Glenn Opens Up Fixed Interest Program to Smaller Investments

For the last two years, we have been successfully flipping homes in Las Vegas using our proven formula. We purchase distressed properties well below current market value via short sales, the trustees’ auction and bank-owned REOs. We then rehab these properties to better-than-new condition and place quality, long term renters and lease option tenants in the properties and sell them to investors looking for turn-key real estate investments with solid cash flow and strong appreciation potential. Last year we flipped over 25 of these properties and this year we have already more than doubled that effort.

In order to fund our acquisition and rehabilitation costs, we have brought in private investors who have put up the funds for one or more properties at a time. We offer these investors a guaranteed 10% return on their money. Not only are the investments secured by a first position lien on the property, but we also guarantee the 10% return regardless of the success of the flip. During the last two years we have never missed a payment to an investor! (We have detailed documentation on each and every flip we have completed and are happy to provide this information to prospective investors upon request. We also have references available from current investors.)

Over the last couple of years, many investors have approached me looking to get involved in our projects and take advantage of these phenomenal (and secure) returns. Unfortunately, I have had to turn potential investors away if they didn’t have at least $100,000 available to commit to the project. The way our deals were structured, we weren’t able to allow investors to fund only a portion of an acquisition, we had to have one investor per property.

We are thrilled to announce that this has now changed. We have recently restructured our operating agreement in order to create an opportunity for investors to get involved with as little as $20,000. Our new investors will still receive a guaranteed 10% return on their investment and their investment will be backed by the real estate itself. Payments will be made quarterly and investors may exit the program at any time with 90 days notice.

If you are interested in learning more about how to make more than 5 times the current savings rate of return, please contact Glenn for more information.

Bank of America Agrees to Allow Buyer Substitutions on Approved Short Sales

Bank of America announced recently that it will now allow agents to substitute buyers into approved short sales in cases where the original offer falls through. This news was greeted with enthusiasm from real estate agents, investors and potential home buyers. Many real estate professionals view it as a much needed and long awaited step forward in helping to boost the success rate of the short sale process.

The biggest hurdle facing short sales is the long timeline associated with obtaining bank approval. (Short sales typically take between 60-90 days to be approved.) Because of the uncertainty and lengthy waits involved in purchasing a short sale property, many potential home buyers submit multiple offers and/or continue looking while the short sale negotiation is in process. Many times, if a successful agreement is reached with the bank, the potential buyer has long since moved on to another property.

This is what makes Bank of America’s new policy so helpful. According to their new guidelines, Bank of America will allow the listing agent on the short sale property to substitute a different buyer at the agreed upon price without reapplying for approval from B of A. While this is certainly not a silver bullet, it is a tremendous improvement to the short sale process and one that we hope other major banks will adopt as well.

Las Vegas has seen the highest percentage of foreclosures and short sales in the nation. Over the past three years, we have consistently purchased distressed properties through short sale offers and placed them in our rehabilitation program. As part of this program, we completely renovate the homes to move-in ready condition, place a quality, long term tenant in the property, and then resell the home to one of our investor clients looking for a turn-key buy and hold investment with strong cash flow and upside appreciation potential. We have had tremendous success with this win-win scenario. Our investors are averaging returns between 8-10% for cash purchases and 12-24% for financed deals. We are also providing quality rental housing for the large percentage of Las Vegans who find themselves unable to purchase a home at this time.

If you are interested in taking a closer look at the strong returns that are currently available in the Las Vegas real estate market, please contact me. I am currently offering complimentary two night stays at the MGM Signature for qualified out of town investors. Call me for details.

Glenn Plantone
Wynn Realty
(702) 656-3264 xt: 203
gsplantone@gmail.com