The recent wave of Las Vegas foreclosure listings have created unique opportunities for those looking for IRA investment options that include purchasing Las Vegas real estate. Over the last two years, Las Vegas has led the nation in foreclosures. Because of this wave of supply, property prices have plummeted as much as 80% in some areas of the Las Vegas valley. It is now possible to acquire single family homes that are only 3-5 years old for as little as $35,000.It is interesting to note, however, that while property prices have dropped significantly in Las Vegas during the last three years, rents have declined only moderately. This has created levels of positive cash flow for Las Vegas investment properties that hasn’t been seen in decades. It is now possible for investors to roll over their 401K or IRA accounts into self-directed IRAs that allow them to buy investment property tax free and without penalty. These IRA investment options are extremely attractive for investors looking to purchase secure properties with solid appreciation potential and strong positive cash flow.
We are currently purchasing short sale and foreclosure listings, rehabbing them, and selling them to investors with long term renters in place. These turn-key investment properties are generating average CAP rates of around 12%. A typical example would be 3 bedroom, 2 bath townhome constructed in the last five years that rents for $1100 per month and sells to an investor for $76,995.
If you are interested in purchasing one of these turn-key investment properties or would like to hear more about Las Vegas foreclosure listings or IRA investment opportunities in the Las Vegas real estate market, please contact Glenn Plantone:
Glenn Plantone
Wynn Realty Group
Office: (702) 656-3264
Mobile: (702) 769-9872
Email: gsplantone@gmail.com
www.viewpointequity.com
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