Renter · Alhambra, CA · Member since 2009 · 133 posts · 5 votes
Hi all,
I've got a job in Downtown LV and want to do a deal for a nice place within 20 minutes rush hour drive time to downtown at Charleston on 15North / juncture with 95.
I believe this is a Buy and Hold. I might come back to LA after a year or two and rent it out then.
So, which REI Club in Las Vegas would be recommended ?
Rich, I don't know what to tell you about where to get a good deal in Las Vegas right now. I was buying at the trustee sale but the prices are getting to be at retail levels now and that inventory is way down. Plus you need all cash there. I am concerned that the market is being manipulated by state government intervention in NV. Google AB 284 if you want to know more about it. Its not a full moratorium but it has stopped the flood of foreclosures dead in its tracks. The key question is whether there will be a glut of foreclosures and shadow inventory in the next twelve months, or whether there will be an effort to stop the flood of foreclosures in Las Vegas tightening the supply/demand model. A lot of us are watching that market very closely right now. Most people I know investing in Las Vegas are making multiple offers on the MLS and hoping some get accepted.
Hope we can help each other too. :)
Don't know how you're finding properties ?
Through wholesalers, research MLS, REO brokers etc ?
How to put together a fair deal for all ?
Best, LA Guy
I am working with a Realtor but have had to take a detour from actively putting in offers for the time being because of a personal situation.
My first property will most likely be FHA on a 4-plex. I will move forward from there.
I still have a lot to learn about putting together a fair deal for all.
I am working with a Realtor but have had to take a detour from actively putting in offers for the time being because of a personal situation.
My first property will most likely be FHA on a 4-plex. I will move forward from there.
I still have a lot to learn about putting together a fair deal for all.
Thanks,
Jesse
Hi Jesse, Sounds good ! If I may ask ...
Are you buying with cash or FHA / HUD / Homepath financing etc
in what general idea ?
Just trying to understand how you're doing this deal ?