Las Vegas Cash Flow Real Estate

Cash flow is one of the most important considerations investors face when making real estate purchases, especially now that so many markets across the country are struggling. Investors seeking high-income property should take cash flow into account first and foremost when deciding whether or not to buy.

Cash flow refers to the amount of cash coming in relative to the amount going out. While appreciation is often the most significant form of profit for real estate investors, cash flow is easier to determine and lower risk.

Although many elements combine to influence cash flow, one of the most important ones is the surrounding market. Areas with lower home prices are more likely to have positive cash flow.  Las Vegas real estate is a tremendous opportunity for real estate investors right now.  Property values have plummeted since the peak of the market in 2007.  The rental market is strong and rental rates more than align with property prices in the area.  Only in the Las Vegas real estate market do you have the ability for short term monthly cash flow with the probability of long term appreciation.

As we know the economic down turn has impacted most of the country and the world.  Because of this there are many opportunities in the US for real estate investment.  The place that makes the most sense is Las Vegas.  The housing market hit Las Vegas the hardest.  Along with historical data on the real estate market in Las Vegas, I believe there is an incredible opportunity in the Las Vegas market.

Short Sale Basics

A real estate short sale occurs when a home is sold for less than is owed on it. Because the lender is being asked to accept a loss on their investment, they take a role in determining the sales price of the home. A successful short sale transaction requires experience, patience, and the ability to find solutions if problems arise during escrow period.

As your short sale specialist, I'll:

Ø  Determine the requirements of your lender to approve your short sale.

Ø  Facilitate the submission of the required documents from you to the lender, including a "hardship letter" which speaks to changes in your income and or/expenses. 

Ø  Determine a listing price for your home, and diligently market it for sale.

Ø  Communicate regularly with your mortgage lender's short sale negotiator to work towards a selling price that they will agree to.

Contact me for a FREE confidential Real Estate consultation.

Adorable 3BD, 2BA Home for Rent in Silverado Ranch!

Silverado Ranch, Las Vegas  -  Announcing a rent/lease reduction on 10576 Pueblo Springs St, a 1,422 sq. ft., 2 bath, 3 bdrm 2 story. Now $995 USD Monthly - Reduced!.
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Immaculate 3BD, Plus Office, 3BA Home for Rent in Seven Hills, Henderson, Nevada

Las Vegas, Clark County  -  Announcing a rent/lease reduction on 1344 MEANDERING HILLS DR, a 2,128 sq. ft., 3 bath, 3 bdrm single story. Now MLS® $2,200 USD Monthly - Reduced!.
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Single Story For Rent in Anthem, Henderson, Nevada

• 2,266 sq. ft., 3 bath, 4 bdrm single story - $1,795 USD Monthly

Anthem, Henderson  -  Beautiful 4 Bedroom and 3 full bath single story in High demand Anthem Coventry, great schools, parks and walking areas. New paint throughout! A MUST SEE
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Short Sale-HAFA (Home Affordable Foreclosure Alternative Program)

• Home Affordable Foreclosure Alternatives Program: Overview
  The Home Affordable Foreclosure Alternatives (HAFA) Program provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu (DIL) to avoid foreclosures.
  HAFA alternatives are available to all HAMP-eligible borrowers who:
  1. do not qualify for a Trial Period Plan;
  2. do not successfully complete a Trial Period Plan;
  3. miss at least two consecutive payment during a HAMP modification; or,
  4. request a short sale or deed-in-lieu.
  
  
  In a short sale, the servicer allows the borrower to list and sell the mortgaged property with the understanding that the net proceeds from the sale may be less than the total amount due on the first mortgage. Generally, if the borrower makes a good faith effort to sell the property but is not successful, a servicer may consider a DIL. With a DIL, the borrower voluntarily transfers ownership of the property to the servicer - provided title is free and clear of mortgages, liens and encumbrances. With either the HAFA short sale or DIL, the servicer may not require a cash contribution or promissory note from the borrower and must forfeit the ability to pursue a deficiency judgment against the borrower.
  HAFA simplifies and streamlines the short sale and DIL process by providing a standard process flow, minimum performance timeframes and standard documentation.

A. Short and simple all you need to know about the HAFA short sale program -

1. Homeowners who qualify for a HAFA short sale are fully released from future liability for the first mortgage debt. This means that the mortgage lender cannot come after the homeowner at any future time for repayment of the original loan.

2. A HAFA short sale allows for a $3,000 relocation assistance payment for homeowners. That's a one-time payment of up to $3,000 to help sellers with moving costs, rent security costs, etc.

3. Most major lenders are already on board with the new HAFA rules, including Citibank, Wells Fargo, Bank of America, Wachovia, Chase, , and the list continues to grow.

Tips to Buying a Las Vegas Foreclosure

If you have been searching for investment property in Las Vegas, you’re in luck with foreclosures. Our current economy has increased the amount of foreclosed homes which has led to even better deals on the prices. You could easily secure a nice home for less than 50% of the value. With those kind of numbers, you could really make a nice profit. So how can you secure a foreclosed home? Here are a few instructions to get you started. 

Once you find property you are interested in, you will need to take your time studying the condition of the homes. It is important for you to see these homes in person, so that you do no rely on print outs. Doing so could be very misleading, and the result could end up costing you thousands of dollars in the long run.

First off, you will need to locate the property. You can secure a list from me .You can also search on my website. To give yourself multiple choices, try to look in different areas of town, Las Vegas, Henderson, North Las Vegas. That way you will have more to choose from, and can weigh the options against each one.

The next step will be to get your money in order. Either you’ll be paying cash or financing.  You need to speak to a lender and get qualified if you’re financing the property. 

Once you find property you are interested in, you will need to take your time studying the condition of the homes. It is important for you to see these homes in person, so that you do no rely on print outs. Doing so could be very misleading, and the result could end up costing you thousands of dollars in the long run.

Once you find property you are interested in, you will need to take your time studying the condition of the homes. It is important for you to see these homes in person, so that you do no rely on print outs.

Request a inspection of the property. Get a detailed list of important areas that will need to be fixed such as plumbing, electricity, windows, painting, etc. That way you will have an effective cost value that will be prepared for. You will not have any surprises, and end up out of more money that necessary this way.

In order to receive as much profit on your foreclosure purchase, you will want to give a great amount of detail to the repairs. Make it beautiful with new paint, cleaned floors, and more. The more you do to it on a budget, the more apt you will be to selling it in a short amount of time. The hard work will pay off. To help the process go fast, you may want to enlist help of other people.

Tips in Monetizing Las Vegas Homes

If you are going to buy an investment home in Las Vegas, you should probably think of ways to monetize it. After all, now is the time to by a Las Vegas home. Las Vegas is one of the cheapest housing markets in the US with the best rental return.  Return on your investment can be anywhere from 8-10% monthly. See how it can work for you. Luckily, you can monetize your Las Vegas home because of all the opportunities to buy short sales and foreclosures at historic lows. A bit of getting ready is what you need to do and from there you can earn your way to success. Simply follow these tips and in a couple of weeks or maybe months you will then be good to go.

If you are one of the lucky few invest in homes in Vegas, you should probably think of ways to monetize it. After all, now is the time to buy a Las Vegas home. How it can work for you.  You can monetize your Las Vegas home by renting it and making 8-10% return on your money monthly! A bit of research will get you ready to see what you’ll need to do and from there you can earn your way to success. Simply follow these tips and in a couple of weeks or maybe months you will then be good to go.

The best way to monetize homes in Vegas is to rent it out.  So many Las Vegas residents need to rent due to their credit being damaged by foreclosure or short sale of their prior homes or many people just choose to rent rather than buy. This is a very good idea because more and more people are looking to rent than buy. You can invest in the Las Vegas housing market and buy homes at an all time low in excellent neighborhoods with great schools and rent them out because they’re so desirable, while, making an excellent return on your investment.

If you are going to buy a Las Vegas home, keep in mind that your location should be good. This will make renting it easier and you’ll find a better quality renter. Second, when choosing homes in Las Vegas you need to pay attention to bedrooms and baths – at least 3 bedrooms, and 2 baths. This will make renting it out easier.   

Once you have researched Las Vegas homes, do make an effort to see what you’re buying and how much cost there will be in getting it ready to rent.  Keep in mind; you may be buying a foreclosure or short sale that may need a little work.  So, know what you’re getting into.

And of course, you have to advertise your home for rent – otherwise how will people know about it? The best place is always the Internet. Having detailed pictures of your home and submit it to Craigslist and the local MLS will help it rent fast.

Weighing Your Options With Short Sale Versus Foreclosure

Meeting the monthly payments on your Las Vegas home is no laughing matter; in fact a lot of people have been unfortunate enough to not be able to do this due to lack of funds. The economy is not helping, and pretty soon you might want to think about putting your home under a Las Vegas short sale. Your best options when it comes to this would be short sale versus foreclosure. Nobody likes to lose a home, but sometimes it really does have to be done.

Meeting the monthly payments on your Las Vegas home is no laughing matter; in fact a lot of people have been unfortunate enough to not be able to do this due to lack of funds. The economy is not helping, and pretty soon you might want to think about putting your home under a Las Vegas short sale. Your best options when it comes to this would be short sale versus foreclosure. Nobody likes to lose a home, but sometimes it really does have to be done.

Falling behind in the payments you have to make for your mortgage certainly is not something to be proud of, but at the very least you have the option of a short sale versus foreclosure to not let your past efforts become a total loss. When choosing between a short sale versus foreclosure, it pays to know what the similarities and differences are between the two options. It is easy to think that they are not the same when in fact some slight differences between the two may spell the difference between a good and bad outcome.

First, the similarities between a Las Vegas short sale and a foreclosure ought to be examined. In both scenarios of short sale versus foreclosure, there will definitely be an effect on your credit score. Then again, the effect could not be too damaging if you choose to go with a Las Vegas short sale and you only have a few months left that you were not able to make payments for the real estate. Suffice to say, a short sale versus foreclosure choice should make you yield to the former if you have been making payments for the mortgage for quite some time already.

Of course, some major differences do exist between a Las Vegas short sale and a foreclosure. First, the scenario might be that the mortgage company you signed up with approves the acceptance of net amount which you were able to get from your short sale. However, the money you make is not enough to cover the amount which you owe – which they also take into consideration. Any income that is the difference of what you owe and how much you were able to sell the house for is something the IRS will have to factor in. The best scenario is you might end up being able to avert any tax liabilities if the odds are actually in your favor this time.

Should the house be sold under foreclosure, you will not have tax liability because no consultation was made with your mortgage company. In the future, you will probably want to buy a house again; waiting time after an event like this will be around two years following the proceedings of a short sale but can go as high as six years if you go with the foreclosure option. Basically, these are the things you have to consider when you are weighing your options between a short sale and a foreclosure. Keeping these things in mind will surely help you arrive at a better decision even if you have to let go of your beloved home.