Nice intro!! It was good about 12 years ago but now due to the rates it’s tough for younger people. It’s a shame but not impossible. We invested in HI and CA and we were lucky BUT I tell people to prepare for a sunny day not just a rainy day. What that means is to SAVE your money and get a down payment. Being house poor is not a bad thing, if you keep a budget things will smooth itself out. You have to work within your means and not get a house that’s too big for your budget. We were house poor for about 8 years but after that we were able to get more properties. We were not crazy rich either, 9-5 jobs for both of us.
I remember the home loan interest rates being over 18% in the 80's. I don't think they'll ever be as low as they've been in the last few years, but they will come down a little. In the meantime, save your money and you'll have a larger down payment that will bring down your monthly mortgage payments. You also want to put down 20% to avoid having to pay mortgage insurance each month. When you're ready to buy there are a couple of good suggestions to think about. One is to buy the least expensive house in the most expensive area, and two is to buy in the location where it's the flow of new development. Loved the video. Great job Jorge.
Nice intro shot and congrats on your promotion! I thought about buying a place in Vegas way back in the late 2000s during the recession. A new home in a nice neighborhood with 4 bedrooms and 4 baths were going for less than $300k back in those days. Some were as low as 200k. Those homes are probably in the upper $500-700k now. 😔
@@Vegas-Must-Try Well, if there's a recession again and the housing market goes to shit like it did back then, home prices would be down a lot. I think most people forget that Vegas and Arizona housing market got hit the worst when the recession hit back in 2008 and 2009. In the early 2000s, Vegas housing was booming like it is now and there homes being built left and right and then the recession hits and people couldn't afford their homes anymore. It didn't help that banks were giving out loans left and right to people couldn't afford or shouldn't buy a house. 😔
I liked the direction of this vlog. Far different from what you’ve posted before. I’m thinking about buying property in LV as an asset and your vlog was appreciated and informative.
I left the coast of CA 20 years ago one thing i have observed no matter the passage of time Las Vegas is always 1/3-1/2 the cost CA. Its a perm cost advantage plus 0% state income tax. Its also 8-10 degrees cooler (summerlin) than PHX where i lived for 7 years.
Great content, especially since this video is out of your comfort zone. Congrats on the recent work promotion. Agreed with everything you covered and way to be financially responsible. Keep up the great work!
This is 100% true, I'm an insurance agent it's honestly not worth it to buy, I have a beautiful apartment in Henderson for $1400 and if anything goes wrong I just call maintenance, if anything happens I have renters insurance that covers all my personal property.I bought a house out of state last year it wasn't worth it at all, I flipped it in a year and went back to renting
Appreciate this informative video Jorge! Thanks for all the visuals, data, and research put into this video (we know it's not your usual video). Also that intro was awesome 🔥
Bought my house back in 1999 for $120,000. Now the same house is worth $410,000. It's only gonna get more expensive because people kept moving here from Cali and turning Vegas into new L.A. I live here for 30+ years and Vegas used to be affordable. Traffic wasn't bad , you could literally drive across town in 15 mins. Crime was relatively low compared to other major cities. Nowadays not so much , you got idiots driving insane on the roads. Homeless are every corners. Crime is way up. Its only gonna get worse.
You bring facts and just straight info without the hype or bashing - I would suggest buyers should wait until you have 20% down - you avoid the mortgage ins and get a better % rate. The primary risk to LV is climate and water - We act like that will never become a real issue until it does. When it snows in Palm Beach - we might consider the alternative here in the desert. If we start painting 120's as routine ? Many retirees will leave - Wealthy will leave. The high-end market will get crushed.
Great information, thank you. I want a home in Henderson and I am trying to figure out what's best for me. Should I rent an apartment where I don't have to worry about maintenance or buy and have the freedom of choice
great pivot!! my rules that I follow is pay off your ccard debts, pay ur loans down to 3% or less, set aside 20/25% to avoid mortgage insurance and also have money to buy down the rate that makes u comfortable. A 750-800 credit score will get you the best rates!! anything over 800 is just a FLEX! Ur income/debt ratio is huge! but if you walk up to a lender and you have no debt at all, some will look at you SUSPECT!! I had no debt when I started looking for a house and basically had to buy stuff, wait for 60/90 days to show some debt from ccards and 2 loans.
Those are great tips. I have no debt because it paid everything off and my credit score is within those sets. The lender I spoke to recently said I don't have to have a 20-25% downpayment to avoid that mortgage insurance. I can do it with a 5%. that was the first time I had heard.
@@Vegas-Must-Try bro he's lying unless the game has changed!! conventional is the way to go! I would talk with 2 other reputable loan agents and I guarantee you will hear different stories! never play all of ur cards with these folks and ur agent! and until you hear those magic words "the seller accepted ur offer" keep it moving.
Maybe start off with a townhome? That’s what we did. I also had a large down payment which I had been saving for years. The townhome (a duplex) was in the high $300’s in cadence.
Boulder city. Its not far away at all, only around 30 miles. When i lived in Seattle my commute was 30-75 miles each way which would take me 1-2 hours each way.
@Vegas-Must-Try definitely. There really is no commute in Vegas. Cities popping up 30 miles outside vegas will be the next boom once all the sand lots in the bowl dry up.
As a single woman (business owner), I can’t afford a mortgage payment. I have a nice apartment with a gym, pool etc., it’s gated, we have security. I feel safe here, my neighbors are nice and maintenance fixes everything. I can’t imagine the responsibility of a house. I refuse to pay $400k for a house I know damn well was $150k 6 years ago.
I have a lot of coulda, woulda, shoulda when it comes to moving to Las Vegas. If I had only moved out there back around 2015...smh. That intro was dope. It had a little bit of Zach King going on.
There will never be a good time, to be honest. Mortgage rates will never get back down to 3 or 4% again. Homes values will keep skyrocketing. It’s hard to be a first time buyer.
Hey Jorge! I have some 2025 new construction builds in the SW all spect out for $397k and the builder is giving a 4.99 rate 3bed 3 bath 2 car garage smart home
@ yes, its off blue diamond rd & decatur. If you want a decent resale home in the 400k range, its gonna be in a lil north of summerlin off the 215 & Cheyenne. I listed one and got it sold 0 days on the market. My wife and I saw you at Durango , you were carrying a backpack with the camera stuff
Shame on the Gov't for allowing this to happen. The American dream, yeah right. If you want to live in a house, and have kids, and lease a nice vehicle, and have cable tv/netflix subscription, and take vacations, and save for retirement, I don't even know how much that would require anymore, but it is out of reach for the majority of ppl that live in Vegas, especially for the hospitality workers. Shame on the Gov't for allowing this to get this way....
Jorge, I've built 3 homes...always been a fan of the Real Estate even though it is not my career field. Do Not but right now. It may take some time, but rates will come down below 6%. That will be the sweet spot. Yes prices may go up, but dont listen to mortgage guys that tell you to "date the rate". (Refi's have fees and closing costs, its NOT free to refi you will need "cash to close" again) Buy when rates are lower and you have more buyimg power. You have a great head on your shoulder's. Too many people are "house poor" right now and make fantastic salaries. At the end of the day, its just a house. Stick to your plan, and all will work out. LOVED this content!🔥
🙌🙌 “ Not only Vegas, is an entertainment capital in the world, 🌎 … “ But also a Great, 👍 Food, 🍱 🥂☕️ capital in the world,🌎 !!!!! 🙌🙌 “ No matter how high, the housing markets are in Vegas, to me personally Vegas, is still affordable, $$$$$ No problemo !!!!!!!!! 🙌🙌 👍 👌😉
Just move to Asia or Eastern Europe. Thailand or Vietnam, $300/mo rent. Slow travel to many countries, much more exciting than being tied to your house. Of course, save first, invest and get online jobs and then slow travel.
Definitely wait Jorge until the rates go down a bit….and hopefully your spouse has a job too. Double income can help with your math equations and getting a better home obviously 😊
The problem to what you’re saying is, you’re afraid to just suck it up for 3 or 4 years and give yourself a chance of actually making money, instead you choose to play it safe and rent and not even getting a shot of getting any money back or may be even making money. So many people been waiting for the housing market to crash and that’s why it will not happen anytime soon.
You're right, it will not crash (hopefully) but the opportunity cost that I currently have outweighs investing in the stock market at the moment. all of my investments have grown much higher in previous 2 years than if I were to have bought a home but I think this will flip soon!
You’re one of those that want real estate but always look for an excuse. You need to get into real estate any way possible. Imagine buying a property with a partner and both sharing the costs. Write a five year contract where either party can buy the other out sell the property or continue for another agreed amount of time. Or another way is buy in a lower priced area with enough down and rent the property to pay mortgage and rent a property you want to live in. To make money in real estate you have to jump in and sometimes bite the bullet on all the extras you spend money on Your young and real estate will always be going up. I owned 3 houses by the time I was 25. My own home and two rentals. I lived very sparsely and over time made money on every piece of property. Quit complaining and invest.
@ again using an excuse about who had it better yes I’m older but I only made $8,000 a year as a beginning teacher. I couldn’t afford to play golf for a $1.50 and had to wait for twilight to play for $0.75 I bought my first house and discovered what the agent made so I studied and got my real estate license and went to work on the side using my commission towards buying property for myself and with a partner. My first home was bought at 7.75% rental at 10%. Sold property 12 years later in 1988 and bought above my means at 10% still on teachers salary at 10% Never had a lot of extra money but still enjoyed life. Later sold that home 10 years later at 50% profit bought another smaller home in the area for half the price of what I sold previous home then 12 years later sold that home for 100% profit sold that home and moved to Vegas two years later for half the price I sold my previous home. The entire time I owned property interest rates were 7.75% to 12%. No excuses.
@@Vegas-Must-Trykeep doing that for a few more years. Save your money and you will be able to get a house. Like someone else said, get a smaller house in a really good neighborhood. We all have too much stuff anyway. Im a senior now and trying to declutter and get rid of stuff. Great video.
Keep watching the intro over and over again! That was AWESOME!!!!👌
Thanks brother!
Great content per usual ✅✅✅
Great information and we enjoyed the new content.
Thank you!
Great video, Jorge! Keep up the great work.
Thanks so much!!
Your analysis is spot on. I live in Phoenix and it’s the same thing here.
Phoenix is pretty much Vegas without casinos.
I bought mine in summerlin 3 years ago this week! Sight unseen fixer upper and I was in Seattle! Best decision I've ever made
Lucky and smart!
@Vegas-Must-Try thank you! Almost nailed the lowest rate too! Next home run is crypto specifically doge and very soon imo. Currently 34 cents
Loved the intro! Great video
Appreciate it!
Nice intro!! It was good about 12 years ago but now due to the rates it’s tough for younger people. It’s a shame but not impossible. We invested in HI and CA and we were lucky BUT I tell people to prepare for a sunny day not just a rainy day. What that means is to SAVE your money and get a down payment.
Being house poor is not a bad thing, if you keep a budget things will smooth itself out. You have to work within your means and not get a house that’s too big for your budget. We were house poor for about 8 years but after that we were able to get more properties. We were not crazy rich either, 9-5 jobs for both of us.
Thanks for insight, i think once the wifey is able to work we can have more piece of mind.
I remember the home loan interest rates being over 18% in the 80's. I don't think they'll ever be as low as they've been in the last few years, but they will come down a little. In the meantime, save your money and you'll have a larger down payment that will bring down your monthly mortgage payments. You also want to put down 20% to avoid having to pay mortgage insurance each month. When you're ready to buy there are a couple of good suggestions to think about. One is to buy the least expensive house in the most expensive area, and two is to buy in the location where it's the flow of new development. Loved the video. Great job Jorge.
I appreciate the advice, and yes, those rates were nuts!
Nice intro shot and congrats on your promotion! I thought about buying a place in Vegas way back in the late 2000s during the recession. A new home in a nice neighborhood with 4 bedrooms and 4 baths were going for less than $300k back in those days. Some were as low as 200k. Those homes are probably in the upper $500-700k now. 😔
Yeah that’s crazy, but it was a different time! I wish i was an adult then lol
@@Vegas-Must-Try Well, if there's a recession again and the housing market goes to shit like it did back then, home prices would be down a lot. I think most people forget that Vegas and Arizona housing market got hit the worst when the recession hit back in 2008 and 2009. In the early 2000s, Vegas housing was booming like it is now and there homes being built left and right and then the recession hits and people couldn't afford their homes anymore. It didn't help that banks were giving out loans left and right to people couldn't afford or shouldn't buy a house. 😔
Great informational video!
Thanks Shawn!
Yooooo GOAT intro!
thanks brother!
I liked the direction of this vlog. Far different from what you’ve posted before. I’m thinking about buying property in LV as an asset and your vlog was appreciated and informative.
If you're in the position to purchase right now! I honestly think it's going to be a great investment for years to come!
Appreciate your perspective, respect your hustle 👍
Appreciate that! ✊
I left the coast of CA 20 years ago one thing i have observed no matter the passage of time Las Vegas is always 1/3-1/2 the cost CA. Its a perm cost advantage plus 0% state income tax. Its also 8-10 degrees cooler (summerlin) than PHX where i lived for 7 years.
You are right on the money. It's a huge perk to live in Nevada.
Great content, especially since this video is out of your comfort zone. Congrats on the recent work promotion. Agreed with everything you covered and way to be financially responsible. Keep up the great work!
This is 100% true, I'm an insurance agent it's honestly not worth it to buy, I have a beautiful apartment in Henderson for $1400 and if anything goes wrong I just call maintenance, if anything happens I have renters insurance that covers all my personal property.I bought a house out of state last year it wasn't worth it at all, I flipped it in a year and went back to renting
Yeah man, that's the way to go right now! I currently rent a house with 3 rooms available for $1000 which is a steal!
Congrats Jorge on your promotion! 😀💯😀
Thanks! 😃
Great intro video!!! Thanks for the housing info❤
You are so welcome!
Thank you for this, Jorge. Great information! I was thinking about heading out that way but, you have just changed my mind........Crazy!!
Still a great option!
Appreciate this informative video Jorge! Thanks for all the visuals, data, and research put into this video (we know it's not your usual video). Also that intro was awesome 🔥
Appreciate you man! 😁 yeah wanted to try something new in the new year
Ty for sharing Jorge, makes sense. 😊
Appreciate it! It's a tough market out there.
Bought my house back in 1999 for $120,000. Now the same house is worth $410,000. It's only gonna get more expensive because people kept moving here from Cali and turning Vegas into new L.A. I live here for 30+ years and Vegas used to be affordable. Traffic wasn't bad , you could literally drive across town in 15 mins. Crime was relatively low compared to other major cities. Nowadays not so much , you got idiots driving insane on the roads. Homeless are every corners. Crime is way up. Its only gonna get worse.
You bring facts and just straight info without the hype or bashing - I would suggest buyers should wait until you have 20% down - you avoid the mortgage ins and get a better % rate. The primary risk to LV is climate and water - We act like that will never become a real issue until it does. When it snows in Palm Beach - we might consider the alternative here in the desert. If we start painting 120's as routine ? Many retirees will leave - Wealthy will leave. The high-end market will get crushed.
Thanks for the insight!
Great information, thank you. I want a home in Henderson and I am trying to figure out what's best for me. Should I rent an apartment where I don't have to worry about maintenance or buy and have the freedom of choice
I'd say rent for the time being but if you're planning to keep the house long term, buy
Great video Jorge!! 10PLV for life!
10P babyyy
Yo, so much time and effort when into these shots 🎥
Appreciate it, man! Wanted to make this video pop haha
Excellent video 🏆
Thanks bro!
great pivot!! my rules that I follow is pay off your ccard debts, pay ur loans down to 3% or less, set aside 20/25% to avoid mortgage insurance and also have money to buy down the rate that makes u comfortable. A 750-800 credit score will get you the best rates!! anything over 800 is just a FLEX! Ur income/debt ratio is huge! but if you walk up to a lender and you have no debt at all, some will look at you SUSPECT!! I had no debt when I started looking for a house and basically had to buy stuff, wait for 60/90 days to show some debt from ccards and 2 loans.
Those are great tips. I have no debt because it paid everything off and my credit score is within those sets. The lender I spoke to recently said I don't have to have a 20-25% downpayment to avoid that mortgage insurance. I can do it with a 5%.
that was the first time I had heard.
@@Vegas-Must-Try bro he's lying unless the game has changed!! conventional is the way to go! I would talk with 2 other reputable loan agents and I guarantee you will hear different stories! never play all of ur cards with these folks and ur agent! and until you hear those magic words "the seller accepted ur offer" keep it moving.
Maybe start off with a townhome? That’s what we did. I also had a large down payment which I had been saving for years. The townhome (a duplex) was in the high $300’s in cadence.
By duplex, do you mean you owned the other as well? no right? I remember looking at some townhouses in Cadence in the high 300's a few months ago
At :51 there’s some code error that pops up instead of your video. Love your videos!! ✌️
Oh woww thanks for heads up :)
Boulder city. Its not far away at all, only around 30 miles. When i lived in Seattle my commute was 30-75 miles each way which would take me 1-2 hours each way.
I feel like it's normal to commute in other cities more than here
@Vegas-Must-Try definitely. There really is no commute in Vegas. Cities popping up 30 miles outside vegas will be the next boom once all the sand lots in the bowl dry up.
As a single woman (business owner), I can’t afford a mortgage payment. I have a nice apartment with a gym, pool etc., it’s gated, we have security. I feel safe here, my neighbors are nice and maintenance fixes everything. I can’t imagine the responsibility of a house. I refuse to pay $400k for a house I know damn well was $150k 6 years ago.
It's tough out there but you're smart to play it safe. You wouldn't get the nearly the same amenities with a house either.
Good video for those that need it.
Thanks! It's not an easy market.
I have a lot of coulda, woulda, shoulda when it comes to moving to Las Vegas. If I had only moved out there back around 2015...smh. That intro was dope. It had a little bit of Zach King going on.
Yeah I was in college, missed the boat 😅
There will never be a good time, to be honest. Mortgage rates will never get back down to 3 or 4% again. Homes values will keep skyrocketing. It’s hard to be a first time buyer.
We'll get there though. Soon enough.
Hey Jorge! I have some 2025 new construction builds in the SW all spect out for $397k and the builder is giving a 4.99 rate 3bed 3 bath 2 car garage smart home
Probably 1500 square feet with no yard and with grey laminate floors. That’s every new build
@ yes but lvp floor and all appliances included i.e washer dyer
I've seen some town homes like that! Honestly that'll be starting point.
@ yes, its off blue diamond rd & decatur. If you want a decent resale home in the 400k range, its gonna be in a lil north of summerlin off the 215 & Cheyenne. I listed one and got it sold 0 days on the market. My wife and I saw you at Durango , you were carrying a backpack with the camera stuff
Houses were so cheap out there 5-10 years ago. Snooze you lose
I was in college but yes, I lost haha
Shame on the Gov't for allowing this to happen. The American dream, yeah right. If you want to live in a house, and have kids, and lease a nice vehicle, and have cable tv/netflix subscription, and take vacations, and save for retirement, I don't even know how much that would require anymore, but it is out of reach for the majority of ppl that live in Vegas, especially for the hospitality workers. Shame on the Gov't for allowing this to get this way....
That is my goal to own a home but times r tough but it’s not impossible I think lol
We're on the same boat! We can do it!!
Jorge, I've built 3 homes...always been a fan of the Real Estate even though it is not my career field. Do Not but right now. It may take some time, but rates will come down below 6%. That will be the sweet spot.
Yes prices may go up, but dont listen to mortgage guys that tell you to "date the rate". (Refi's have fees and closing costs, its NOT free to refi you will need "cash to close" again)
Buy when rates are lower and you have more buyimg power.
You have a great head on your shoulder's. Too many people are "house poor" right now and make fantastic salaries. At the end of the day, its just a house. Stick to your plan, and all will work out.
LOVED this content!🔥
Thanks, appreciate the advice, I'm actually just waiting and saving moneyssss
thats true, the down pymt, the ability to qualify, then the monthly expenses.
We can overcome though!
@@Vegas-Must-Try am really think donnie will call the fed and tell em lower rates down again.
Hope to move there is a couple years. Why? Weather and number of restaurants. I hate cooking for myself.
You will be more than pleased with the options.
location and timing. im a middle aged man unable to afford to buy a decent home in my area. Inflation!
I know, it's insane!
🙌🙌
“ Not only Vegas, is an entertainment capital in the world, 🌎 … “ But also a Great, 👍 Food, 🍱 🥂☕️ capital in the world,🌎 !!!!!
🙌🙌
“ No matter how high, the housing markets are in Vegas, to me personally Vegas, is still affordable, $$$$$ No problemo !!!!!!!!! 🙌🙌 👍 👌😉
I'm glad you agree, it's a great city for food!
Just move to Asia or Eastern Europe. Thailand or Vietnam, $300/mo rent. Slow travel to many countries, much more exciting than being tied to your house. Of course, save first, invest and get online jobs and then slow travel.
Honestly, might be the move!
You are a smart man!!! 🫡
Definitely wait Jorge until the rates go down a bit….and hopefully your spouse has a job too. Double income can help with your math equations and getting a better home obviously 😊
She's fresh off the boat so can't work yet but once she does, it will open up more options!
@@Vegas-Must-Try Good luck to you both! I’m sure you’ll make it happen, there’s no rush in these uncertain times
Wow 😳
Thank you!
Bust out an efficiency in the backyard like Cubans do in Miami and Mexicans do in Cali 🤩get that mortgage paid for renting to a viejita.
I knoww that's gonna be the cheat code
You have to buy a house. In a few years, a $500k house will be worth $1 million. It pays for itself .
A few years?? lol
I actually think you're right. This is LA 2.0 in the future
@Vegas-Must-Try vegas is the cheapest large city west of the rockies and it's vegas!!!
The problem to what you’re saying is, you’re afraid to just suck it up for 3 or 4 years and give yourself a chance of actually making money, instead you choose to play it safe and rent and not even getting a shot of getting any money back or may be even making money. So many people been waiting for the housing market to crash and that’s why it will not happen anytime soon.
You're right, it will not crash (hopefully) but the opportunity cost that I currently have outweighs investing in the stock market at the moment. all of my investments have grown much higher in previous 2 years than if I were to have bought a home but I think this will flip soon!
Las Vegas Brandin Stephens
Yessir
Let’s move to Cedar city
Cheaper out there? I love vegas though
@ it’s two hours out. It’s a growing city and land is pretty cheap out there compared to here now.
You’re one of those that want real estate but always look for an excuse. You need to get into real estate any way possible. Imagine buying a property with a partner and both sharing the costs. Write a five year contract where either party can buy the other out sell the property or continue for another agreed amount of time. Or another way is buy in a lower priced area with enough down and rent the property to pay mortgage and rent a property you want to live in. To make money in real estate you have to jump in and sometimes bite the bullet on all the extras you spend money on Your young and real estate will always be going up. I owned 3 houses by the time I was 25. My own home and two rentals. I lived very sparsely and over time made money on every piece of property. Quit complaining and invest.
You're a gangster. Three houses by 25? Either that or your're an old guy buying three houses that young
@ again using an excuse about who had it better yes I’m older but I only made $8,000 a year as a beginning teacher. I couldn’t afford to play golf for a $1.50 and had to wait for twilight to play for $0.75 I bought my first house and discovered what the agent made so I studied and got my real estate license and went to work on the side using my commission towards buying property for myself and with a partner. My first home was bought at 7.75% rental at 10%. Sold property 12 years later in 1988 and bought above my means at 10% still on teachers salary at 10% Never had a lot of extra money but still enjoyed life. Later sold that home 10 years later at 50% profit bought another smaller home in the area for half the price of what I sold previous home then 12 years later sold that home for 100% profit sold that home and moved to Vegas two years later for half the price I sold my previous home. The entire time I owned property interest rates were 7.75% to 12%. No excuses.
@@thomasrichardson-ev1wp You sound like a hustler! Good job man!
I love Las Vegas!
It's the place the be right now
I always thought you already owned a house with a pool. Good luck in finding your future home it’s one of the best investments I’ve made so far
Why would you think that
I wish! It's a friends house that I rent. Really cheap by the way haha
@@Vegas-Must-Trykeep doing that for a few more years. Save your money and you will be able to get a house. Like someone else said, get a smaller house in a really good neighborhood. We all have too much stuff anyway. Im a senior now and trying to declutter and get rid of stuff. Great video.