Archive | January, 2012

Las Vegas High Rise with Terms

7 Jan

For those of you out there ready to live the lifestyle of the rich and famous, have I got a high rise condo for you.  Located on the fabulous Las Vegas Strip, in a penthouse unit at City Center’s Mandarin Oriental on the 42nd floor.  The owner of this amazing penthouse is willing to lease option this spectacular property and furniture is optional.  I’ve included photos of this spectacular property as well as this unit as currently furnished.  Check out the spectacular views from this breathtaking high rise, everything the executive while either visiting or living in Las Vegas.  Listed at $5,250,000, call me today to discuss how it can be yours.  Of course, you’ll have to be prepared to provide financials prior to viewing.  Call or email us for more details.  702-531-4798

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Calling All Investors

7 Jan

Freshly rehabbed 2 bedroom 2 bath condo close to the Strip.  New paint, new tile floors, new appliances, complete with tenant in this 951 sq ft condo with a balcony that offers extra storage.  $40,000 with 9% cap rate, Tenant just signed a one year lease at $600 per month.  This long standing Las Vegas community offers community pool and spa, and location to buses, Meadows Mall, and a short hop to the Strip.  This is a great property for the beginner or experienced investor.

Las Vegas Country Club Stunner – $725,000

2 Jan

Centrally located, just a few minutes from the Strip, located at the Las Vegas County Club, charming home built on a double lot.  Pool & Spa. Backyard has a private gate that opens to the golf course.  Great views of the Strip, Golf Course & Mountains.  Spacious rooms and verandas.  Owner will consider private financing, lease with an option to buy.  Golf cart included. Easy to show. Bring all offers.  3,907 sq ft, 4 bedrooms, 4 1/2 baths, master bedroom is downstairs.

What’s Up for 2012?

2 Jan

Las Vegas is an interesting market.  We are still facing challenges from the housing bubble and probably will for another 3-5 years.     

Out of the 23,918 properties on the market as of today (per our MLS and including single family homes, condos, townhouses and manufactured homes), 360 are open to selling with terms.  That is less than 2% of the sellers out there that will consider selling with owner financing or as a lease option.  The  remaining 98% percent are made up of bank owned and short sales, and private sellers who either don’t understand owner financing, aren’t open to it, or their agents don’t understand how to present it as a viable option for their sellers.

Currently 7% of the houses on the market here are not being sold as a distress sale.  That means they are not a short sale or foreclosure property, but a seller with actual equity either because they didn’t over finance their house or they are an investor trying to make money flipping a house they bought after rehabbing it.  And out of this 7%, only 7% will consider creative financing terms.

As investors who bought houses in the last year or two, who were trying to flip them for a quick profit discover that this is still not a great market in which to flip a house, we hope will become open to seller financing in order to sell their investment property.  The reason they may consider it is because they get someone to live there who will take care of the property because they want to make it their own, give them a good return on their money, and turn all of the maintenance and repairs over to the new occupant who wants to be a homeowner.

What that does mean to you is the pool of these types of properties is very small and if you see something that will work for you, you need to act on it quickly.  You may not get everything you want like a brand new kitchen, or a pool, or you may have to drive a bit further than you hoped.  But if homeownership is your goal, and traditional means aren’t available to you because of credit or being self employed, this is a great way to purchase a home.

As licensed agents here in Las Vegas, we strive to make this deal as painless as possible.  So do your homework, be prepared to show proof you have a deposit, be able to explain why you can’t get traditional financing, and don’t be afraid to work towards fixing the issues so you’ll be able to refinance in 2-5 years.  Expect to see new properties added to our blog several times a week.  And if you don’t see what you’re looking for, don’t hesitate to ask.  Properties get added regularly.

Our goal in 2012 is to help as many of you become homeowners as possible.

Happy New Years from us at Owner Carry Only.  702-531-4798  info@ownercarryonly.com