When buying an investment house in $45-$70k range, is seller financing available? We have a large down payment.

Asked by Charlotte Michalek, Los Angeles, CA Mon Nov 19, 2012

We would like to communicate with a realtor who has experience in this area about where to buy for best rental opportunities.

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6
Matthew D'Er…, Agent, Las Vegas, NV
Mon Nov 19, 2012
1. Owner financing is available but the seller will raise the price of the home by 10 to 20% becuase they are preying on what they see as desparate people. If you go this route you're giving up any profit or "appreciation" you'd be making for the first year or two depending if the market keeps going up like it has been.
2. The other problem with condos/townhomes is the possibility of litigation/law suits between HOA and Bulder which is a real problem here because eveyone is lawsuit happy.
3. We manage just over 350 properties for our investors so I have a lot of experience with what you're concerned about so please call me and I can share more over the phone.
4. HOA fees can be out of site high which reduces the profit you would make so buying a single family home is the better investment if you can come up with a little more money???
5. We charge 8% for Property Magagement Services if you want it. My advice is free if you manage it your self. Thanks, Matt

Matthew D’Ercole
Prominent Realty Group, LLC
Buyer / Seller / Property Management
Cell - 702.501.0973
"A Nation of Sheep Breeds a Government of Wolves".
Website - http://matthewsellslasvegas.las.mlxchange.com
2 votes
Wendi Willia…, Agent, Las Vegas, NV
Mon Nov 19, 2012
Hello, Charlotte Michalek.

If you haven't already found what you were looking for, give us a call anytime. Whether you utilize our services or not, we do recommend looking at single family homes between 70-100k with less than 10k worth of repairs...in neighborhoods that are REALLY RIPE for tenant activity (vacancy waiting on a tenant can eat you ALIVE). Take a look at what we have here:

http://ifindproperties2.fmgateway.com/ifind/investor_search_…

--- Or use our MLS Integrated Webpage to view ALL CURRENT AVAILABLE homes in the Las Vegas Metropolitan Area:

http://lvpropertysearch.com/single-family.html

From what I have seen, we are actually the only brokerage here in Las Vegas that give you all this information up front before you even visit the properties. Our website features all of the major needed criteria, and much more.

We manage over 300+ properties with about 25-30 currently vacant (less than a 10% vacancy rate at any given moment). Some are rentals, but most of our investors choose "Lease/Option."

What does this mean?

It means that we have a system for finding tenants that enables us to keep our investors smiling. Not only do we lead the competition in filling rentals, but investors who participate in the "lease/option to buy program" typically bring in an additional 3-5% premium monthly, while giving them the opportunity to resell the property to a potential tenant/buyer in a 2-3 year period...PLUS collect a down payment on the property when the tenant moves in. Cha-Ching! A DOUBLE HITTER!

http://lvpropertysearch.com/category/las-vegas-rent-to-own-homes

Check out the video below on what we do and how well we do it (let's keep "how" we do it between us). I am certain you will be more than impressed with the way we do things. We are full circle, Charlotte.

Not only do we handle the acquisition of the property but; we do the rehab, find the tenants/buyers, deal with the property management issues, and take care of any eviction or court proceedings when necessary.

http://lvpropertysearch.com/landlord-videos

Newbie investor? No problem...we walk you through each and every step of the process, giving you sound advice along the way. Our rehabs jobs even come standard with photos and video of your home's progress.

Are you ready?

I tell you what, simply visit our website for yourself. You be the judge:

http://lvpropertysearch.com/las-vegas-foreclosure-search-engine

Give us a buzz when you're done...thanks for your inquiry! ;-)

TO YOUR SUCCESS...

Advice courtesy of:
Limestone Investments, LLC.
LV Property Search
Info@LVPropertySearch.com
(702) 619-6214
1 vote
Myra Gouger, Agent, Las Vegas, NV
Mon Nov 19, 2012
I don't think too many investment homes are available in that price range any more. They did exist once back in 2009, but if you find a home in that price nowadays, it is usually trashed and you have to build it from the inside out.

As regards the financing, almost all of our buyers in all price ranges pay cash for homes in Las Vegas. Most of the time a bank won't loan money for a mortgage with lower than $65,000 as the mortgage amount. If you can find a bank to loan below this sum, then you might have to pay very high interest rates. So, to answer your question: if it is available, yes. If you can get it, No. Find a more expensive property so that you can get a mortgage and not have to pay thousands to fix up the property.
1 vote
Michael Diaz, Mortgage Broker Or Lender, Las Vegas, NV
Wed Nov 21, 2012
I am a mortgage guy in the area. If you cant find seller financing Ican do investment properties with as little as 20% down. If income is an issue we can do loans based off of assets and possibly bank statements. I fyou need something just reach out to me.
0 votes
I started working with someone who works with our realtor, but may I ask you this: We had a foreclosure 2.5 years ago on a defective investment condo. Our credit has recovered and we have income. Can you work with that scenario? Thank you.
Flag Sat Nov 24, 2012
Suzie Marqua…, Agent, Las Vegas, NV
Mon Nov 19, 2012
I have not seen much seller financing in the current market. It is probably out there but not common. I can set up a search for you to see what is available. Just send your criteria and we can take a look. If you are looking in that price range you are need to be prepared to do repairs. I am always available to answer your questions.
Thank You
Suzie Marquardt
http://www.FastNevadaShortSales.com
0 votes
Jeff Wallenf…, , Las Vegas, NV
Mon Nov 19, 2012
It's very rare and you should not count on doing this. Only a few hundred homes a year sell in Vegas with seller financing. That's in all price ranges. You'll find that in your price range, there are a lot of short sales and foreclosures -- and those sellers are not able to do seller financing.
0 votes
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