Canadian Investor with 100k Cash looking for best investing.

Asked by H. Chan, Las Vegas, Las Vegas, NV Tue Jun 12, 2012

Have 100k cash on hand(not sure if wanting to spend it all), looking to invest in some income properties for medium to long term.

Few questions.

1) Is it better to purchase more and cheaper properties to maximize returns or would a higher priced unit be better?

2) Is it possible for a Canadian to get a mortgage in the USA, and if yes, what would the prerequisites be?

Thanks!

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Answers

14
Paul Arroyo, Agent, Las Vegas, NV
Thu Dec 6, 2012
Hello H Chan

Alot of people buy homes at the auction here in town. i would be happy to share
more information with you. Send me your contact informaion
Paul Arroyo
Haines&Krieger Realty
702-768-2931
paul.arroyo@hkrealtygroup.com
0 votes
Maria Leszcz…, Agent, LAS VEGAS, NV
Wed Dec 5, 2012
YOU CAN BUY BRAND NEW HOUSE FOR $200K WITH
30% DOWN , BUILDER WILL PAY CLOSING COSTS .
SO YOU SPEND $60K YOUR MORTGAGE FROM $140K WILL BE WITH TAXES AND INSURANCE AROUND $1000 AND YOU CAN GET RENT $1400-1500 /M
YOU CAN GET EASY $5000 PER YEAR FROM YOUR $60,000 INVESTMENT + AFTER FEW YEARS YOU WILL GET EQUITY ON YOUR HOME.
NEW HOUSE IS UNDER WARRANTY SO YOU DO NOT HAVE TO SPEND MONEY FIXING.

OR YOU CAN BUY SOME NICE CONDO 3 BR WITH GARAGE UNDER $100K CASH
RENT WILL BE $950 HOA DUES $200,TAXES AROUND $600/Y YOU WILL GET ALSO AROUND $5000-6000 PER YEAR INCOME

PRICES FOR HOUSES WILL GO UP MORE OVER THE YEARS- YOU WILL MAKE MORE MONEY
ON MORE EXPENSE PROPERTY.
0 votes
David Cooper, Agent, Los Angeles, CA
Tue Dec 4, 2012
H Chan, I hope you invested your money in June, 2012 because the prices on investment houses are way up. Still room for profit, but competition is fierce.

David Cooper Investor
http://www.lasvegaswinner.org
0 votes
Maria Leszcz…, Agent, LAS VEGAS, NV
Tue Dec 4, 2012
I WILL BE HAPPY TO HELP YOU WITH YOUR INVESTMENT IN LAS VEGAS
10 YEARS IN BUSINESS, I WORK FOR REALTY ONE GROUP- WE ARE THE BIGEST COMPANY IN NEVADA. YOU CAN GET A LOAN IN USA WITH 30% DOWN. I SOLD SO MANY HOMES TO CANADIANS FROM VANCUVER AND TORONTO.

CALL ME MARIA LESZCZYNSKA
REALTY ONE GROUP
702-524-4729

SPEEK ENGLISH, POLISH AND LITTLE RUSSIAN
0 votes
Wendi Willia…, Agent, Las Vegas, NV
Tue Jul 17, 2012
As of 2/6/12 there is none available but you can get financing from nearly any Canadian lending institution. You should start with the lender who is carrying the note on your primary home.

Some clever Canadians have purchased homes as a 2nd home and then made them available for renting. HOWEVER, if you do this within 6 months of purchasing a second home, your lender could call the note. Be careful. If you add yourself to our distribution list, you will be notified the moment we can find some for you.

Property Taxes: Are paid twice a year and the amounts are shown on the properties that have on our web site. Canadians do not pay any more or less than a US citizen. You should consult with your Canadian CPA before you invest. Tax laws change frequently AND your circumstances may be different. http://lvpropertysearch.com/category/las-vegas-investment-homes
0 votes
Richy, Agent, NV,
Sun Jul 8, 2012
1) It depends on your purpose and your capacity to buy. For me, if I don't have much money I will buy a cheaper house and pay partially and loan partially so that I will have some more money in case of emergency or if there is something to spend for the house like necessary repairs or improvements.

2) I have seen a bank advertisement giving loans to Canadians. Call or text me for more info -- 702 413 2452 ---- Ric
0 votes
gbsresfix, , Las Vegas, NV
Mon Jun 18, 2012
With patience, one could take 100K, swim far away from the sharks, diligently find wholesale homes at 54Km and still turn them into 112K, and never deal with the headaches of long term expenses, takes patience and time...You know this already as you are from the honorable north, take your time, as it is being done. 100K cash is gold if used properly. It really depends upon on the network you get in contact with. If you are new, the expenses of that investment can topple you in a heartbeat. Todays market is incredible, and defeating at the same time. Shop with care, and research, research, research....Gary
0 votes
James Bellile, Agent, Las Vegas, NV
Thu Jun 14, 2012
Hello,

Here are the answers to your questions:

1) You are just spreading the risk out by buying more properties. At that price range, currently, you will be paying significantly more in closing costs and per interior square foot/lot size if you buy 2 smaller properties. In my opinion, I'd buy only one property if you only have 100K.

2) Yes. Starting at 30%-35% down payment.


Sincerely,


James Bellile
iProperties International
http://www.LasVegasRealEstateConnection.com
702-222-0815
0 votes
David Cooper, Agent, Los Angeles, CA
Tue Jun 12, 2012
That $100,000 can get you a pretty decent foreclosure, 3+2 in a good neighborhood with $1200-$1300 Cash Flow and GOOD chance for appreciation. But that low end market is investor active, and that price point will be gone in days. Check out the research blog on low inventory in Las Vegas because homes upside down with negative equity are not for sale.


David Cooper Investor with a Buyers Agent License at Since 1917 Realty 702-499-7037
0 votes
Rob Flitton, Agent, Huntington Beach, CA
Tue Jun 12, 2012
Hi - I AM Canadian and have successfully negotiated numerous stellar deals for fellow Canadians here in Vegas - and gotten them financing. Please get in touch through my website robflitton dot com - or email me robflitton at gmail
0 votes
Piccoli Group, , Las Vegas, Las Vegas, NV
Tue Jun 12, 2012
Great questions! You will get different answers not only from different Realtors, but from different investors. Some investors like the single family homes, other like condos/townhomes b/c of maintenance. Others are going after 4-plex properties.

All in all, any investment in Las Vegas real estate is a good one. They key is to find a Realtor that can get the offer accepted for you. That is the biggest challenge; so many homes are getting multiple offers over list price.

The Piccoli Group has a strong reputation in getting the homes for their clients. We have experience with out of state and out of country investors. Feel free to call us anytime.

The Piccoli Group
702-873-7400 ext.143
piccoligroup@yahoo.com
0 votes
Raina Musser, Both Buyer And Seller, Las Vegas, NV
Tue Jun 12, 2012
I agree with Myra, if you can get a mortgage, use for down and/or to pay difference in appraisal if needed. Being able to pay the difference between the appraisal and offer price is an edge in the market right now! Thank you for posting. Raina Musser
0 votes
Matthew D'Er…, Agent, Las Vegas, NV
Tue Jun 12, 2012
My wife and I manage over 350 homes/condos/townhouses in Vegas. We've been here since 1976. We specialize working with the buyers/investors/renters every single day. There are not a lot of single family under 100k but we can get you financed through traditional and private sources. You can either purchase two condos for 50k or a nice single family. The condos will have HOA fees from 100 to 200 per month and the single family will not. It is better to go with the single family. Condos have history of law suits for construction defects which is very risky. Please call so we can share with you our business model we use with our investors/buyers. We can get you financed.
Thanks, Kim and Matt

Matthew D’Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes
Myra Gouger, Agent, Las Vegas, NV
Tue Jun 12, 2012
I have a source where Canadians can get mortgages. He is the only source I know that is doing mortgages for foreign nationals. The $100,000 market is almost non-existent any more. It is better to use this money as a downpayment and get a better property. Most properties in nice neighborhoods are renting rather quickly right now. Myra Gouger / Realty ONE Group / 702-858-9311 / myra_gouger@yahoo.com / http://www.nevadahomesdirect.com
0 votes
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