I am buying a condo in las vegas TRUMP LAS VEGAS? SHOULD I CANCEL IT??

Question

I am buying a condo in las vegas TRUMP LAS VEGAS? SHOULD I CANCEL IT??

Answer 1

Law suits galore going on at the Trump by people who bought and are suing The Trump. Seems they don't like his rules among other things. I would research it real quick. Hope you didn't buy it as an investment to rent out. Seems that is where all the high rise condo places are running into trouble and law suits. MGM is having the same problems.

Answer 2

I would.  Trump has lied to everyone regarding his stupid project that looks like Mandalay Bay.  He said he was almost sold out, then last week we learn that the second tower is cancelled because not enough condos were sold.

Trump is not liked or wanted in Vegas.  This is a Steve Wynn town. And we all love Steve.

Answer 3

no , go ahead and buy one  

Answer 4

No go for it you must have taken advice before you put down your deposit why the cold feet? Will you be living in it or renting it?  

Answer 5

If you want it and it's worth it to you, then go for it.  Just make sure are buying it because you want to own it and use it, because nowadays this is definitely a PURCHASE, just like a new car or TV.  It's not an investment opportunity in any way and you will not get back the money you put into it.

Answer 6

If you can afford it, why not.  Just know that it is NOT next to any casinos and it does not look like Echelon will be built with the next few years (started and stopped due to lending industry).  

Answer 7

These two projects opened up about a month apart. Palms Place does not have a casino, but it is connected by walkway to "The Palms" which has a casino.

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The Palms Place project and the Trump Las Vegas cost similar amount of money, but the Trump has twice as many units.

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Palms Place, 29-Feb-08, 599 units, $650 million

Trump, 31-Mar-08, 1,282 units, $600 million

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I don't like the location of the Trump. The Plaza Hotel project next door is likely to take years to build, so it is going to be near a vacant lot for years.

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Subdivision: Palms Place Las Vegas

Square Footage: 1220

Bedrooms: 1

Bathrooms: 1.5

Parking: Valet

Year Built: 2008

Agent Name: Lauren Stark

Broker: Elite Realty

MLS #: 806721

Asking Price: $1,050,000

Flexibility: Negotiable

Homeowner Dues: 1108/mo

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You got to figure your mortgage and fees are going to be close to $2K per week. You have some tax deductions, but how much can these properties increase in value? You are competing with almost 100,000 hotel rooms near the strip that can drop their value in a heart beat. Here is a nice 1 bedroom at MGM Signature that is renting for $900 per week. How much time will you spend in Vegas?

Answer 8

Not if you can afford it & you like it!