Having cash does help, because many Realtors would rather accept a cash offer rather than a financed offer, because there are so many more steps when financing is involved rather than a relatively simple cash deal. In addition, it is difficult although not impossible for a foreigner to obtain financing so cash does come in handy. We have done deals for Canadians and Australians so we know what to expect when it comes to foreign investors and vesting. Contact me at the email address listed below, and I can also send you more documents and information when it comes to foreign investors.
Our real estate company, Realty Executives of Nevada, manages property. We are a trusted name brand company and are one of the top brokerages in Nevada, with our real estate team earning many awards.
The average rents in Summerlin and Henderson/Green Valley are about $0.60-0.70 cents per square foot. If the house has added amenities, such as a bedroom downstairs or a three car garage or is in a nicer neighborhood, this affects the rents along with the marketability of the property. Of course homes with more bedrooms and square footage are more desirable. A pool usually adds about $100-150 to rents, however there may be more headaches with a pool involved. You should at least buy a home with a 2 car garage and 3 bedrooms. If you would like to know more about our property management program, I have information on my website listed below.
Another way to obtain Cash Flow and recommended by Author Robert Kiyosaki of the book Rich Dad Poor Dad, is to buy quadplexes or 4 home units attached. Usually you can find homes like these for under $150-200k and you can rent each unit for $650-$800 a month. This beats any home rental, however some of these properties are in less desirable neighborhoods and some are in better neighborhoods. What Robert Kiyosaki states is that when one unit is empty at least you do not have 100% vacancy rate as you do with a home, but 25% vacancy rate and can upgrade that vacant unit with paint or new carpeting and raise the rents on the next tenant.
The best areas for rentals are the areas that are close to the strip or along a freeway so there is easy access to get to the strip where most people work, so maybe Southwest, Henderson, Summerlin, Green Valley, or along the Summerlin Parkway and I-95. Some people also purchase out near Nellis Air Force Base.
The first step is to narrow down your search criteria to the location, size of home, bedrooms, bathrooms, garages, etc. Then find a house that you like. Once you find the house that you like, we can help you by pulling the rental rates in that community and also how much homes in that neighborhood usually sell for. This way you can find your rate of return. Once you have narrowed down the home, our Buyerâ€™s Agents can go and videotape the property for you, so you do not have to fly down here.
Do not wait too long, because as recent Las Vegas news articles have shown, home sales in Las Vegas have been picking up with prices remaining stable. Many desirable homes have multiple bidders and are snapped up almost immediately.
In addition, if you are purchasing in cash, we have a team of people who can assist you at the Trustee's Auction so you can purchase this or similar properties for about 20% less than market values.
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Attorney, Broker-Salesman, Realtor
Realty Executives of Nevada
The Van Group