Update: Trump Tower One

The New Trump Tower luxury condo-hotel is one step closer to completion. Trump and his new Apprentice winner were in town as they hoisted the American flag to the top, which topped off tower 1.

The tower is 64 stories tall, the largest residential building in Nevada. The building is scheduled for completion for 2008.

There are several high rise projects going up in Las Vegas. Trump expressed the risks involved in today's market. Surprisingly, Trump and multiple of the other projects have had units sell at decent rates. As the buildings draw near completion it will be exciting to watch the units close escrow.

One thing for investors to consider: there will be many units on the market at the time of close so selling as soon as possible may not bring an initial profit. Plan to hold the units for some time. Get in touch with a Las Vegas Realtor who knows the market before jumping in.