All Forum Posts by: Robert Rayford

Great, be on the look out for a email from me.

Hello Sean, I have a deal in Florida that needs funding assistance. I will email you with the numbers.

Robert

Stephanie the property is in North Las Vegas. The area of Las Vegas Blvd and Lake Mead intersection.

Hello William, I have a property that I am just starting to remodel. It's 2 small homes on 1 lot. Although you may not want to reside in the units ( area ) it would be a smart buy for someone wanting a cash flow property. Rent analysis shows a combined gross income of $1300+. My asking price will be in the $100k range depending how far I have to go into the remodel.

Here's the deal. I have a townhouse that is completely Professionally remodeled. New kitchen, bathrooms, tile flooring 1st floor, carpet upper floor, granite counter tops in kitchen and bathrooms, granite tub/shower surround, new windows, new doors etc. All work done by Lic. General Contractors.

I have this property listed at $65k and I will carry the balance with 50% down.

Terms:

Asking: $65k

Down payment: $32,500

8% for 2yrs

Amortized over 30yrs

Monthly payment est:   $238.47

Monthly Expenses:

HOA: $120

Tax  $21.67

Insurance: $60

Just finishing up the remodel and cleaning up the unit. I will update this post with the pictures soon.

@Account Closed keep me in the loop. Add me to your contact list. 

@Christopher Brainard I like your response. I currently have wholesalers and other investors asking me to point them to the deals. What a difference a year makes.

@Account Closed  by all means if you have a ambition to be a wholesaler then go for it. The market needs wholesalers. 

I was averaging 3-5 calls per day from Las Vegas wholesalers wanting to peak my interest in their  deals, most of the time on the same property . lol . Around the 3rd quarter of last year the calls started to slow down then stopped. I know the market out in Vegas has tighten up considerably and the inventory in the Class C and B properties has shrunk, at least for the flipping market. I am wondering if it is do to the onslaught of "real estate Guru's" that rushed to the area to teach their wholesaling systems or the Dodd-Frank Law's fault . I drive through the city's neighborhoods and on any given block I can find multiple properties in distress, zombie, vampire, abandoned, squatted, boarded or any other term you would like to describe these homes. Yes. I understand that there are many different reasons that a property may go into one of the above categories but come on, they all can't be locked up in some weird note issue by a lender that has folded or was foreclosed without proper process. Are all the wholesalers choosing the easy path by posting sign's and banners on poles? Or could it be possible that the Vegas wholesalers top 1% with a established pipeline has control of 90% of the market. And since when is property considered a " wholesale deal " when it is offered at 80% of retail....? I would like to hear from the other investors here in Vegas on what you think on this issue. If you are a wholesaler chime in.