Friday, June 20, 2008

How To Invest In Las Vegas Foreclosures

Identifying A Investment Property

So after weeks or months after doing all your homework you have identified a property(s) in your price range that you would like to purchase. The next question you will ask is, "How much will it rent out for?"

To get a broader ideal on how much to charge for rent, or property management information, I highly recommend talking to a professional property management company to figure out what a rental value would be and how much it will cost for the service. This will save you time and money which is always a plus.

Terra West Property Management is a local company that I highly recommend, Michele Williams is very helpful and can be reached at 702-251-4524. Be sure to tell her Steve Harless from Realty World sent you!

The Common Problem In Las Vegas - The News Media

The common problem now in Las Vegas, is the news media for ages has been inundating the public with negative information about the housing market, and the average consumer/investor thinks they can walk in and steal a property for nothing. That is just not the case so much anymore, but that being said there are still opportunities where you can buy $100,000 - $150,000 below the market values of 2005. The saving grace of Las Vegas, is the jobs that will be created from all the building that currently is happening in town. Experts believe 42,200 jobs will be created in just the next 3 years.

Currently, Las vegas is the Mecca for foreclosures and with the stock market going sideways and the oil crisis, the Las Vegas real estate market is busier then most people truly understand. The amount of foreign investors is truly amazing, and I see bidding wars on properties that quite frankly I myself would not be paying that amount for.
It is quite common to see as many as 10-20 offers on property in some neighborhoods.
So as an investor to save you time, I recommend sitting down with your agent and pre-viewing properties online to ascertain a value and to call the selling agent to see how many offers are currently on the property that you are interested in making an offer on.

Questions For Investors

The 4 questions I have for my investors:
How long do you want to hold the property?
Do you want to rent it out?
Is this a second home for you?
How much profit do you really intend to make?

This is just a sample of what we should talk about when we get together.
If you would like to sit down and explore the real estate investing opportunities in Las Vegas, feel free to call Steve Harless - Realty World - 702.217.1680

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