Timothy L Be…, Home Buyer in Sparks, NV

i have $300.000 cash to invest in apts is it good ideal to buy in the las vegas area/nevada

Asked by Timothy L Bennett, Sparks, NV Thu Apr 7, 2011

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How about an investment package? Title of these properties are held in the name of your LLC or LLP. You decide who the managing directors are. With investment packages, your funds are held in an escrow account of your choosing and released in these sequences as you approve them. You get full accounting of each transaction. http://ifindproperties2.fmgateway.com/investors/investment-p…
1 vote Thank Flag Link Tue Jul 17, 2012
Cap rates for multi-family units in Las Vegas are closing in on cap rates for single family units with a straight lease. We have not seen any multi-family units that come close to SFRs under $100k that have a lease/option tenant. Lease/option tenants in SFRs under $100k generally have cap rates approaching 15%. We will be happy to furnish you with case studies. http://lvpropertysearch.com/category/las-vegas-investment-homes
0 votes Thank Flag Link Tue Jul 17, 2012
My property manager is getting $500 to $550 a month rent on 1 bedroom condos that can be purchased for under $32,000. So an investment in 4 one bedroom comdo's will gross rent at $2000 a month. If you keep the HOA below $100 a month on each unit, you get more net rent, and a better tennant with 4 condos that a 4 unit building

David Cooper Las Vegaqs Foreclosure Investor In Bank Owned REOs with Cash Flow. email or call for FREE
daily LIST +1-7024997037 not a real estate investor
0 votes Thank Flag Link Mon Apr 25, 2011
I will be very short... YES. ROI is excellent right now. It may not be a property you want to live in... but you can get excellent ROI right now in Las Vegas, North Las Vegas.
0 votes Thank Flag Link Mon Apr 25, 2011
When weighing purchasing condos vs single family residences, don't forget to consider the HOA factor. The HOA fees for condos can often be very high, cutting into your cash flow. A $40K condo could cost up to $150 per month in HOA fees alone. Make sure you find out what those fees are when making your analysis!
0 votes Thank Flag Link Sat Apr 16, 2011
What was the asking price of a 2bed +2 bath condo WITHOUT a garage? There must be some kind of parking
to pass zoning laws. Might be a great investment. Are there any more available

David Cooper Las Vegas Foreclosure Investor in Bank Owned REOs with Cash Flow +1-7024997037
0 votes Thank Flag Link Tue Apr 12, 2011
Hi Timothy,

I have one investor that has purchased 20 condo units in the SW.. I call him the monopoly buyer. He is purchasing estimated 1000 st. condo units, two bedroom and two bath units. No garage.

It's a great time to buy in Las Vegas.

Penny O'Brien with Simply Vegas
0 votes Thank Flag Link Mon Apr 11, 2011
Las Vegas SOLDS on SFR were overr 3300 for the month of March. The best March in 5 years. I have been investing here in Las Vegas and this is the time for all bottom feeders to get into action. I project 4 houses of $100,000 in the Top Ten Neighborhoods will get you immediate cash flow and appreciation of 25% conservatively in 5 years. No apartment building has that upward appreciation potention

.....Las Vegas Foreclosure Investor Bank Owned REO;s with Cash Flow . 35 years experience.-
- David Cooper +1-7024997037 for serious investors only not a real estate agent
0 votes Thank Flag Link Sun Apr 10, 2011
Hello Timothy... Have you ever thought about investing the $300K in buying 4 or 5 properties at the auction on the courthouse steps?.. then turning around and then flipping them in 60 to 90 days for a 12% to 25% profit? If you want to find about this unbelievable opportunity from an agent/investor who's doing it personally and also working with other investors that are making $$$.. please contact me at 702-768-8444 or email me at monkboyer@realtyexecutives.com.

Thank you for your business,

Monk Boyer, CSP, CFAC, GRI
Realty Executive of Nevada
1903 S. Jones, Ste. 100
Las Vegas, NV 89146
Cell (702)-768-8444
EFax (702)-968-8685
Web Reference: http://www.monkboyer.com
0 votes Thank Flag Link Sat Apr 9, 2011
Do you think a 15/20% cash flow plus long term appreciation is a good way to invest your money? If so, the answer is YES! Las Vegas Real Estate is the best place where to invest your money. You can purchase properties that you can rent for up to $ 900 monthly rent, in decent areas of town and for less than K35/40. Do the math yourself and, if interest, give me a call direct at (702) 528-6422. I will be more than happy to share with you how I make that kind of return on my own investment property.

0 votes Thank Flag Link Fri Apr 8, 2011
There are 6400 Bank Owned REO's in Las Vegas and only 1400 are in the MLS. I subscrive to a private Foreclosure reporting service that gives addresses to every foreclosure in the default, auction, and REO stage.
I would think your $300,000 would give you a greater return buying 4 large 2+2 condo's in upscale neighborhoods like Summerlin. The one's I am thinking about Sold for $215,000 just 4 years ago, and our property manager is obtaining quality tennants at excellant rents. I have compared rent returns of a 4 plex vs. those of 4 seperate condo's and get newer units, more rent with the condo's,better tennants, less turnover, less maintenance, plus a much better chance for appreciation.
Of course, the condo's need a first class property management company that makes it a turn-key operation.
Questions? email or phone for free list

David Cooper. Las Vegas Forclosure Investor in Bank Owned REO's with Cash Flow. Call +1-7024997037
not a real estate agent
0 votes Thank Flag Link Fri Apr 8, 2011
Hi Timothy,

It is absolutely the worst time to buy in Las Vegas. Unless of course you want to make it hand over fist and take advantage of the most fantastic buyer's market in the past several decades! All kidding aside, Las Vegas real estate it is about the best possible place to get the highest return on your investment.

There are many opportunities to choose from. If you like multi family or single family you can't go wrong. However, like some of colleagues have mentioned, multi family properties might come with some deferred maintenance issues that could reduce your profits. Plus they bring more apartment style tenants that tend to be more transient.

Here are my thoughts on this. Since investors are finally able to get positive cash flow, something that has been rare in the past ten years, why not invest in something that is easy to rent and easy to maintain? I would suggest single family homes.

There is a huge market for 3 or 4 bedroom homes since there are many good, hard working people that may have lost a house to foreclosure or had a short sale that just came from a similar property.. It doesn't mean they will be a bad tenant. I fact, most likely, just the opposite. They are used to home ownership and are used to taking care of things. Plus they need a yard, garage, and several bedrooms. They still have all their stuff from being a homeowner. Additionally, they won't be as transient as the multi family tenants. They need to stay put, rebuild their credit and then try to buy later. On average, this will take at least two years.

As far as deferred maintenance, we can find you someting that is fairly new so the roof and systems are not in need of repair. You can put a home warranty on the property to add limited protection and help to defer any big ticket items.

Once things turn around, statistically, single family homes appreciated at a faster rate than , condos, townhouses, or multi family. So investing in 2 or 3 single family homes, low maintenance, more stability with a tenant, and potentially the fastest rate of appreciation all make for a great opportunity for you.

Some people, other investors or agents, might disagree with this which is fine. This is my opinion and I think I bring up some valid points that could benifit you.

So again, in answer to you question, it is a terrible time to buy, unless everything that you just read above makes sense to you. I have been selling real estate in Las Vegas since 1989 and have been a life long member of this community. Take a chance on me and give me a call. I work directly with you. You will not be passed on to a team member. Straight communication, me and you. Call me anytime at 702-889-8922. I look forward to helping you reach your goals.

Doug Sawyer, Broker/Salesman
CFAC (Certified Foreclosure Alternate Consultant)
CRS (Certified Residential Specialist)
GRI (Graduate Realtor Institute)
Realty Executives of NV
0 votes Thank Flag Link Fri Apr 8, 2011
Hello Timothy,
I have an apartment building all rented. If interested please contact me to discuss. I will send you the information.
Kind Regards,
0 votes Thank Flag Link Fri Apr 8, 2011
Hello Timothy,
like all the other Agents stated, it is a perfect time to invest in Las Vegas real estate. With so many foreclosures rents are at a premium. You may want to interview several Agents to make sure you have the Realtor that will be the right one for you and will meet all your real estate needs. If you have addidional questions please contact me.

Mike Yarbrough
E-mail: yarbroughm1@cox.net
0 votes Thank Flag Link Thu Apr 7, 2011
Mr. Bennett
Great question. Las Vegas is an investors paradise in the current market. I am set up to purchase at the foreclosure auction. I can supply a spreadsheet with all the daily auction activity. There is a team of professionals doing the comparative analysis every night for the next days auction. The team is set up so they can drive the auction properties within 10 minutes to get the information needed to help make a decision. There are rehab crews available with a proven track record or you may choose to use their own. You may want to flip the properties and turn your money over several times a year. Our team of professionals can help you with buy and flip or buy and hold. Our team is showing some great results. Give me a call and lets discuss more of the details.
Thank You
Suzie Marquardt / David Fahrny
Realty One Group
0 votes Thank Flag Link Thu Apr 7, 2011
It is a great time , because of all the foreclosures in LV, it brought a big demand for rentals. I also have a lot of experience working with investors and our office has an onsite property management company. I can also show you how to save money without hiring a property manager. Please feel free to contact me any time by calling 702-239-6900 or email me at Rhondasellsvegas@gmail.com
0 votes Thank Flag Link Thu Apr 7, 2011
Yes, It is a great time to buy. Prices are low. However, I think you would be better off buying several small homes rather than apartments. There is a high maintenance fee for most apartments. That fee cuts into your profits. You can get some little homes for $79,000+- each. Most of the 4 plexees or 8 plexes around town are quite old and in need of a lot of maintenance. A few small homes that are in good condition can give you quite a nice income. Myra Gouger / Realty ONE Group / 702-858-9311 / myra_gouger@yahoo.com / http://www.nevadahomesdirect.com
0 votes Thank Flag Link Thu Apr 7, 2011
Timothy, please gime me your email address, I want to send you some listings so you can answer to yourself if would be good idea to invest in Vegas.

Prudential Americana
0 votes Thank Flag Link Thu Apr 7, 2011
Yes! I have several quadraplexes going for $150,000 each- they are currently rented AND cash flowing. E-mail me at CreateLuckLasVegas@hotmail.com if you'd like details, rent rolls, etc.
0 votes Thank Flag Link Thu Apr 7, 2011
Hi Timothy,
Yes! It is the perfect time to invest in Las Vegas real estate! There are great deals to be had and cash is king, as they say. I would love to dicuss your options and expectations and help you find the right properties. I have a lot of experience in working with investors and investment properties. My company also offers property management services to help you after the purchase(s). Please call me directly.
Russell Arnold
(702) 501 2992
Innovative Real Estate
0 votes Thank Flag Link Thu Apr 7, 2011
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