Create Income By Investing In Las Vegas Residential Real Estate
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7495 W Azure Ave. Suite 214, Las Vegas, NV 89130
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www.Realtor.com
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Loans For Foreign Nationals
(second home only)
- Maximum loan amount $417,000
- 30 year fixed rate mortgage
- 30% downpayment required from borrower's own funds and must have 6 months reserves in a US bank before closing
- Must have 24 months credit history in his country
- Income amounts must be converted into US dollars
- Credit report must contain 4 trade lines
- 700 credit score minimum required 36/45 DTI
- Single family homes and condos allowed
- Property must be in an area where second homes are common and customary
- Can not own any other US property
- Borrowers with diplomatic immunity are ineligible
L a s V e g a s I n v e s t m e n t
P r o p e r t i e s
Damian 702-900-4992
WYNN REALTY GROUP
EXAMPLE 1 If you invest $100,000 CASH:
Now is a great time to take advantage of low home prices in Las Vegas and low interest rate.
For each $100,000 invested in properties you can create up to $1,750 in monthly income. This number is based on current REO listings (July 2011)
in Las Vegas area. Click here for detailed calculations.
FINANCING SCENARIO
In his example you would buy 3 houses (built after 1992) for $80,000, $91,000 and $94,000 with a 20% down payment and obtain a loan at 6.0%.
Total out of pocket expense would be $85,500 (20% down payment, closing costs & estimated repairs)
Estimated monthly income from rent: $3,700 ($1,150 + $1,250 + $1,300)
TOTAL monthly expense: $2,244 ($1,040 property TAX, HOA, insurance, sewer, trash, home warranty, property management + $1,204 mortgage payment)
Your monthly net income: $1,456 ($3,700 minus $2,244)
In this example your return on investment would be 20.4% plus the property future appreciation. If you purchased one of these properties for cash your return on investment will be 10% to 11.5%.
CASH PURCHASE SCENARIO
In this example you would purchase a house for $94,000 and your cost of acquisition (total out of pocket expense including estimated closing costs and light repairs) would $99,500. This could create a net monthly income of $909.
The above examples are based on current listings in North Las Vegas, NV. The return on investment will vary depending on property availability.
EXAMPLE 2 With Tenant
Total Investment $66,000
Rented for $900 / month
Built in 2005
1,350 sq.ft. (125 m2)
Plus 1 car garage
3 bedrooms
2.5 bathrooms
Purchase Price: $65,000
Closing Costs: $1,000
TOTAL COST: $66,000
Annual Rent: $10,800 ($900 x 12)
Annual Expenses: $3,850
(Include: Prop. Tax, HOA, Insurance, Home Warranty, Trash, Sewer, Prop. Management)
Annual Cashflow: $6,950
Return on investment 10.53 %
This house was purchased in 2006
for $213,000
I provide the following services to investors:
- Initial consultation, needs analysis over the phone or online.
- Identification of suitable properties (cash or financed purchase okay)
- In depth introduction to all areas of Las Vegas upon your visit here; information regarding potential properties, including additional pictures, video, etc.
- Cash-on-cash / Return On Investment analysis
- Coordination of re-keying, repairs, renovations, etc., after purchase is complete
- Connection with a local, trusted property management company to manage your new rental property
- Any additional requirements accommodated on a case by case basis
Information is current as of August 2011
