Kevin Chu and his colleague Christian Santika work for the Hong Kong office of The Creations Group, an international investment firm that is buying up distressed properties in several U.S. cities, including Las Vegas.
LAS VEGAS — The unending rash of foreclosures and falling home prices in Las Vegas continues to cause despair. But the same housing crisis is causing some investors to see opportunity. Home prices have dropped to 1990s levels, and many homes in the area are selling for below the amount it would cost to build them.
In fact, these Las Vegas homes are getting noticed from buyers all over the world.
Kevin Chu recently toured Las Vegas for the first time to check on his investment firm’s properties.
The block of Fremont Street just east of Las Vegas Boulevard is arguably the most vibrant part of the downtown neighborhood. In the past few years, a string of hip bars and an independent coffee house have cropped up and become popular hangouts for locals