Financing in Las Vegas>Question Details

benjones2, Home Buyer in Las Vegas, NV

I am a New Zealand investor. I can buy cash, but leverage makes sense. Possible?

Asked by benjones2, Las Vegas, NV Fri Oct 12, 2012

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18
DAVID COOPER 1.888.616.6226’s answer
If you are seriously looking for a realistic assessment of your credit qualifications for foreign investor and help with credit repair, I would email or phone for a private, no obligation consultation to
Sharon @Southern Fidelity Mortgage 702-862-6775

email http://www.Sharonmaylee@gmail.com
1 vote Thank Flag Link Fri Oct 12, 2012
Cash is king right now. I would recommend buying with cash and the refi once you own the property. The low inventory here combined with high demand makes it difficult for financing buyers in today's market. Use a clean cash offer to win the bid over these other financing buyer's then leverage by refi and then buy using cash again.

Please contact me if you would like to discuss this further.

Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
1 vote Thank Flag Link Wed Oct 17, 2012
Hello there,

If you have the cash then Las Vegas is the place to consider to buy investment properties. In our market Cash is King. With the amount of inventory we currently have, we are seeing multiple offers and cash is usually the one that gets a accepted offer. If you have any questions, you can conact me. Thank you and have a great day.

Son Olney
Cosmopolitan real Estate
702.810.1420
sonolney22@gmail.com
0 votes Thank Flag Link Thu Nov 15, 2012
No battle here. Simply stating I disagree.


Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Mon Oct 22, 2012
LV Property Search,
This is totally inaccurate and bad advice. Seller's would rather have a buyer with no financing contingency any day of the week. Cash IS king in Las Vegas right now.

"Cash is NOT king. Many banks want the loans more than they want to unload the property. Even if you are the highest bidder with cash, a bank would rather take a lower offer if they can get the loan."

Secondly, the below statement is also inaccurate. If a seller is to accept a financing offer above appraisal value they will require the financing buyer to waive their contingency to appraisal as well as their financing contingency so the deal does not fall apart when it come time to fund. OR they will just go with a cash buyer that does not require a loan or an appraisal. This goes back to CASH IS KING. Also, if you think you can buy homes below the comps in today's market in Las Vegas you will be wasting your time as well as your clients. Once a property hits the market in Vegas there is usually multiple offers that are above comp value.

"To get a loan, the property must be appraised by your lending institution. If your agent doesn’t do a good job finding you a property at or below market, you can cancel a typical deal as there is usually a contingency for the property to be appraised above the loan amount."

Demand is very high and inventory is very low in Vegas. Perhaps after the election or if banks start foreclosing again things will change but unfortunately that is not the case right now.

Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Mon Oct 22, 2012
Thanks for your point of view, Robert. :-)
Flag Mon Oct 22, 2012
Are you still interested in purchasing a property here in Las Vegas? Do you have an agent you are working with? If not please let myself and my team assist you. The best way to get started is to tell us about your specific scenario so we can put together an investment strategy that is perfect for your needs. the easiest way to get the info to us is by filling out our "Buyer's Form" here: http://lvrealestatehelp.weebly.com/buying-real-estate.html

Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Mon Oct 22, 2012
Hi New Zealand Investor,

I currently represent a chinese investor in their real estate investment and sales. Base on our experience, it is rather difficult to obtain loans for foreign nationals in the United States. Some hard money lenders might be willing to offer you a loan at higher interest rates.

Cash is probably the best way to go, especially in the Las Vegas market. There are many cash investors in town, and you might not get the property you like if you are not paying cash for it.

I will be happy to answer any further questions you have!

Best,
Cindy Sun
Real Estate Agent
Keller Williams Realty Southwest
Cell: 702-825-2555
Web Reference: http://www.cindysun.com
0 votes Thank Flag Link Tue Oct 16, 2012
Yes you can. The real estate industry in the US is quite regulated. That can be good and bad. As it relates to foreign investors, such as yourself when obtaining mortgage financing, there are a number of additional requirement that must be met. Working with a lender with experience is key. We can help with that, as we work with quite a few investors from Central and South America. Paying cash certainly works and can done quite easily with just a few additional disclosures. It really depends on what you are trying to achieve from an investment perspective.

We’d be happy help and put you in touch with your lender partners.

Best Wishes

Jeff Galindo
Broker Salesman
The New Home Pros
Simply Vegas
0 votes Thank Flag Link Fri Oct 12, 2012
benjones2:

I am a local Lender here in Las Vegas, NV...

Depending on the loan amount, I can do loans to Foreign Nationals (Investment properties). The good thing about it, it is not a Hard Money loan!

Give me a call so we can discuss your scenario and guide you to the right direction.

Eugene Prospero
Mortgage Consultant
All Western Mortgage
702.324.2377
0 votes Thank Flag Link Fri Oct 12, 2012
We currently manage just over 350 homes,condos,townhouses for our investor clients. We are not able to get you a loan so if you'd like to purchase income properties, land, or multi family here in Vegas we'd like to help you. We 've been in Vegas since 1976 and have hundred of happy clients. Please call any time after 8am if you'd like to interview us. Feel free using our web site which will give you access to our Multiple Listings which are updated minute by min. Thank you. Matt and Kim

Matthew and Kim D’Ercole
One Source Realty and Property Management
Las Vegas Nv.
Investor / Buyer Specialists
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes Thank Flag Link Fri Oct 12, 2012
Hello New Zealand investor. Leverage does make sense because the interest rates in the U.S. are so low, the problem is that I do not think you can get a loan. I spoke with a loan officer before I responded and she said that it is almost impossible to get a loan for foreign investors, no matter how much money you put down. Even if you were able to get a loan, the existing low rates would not apply to you because of you being a foreign investor. Because of lack of inventory here in Las Vegas, cash is king and sellers prefer cash offers. You would have a better chance of getting your offer accepted if it is cash although we have many, many buyers with cash.
0 votes Thank Flag Link Fri Oct 12, 2012
Yes. Loans for Foreign nationals are possible. What price range are you buying, so I know which plan to look at for you?

David

david@usmtgs.com
0 votes Thank Flag Link Fri Oct 12, 2012
around 100k
Flag Fri Oct 12, 2012
For a Foreign Investor in Nevada, a Limited Liability Company (LLC) is a recommended entity for both investing in and holding long term investments in real estate. There is no other way I am aware of to finance an investment property in Nevada, other than a hard money loan.
0 votes Thank Flag Link Fri Oct 12, 2012
The financing for out of country investor will be very hard, close to impossible...There is another reason to consider if you have funds to buy cash, our inventory is very low, demand is huge, for every property there are multiple offers and always the first choice of every Seller and listing agent will be the cash offer. You will be in advanced positions submitting cash offers...

Adriana Samardjieva
Realty One Group
Cell 702-275-6833
Email: asamardjieva@yahoo.com
0 votes Thank Flag Link Fri Oct 12, 2012
Also happy with Hard Money, just need the right contacts
0 votes Thank Flag Link Fri Oct 12, 2012
Hello Ben Jones/New Zealand,

Something else to consider is the weight of a Cash offer versus an offer with a Loan when a Seller is selecting a buyer.

If you have the ability to pay cash, you will have more chance in getting an offer accepted. A great majority of the buyers right now are paying with Cash and that is your competition.

If you are interested in investing in Las Vegas and wish to consider different avenues to be profitable, feel free to contact me by email and I will share some ways that my clients are profiting.

Have a Great Day!

Leah Soares
Prominent Realty Group
Your Personal Real Estate Team
VegasHomes411@gmail.com
0 votes Thank Flag Link Fri Oct 12, 2012
Hi Ben,

feel free to contact me directly . .
Greetings to Wellington from Las Vegas!

Warmest regards,

DENNY HEBIBOVICH - REALTOR
REALTY ONE GROUP, INC.
8363 W SUNSET RD #100
LAS VEGAS, NV 89113

CELL: 702-241-6110
EFAX: 702-920-8775
EMAIL: Denny@PropertiesofLasVegas.com
WEB: http://www.PropertiesofLasVegas.com
WEB: http://www.IMMOBEL.com/LasVegasNevadaUSA/
WEB: http://awp208099.las.mlxchange.com
0 votes Thank Flag Link Fri Oct 12, 2012
Sometimes it is possible. It is, however, extremely difficult to get qualified for a mortgage as a foreign investor. You need to have a US bank account among other things.
0 votes Thank Flag Link Fri Oct 12, 2012
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