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Lake Las Vegas - Best Place to Invest, Worst Place to Invest, or somewhere in between?
Recently, I posted a response disagreeing with another agent who stated: 
"As for where to invest here, specifically, there are 2 areas I believe that will be most profitable: 1) property that generates income, purchased at a time when values are depressed (in almost any area, given how transient our work force is) and 2) property in one of - if not the most - exclusive addresses of our metro area, Lake Las Vegas."
I don't think anyone would disagree with #1, but I did not agree with making such a claim about Lake Las Vegas without mentioning some red flags I've seen lately about the community:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Bankruptcy Judge Linda Riegle said she will sign an order today approving $127 million in post-bankruptcy financing for Lake Las Vegas. from the LVRJ on 8/5/08 - http://www.lvrj.com/business/26274484.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~"At 10 a.m., a single player had the tables to himself at Casino MonteLago. The nine other people in the 40,000-square-foot casino confined themselves to the slots. On the XM satellite radio station piped into the casino, Don Henley began to sing: Empty lake, Empty streetsThe sun goes down alone. Outside, MonteLago Village was a ghost town of boutiques, coffee shops and high-end eateries." from the LVRJ on 8/3/08 - http://www.lvrj.com/news/26219079.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~"Bankrupt Lake Las Vegas is ... more

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