Century 21 agent touts local market

     Las Vegas continues to be a sought-after market for real estate investors because of its growth in recent years, according to Mark Lefkowitz, who heads the commercial department at Century 21 MoneyWorld.
      "Company headquarters, distribution operations and manufacturing plants are expanding into Las Vegas in increasing numbers," he said. "In addition, the huge influx of new residents because of our diverse economy, good weather and reasonable cost of living leads to more construction, and that draws investors."
      According to Lefkowitz, land is easy to manage and doesn't require investors to worry about tenants, rents or other responsibilities.
      "Investors hope the property will appreciate more than the cost of holding it, since property can incur expenses like real estate taxes, debt service and the cost of money to fund the down payment," he said. "Sometimes the county may assess the property owner for road improvements through a Special Improvement District (SID)."
      Lefkowitz' partner, David Abraham, focuses on income property, which includes shopping centers, industrial buildings and apartment complexes.
      "To determine if this type of investment is a good one you have to calculate the net money collected by the landlord or owner at the end of the year as compared to the purchase price of the property, plus any other capital outlays," Abraham said.
      "An experienced Realtor can chart rates of return and determine if they are reasonable by factoring in issues like length of leases, strength of the tenants, tax consequences, future appreciation, mortgage amortization and risk.
      "A property purchased for $300,000, with $100,000 as a down payment, means that 10 investors can put down $10,000 each for the down payment, pay $200 per month and own 10 percent, or 10 of the allocated 100 shares of stock, in the company."
      Lefkowitz said investors should consult Realtors who specialize in commercial real estate and investing when searching for land or income property. "A qualified agent can help with intelligent decisions to create income and equity," he said.

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