k and that would not include enough room for an RV. Also, like Phoenix and Fountain Hills, many housing developments in Las Vegas, Henderson, and Clark County have HOAs and parking large rigs is typically forbidden. There are some more rural areas that may allow that, but remember you are looking at LVM because of the amenities. Also, the community networking opportunities, the security, the convenience to shopping, and the surrounding resort corridor all add value. As for the city's demise, it may take longer that 2009 to come back, but Las Vegas will adapt and reinvent itself to attract the visitors back. Never bet against the house. Take into account that we have more than 2.2 million residents in all of Clark County and only 25% work in the gaming corridor. During good times we attracted 44 million visitors annually. Cut that in half and we will still exceed the quantity of visitors to the city of Paris (post virus). Even with COVID-19 we have close to $9 billion in construction in the resort zone, and a number of massive commercial projects going on in the valley that are not affected by the tourism downturn are in the hundreds of millions of dollars. You are frequently traveling so looking at anything that generates rental revenue helps to offset your monthly overhead. Plan it out and put it on paper. You'll know soon enough if it makes sense.
IF LVM IS SO GREAT AN INVESTMENT WHY WOULD ANYONE SELL? 50+ lots for sale give me a break. What ya gonna do when you get no rental income? You have 400+ lots there competing for that rental pool plus 50+ sellers that want out cause there making so much money. Just look at all the empty sites while you drive around in the golf cart. Where’s there rent coming from? Better to just rent whenever if ever you want to stay there.
The problem I see is that very few people can afford this. And if you can afford it why would you live in a motorhome. Why would you not live in a huge house, do you know what $400,000 what kind of house that would buy? Yeah I think this is a beautiful site but I live full-time in a fifth wheel and there’s no way I would have a RV if I had a $400,000 lot.
there is a certain amount of "natural" turnover in these places. think about it - that average age of the high end motor coach set is going to be well into their 70's. There's a certain amount that is going to drop dead every year. Plus there are the ones who decide to stop traveling and return home to be near kids/grandkids. I own in a place in California, and there is always a certain amount for sale because of deaths, change of lifestyle, etc. It's rarely ever that people hate the place or are disillusioned with it.
$300K for the corner lot plus $200K for the build out and the owner is selling it for $400K. I don't think that's a good way to park your money, Andrew!
I think Andrew is on something. He is like in dream land. If you are ultra rich and it doesn’t matter and you want to throw your money away go ahead and buy one. But if your trying to make a sensible investment this is not the way to go.
These are not places to "park money" or invest. Instead, this is for someone with significant financial reserves already, and its just another expense, just like the $1M coach. Owners will be able to get more of their money back than they will for the coaches they park on these lots.
Dang'it young man you've got me wanting to spend money around two years before my retirement plan is set up to do. I will stay the course but in two years I will definitely be looking into the option of buying RV Lots instead of worrying about finding places to rent when I do make the transition to full time RV Living and full retirement...
We bought a park model in Apache Wells RV Resort, Mesa, Arizona for under $60K, and we’re now renting it out for the 6 months of Arizona winter for $2,500 a month! About $500 monthly pays for all the amenities, weekly parties with food, beer and wine included, and endless activities. It’s a Cal-Am Resort and as an owner/renter you are entitled to use the amenities at any of the parks. They also have a Winter Concert Series with some great shows! Cal-Am is a 55+ community.....you have a few years Andrew.
financing on a 400K lot for 5 years with 20% down. so you pay $80K up front, and then even at 0.0% financing you'd be paying $5333/month. LOL Not to mention your coach......
If you look back at what those lots were selling for in this resort during the recession prices of 2009-2014 you will likely change your mind about buying anything for $400k. The residential rental eviction moratorium expires in Nevada on Sept. 1, and likely tens of thousands of evictions will commence immediately in Las Vegas. On a positive note, you will have nicer weather year round at your lot unlike some other parts of the U.S.. Find out if you are limited by the HOA to the number of days annually you can occupy your lot. Speaking of the Raiders stadium, it will not be occupied by any fans this season and rumors are swirling as to whether they will end up defaulting on their bond financing if the shutdown continues for an extended period. MGM just permanently laid off 18k employees. Nevada could not have had a worse governor at the helm during this pandemic (a moronic former Las Vegas city councilman). Loved your Sturgis videos!
The only thing that would stop me from buying here, it's las Vegas and the heat is crazy. That and no super C allowed. Was looking at those renegade motor coaches.
Agreed, the restrictions on the type of RV are crazy. He's better off buying a house with an RV pad then he can park anything he wants on it and come and go anytime he wants.
Andrew these lots are not profitable. After paying taxes, association fees, insurance, electricity and whatever else it’s a losing proposition don’t fool yourself same as Montana. Start saving your money invest in dividend paying stocks. You won’t owe anybody money. Just my two cents. I retired at 49 and it wasn’t by waisting my money. Oh and I could pay cash for any of those lots but I decided dividend paying stocks is a better way to go.
This is for a very old, very wealthy clientele. It’s ok to loose 35-50K a year if you got a few million in the bank and your looking for a good send off to the cemetery 😂😂😂
Hi Andrew! I was wondering if you bought a lot out here in Vegas yet? If you did it’s cool because we can be like neighbors. That area did look very nice. I’m not that far from where thus resort is. Thank you so much for showing this resort.
If you buy one of these lots, are they going to be cash flow positive from the rental??? My quick math says no but maybe I am not see the big picture. I use to live in Aztec RV resort(rented) in Margate, FL and love every second of it. Very similar to LVM. Over 3 years full timer and counting.
It's a life style, not a home..enjoy it Andrew I'll look for ya when the Border opens back up. We were that close to the coach and LVM before covid hit..
Hello Andrew and Sadie, while the dog park is gorgeous. The resort doesn't offer any off leash space for pups. So Sadie would not have any place to just run for a few minutes. The resort is really nice. The dog park area is the only thing that would make me sad. But it sounds like if you could do a deal it would be a good investment for you. Thank you for sharing your vlog. You and Sadie stay safe.
Not sure if I like like that housing tract right next to that resort. It would suck living in those houses, those diesels starting early every morning.
It is the upkeep I see you saving in comparison to a home, lot, water feature and etc. and more mess if you rent it out to get damaged in stick and bricks and here half or more paying for it in rental pool and less damage can happen with renters. $6,300 on dad's sewer tank and pipes and he is improving upon their 4 days of work himself. It is just a different deal...thanks..wishing for you.
Lvm beats casino any day! For the next two years I think that RV resort lots are going to be at a premium. I seriously need to look into one for myself.
I supposed if someone had a million dollar land yacht a couple hundred thousand isn't too bad to be able to park it if you aren't traveling in it. but as others said, I would buy a house with a large RV pad for about $3-4 hundred K here in Vegas. I just bought a nice little house for $257 (no pool or RV pad though)
We stayed there for three months. It's a fantastic place. I'd buy there before Polson. We've stayed at both. Much better investment opportunity at LVM.
That guy with a beer in one hand and a cigarette in the other does wonders for the property value. Lol. No seriously though, the whole time, beer in one and smoke in the other. Lol. I’m Canadian, so I love my beer, but either it’s the same beer, or that guy can really hold his liquor.
Andrew, wait on this and you do not want owner financing unless they will do a traditional mortgage term of at least 15 years, beware of a balloon payment turning up in a few years as that is when you will need to pay off the entire loan or the owner will take back the property, this is not a good idea. Also regardless that the stock marked is doing well the economy is in sad shape with many people unemployed and many to become that way. This second wave of people loosing jobs will be middle and upper wage earners and many of those are people with RV's and lots in RV parks and they will need to sell in distress and you if still earning well can buy when prices drop.
I pay over 100 K in property taxes in Malibu ca and Iam not there much :( but I’ve stayed there in Vegas before they bitched to much for us but we were a little loud 😂😂😂
Be careful of confirmation bias. The only “likes” I see in this comment section are on the ones that agree with you. Sorry Andrew, I’m one of those skeptical kind that would rather be honest than agreed with. ❤️
A lot of comments pointed this out... but, why buy that and be in a tiny lot that's going to be tough to sell (no financing) when the same money would buy you a nice home with an RV pad and a garage?
Those people have million dollar coach's they can afford to buy those lots, it is a beautiful rv resort, where i live in Vancouver bc you can't buy a house for that price
Shit for $400,000.00 dollar you could by a few acres out of town and set up your own pad and rent out or sub sell the others pads and make your money back and then some.
I guess I missing something. Nice place nice lot but for most people totally unrealistic . Seems likely this channel is moving towards mega richly folk. That’s ok I guess .
Marc Aaron Yeah still crazy. If I got this kind of money I probably buy a few acres to put it on. Some people got to much money. And are government keeps giving them tax cuts like they need it.
They are very dog friendly...as long as you keep them on a leash? Would be a deal breaker for me and it begs the question on why they wouldn't be allowed in all common areas on a leash, provided it's not inside the club house or other structures. Strange.
Seems nice but feels a little off. Not sure. Maybe it's just the fake grass and the particular staff/people in the video or just the Vegas vibe. Pretty cool though.
So why would happen to your lot if you purchased, then for some reason LVM went Bankrupt? What happens to your ownership interest in that circumstance?
@@billyjohnson9166 I am not saying they are going bankrupt, I am asking what happens if they did. The place looks great! I lived in Vegas during the last great recession. Folks who purchased condos and apartments in high rise buildings sometimes had real issues if the parent company who owned the structure went under.
C C Billy have you the same answer either way tho. Every lot that has been sold is owned by other folks now. I don’t know if any unsold original lots remain but I doubt it. So the underlying company owns nothing but the pools and other buildings now, all of the knots are owned by individual owners. If the was such a shortfall in money that bankruptcy was on the horizon then they would calculate how much money it would take to bring it positive, divide that by 407 for the number of lots and add it to the current HOA fees and that is what your new HOA fee would be. It’s possible that they could lose a few services while they get their act together again but that would probably only be a short disruption. The main way an HOA goes bankrupt is when folks are skimming off the procceds, especially when the site has been sold out originally. It happens more often tho in apartments/condos if there is a huge vacancy rate and HOA dues are not being paid and they have a big shortfall but in a case like this I doubt it would happen unless someone is skimming. But, if it ever did happen then yes, it could be a pain in the butt for up to a year to get things straightened out again but it’s not going to cease to operate. And it’s very unlikely to ever occur unless we went into another Great Depression. The luxury market is more sheltered from the apartment market because owners have money and the HOA fees will just increase to pull them out just like billy originally told you.
@@1982MCI Thanks for the response. So all the site owners are legally responsible for any debts or obligations of the HOA........I would have to look very carefully at that one before I invested.
