Buying Foreclosures in Las Vegas Has Never Been Easier!

In its January 11th, 2009 issue The New York Times heralded Las Vegas as its “Frugal Destination of the Year,” proclaiming that “Las Vegas has been buffeted by the economic crisis, and deals are plentiful along the Strip.” According to Dr. R. Keith Scher, director of the Center for Business and Economic Research at the University of Nevada, occupancy rates in the city’s 141,000 hotel rooms are down 15%. This results in great deals on accommodations all along the spectrum…from the high end 4 and 5 star properties through the bargain destinations downtown. The Times says that restaurants and shows are also getting in on the act, with performances like Cirque du Soleil offering discounted tickets for the first time in history.

And if bargain food, lodging and fun aren’t enough reason to visit Sin City, Las Vegas also happens to be the largest foreclosure market in America. Properties are selling for 30% of their highs two years ago and are showing strong cash flow for the first time in decades. Now is definitely the time to stay, play and buy in Las Vegas.

I’d like to invite you to do just that. As a full time real estate investor, I have been buying and selling in the Las Vegas market for the last 5 years. I know how to recognize great deals, because I am an investor first and a realtor second. I currently own upwards of 20 investment properties. I utilize a network of bird dogs, agents, and feet on the street to find the best properties available. As your personal tour guide in the Las Vegas real estate market, I will take you to the deals and show you properties that will meet and exceed your investment goals and expectations.

Here are just a few examples of recent transactions that I have brokered for my clients:

7461 Enviable Ct. – This is a 3 BD/3BA, 1300 sq. ft. property that was listed at 109K. We negotiated down to 90K with a cash purchase. The property should rent for around $1395 which, even had the client needed to secure a loan to purchase, would still provide for monthly cash flow between $500 and $700.

Regent Condominiums Unit 1105 – This is a 2BD/2BA, 1247 sq. ft. condo that we wrapped up at $64,000. It sold new in 2004 for $163,400. We secured a renter for the property at $965/mo. the day it closed escrow. This resulted in a positive cash flow for the buyer of over $600 per month.

9502 Milkweed Canyon – This is a 4BD/2.5BA, 1559 sq. ft. home that sold new in 2006 for 257K. We picked it up at 107K. It should rent for between $1200 and $1500, resulting in a positive cash flow on a traditional P&I loan of $490 to $620/mo.

These are incredible opportunities and we are having tremendous success negotiating with sellers to bring already bargain properties down another 10 – 20% from their list prices. If you are interested in purchasing solid properties with positive cash flow and built-in equity, please contact me today and let me arrange a Las Vegas property tour for you.

Glenn Plantone
ViewPoint Equity
Office: 702-405-6481
Mobile: 702-769-9872