Investing in Las Vegas
Are there any small investors here, who invest in properties in Vegas Valley? I don't mean BIG Guys with cash in suitcases .... what's worth to take a look at in this area/market ???.... was thinking of buying 2 rental properties a year, condos ....any ideas, input, advice ?? thanks! Raf
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@Noam Ofan driving for dollars and skip tracing owner info on distressed properties. Finding motivated sellers, pre foreclosures is an example. People in pre foreclosure will possibly loose the property in auction and have bad credit for several years as a result. That can motivate them to sell their property at a discount, specially if time is of the essence, meaning, they might not have enough time to sell it through a regular listing and risk a purchase falling through... I would recommend in this case to seek assistance of a real estate agent who specializes in foreclosures and pre foreclosures, it can get tricky the closer it gets to auction day. Also don’t forget to check if there are other encumbrances on the property such as mechanical liens or other liens, property taxes (if they’re not paying their mortgage, they are probably not paying their property taxes) so you can account for those extra expenses. A title company can help you with finding this type of information.
There are many ways to find off market deals, just keep educating yourself. It’s what I do!! The bigger pockets books are wonderful.
Hope that helped.