Bulk REO Package Available for Purchase in Las Vegas

The big news story in the Las Vegas real estate market continues to be the lack of REO inventory. Record low inventory has prompted multi-year highs in new home starts and steadily rising home prices. As a full time real estate investor, this has proven problematic for me and my clients. Finding affordable foreclosure properties to renovate or cash flow has been getting more and more difficult.

Recently (and by recently I mean this morning), I've found a solution. I have been in discussions with a major national bank and it turns out that the rumors of a "shadow inventory" of foreclosure properties in Las Vegas is true. The banks are sitting on foreclosures, but they do not intend to release them onto the public market (the MLS.) Instead, the banks are selling these REOs (post-foreclosure, bank owned properties) in bulk packages of $5MIL - $25MIL.

We have recently secured such a package containing REO properties located only in Las Vegas, NV. We are contributing $3.75MIL to purchase these properties and we are looking for an investor to come in with the remaining $1.25MIL to take it down. We will be purchasing these properties for 25-30% off current appraised values. This is a fabulous opportunity to pick up extremely hard to find Las Vegas investment properties at bargain prices.

More information on this Las Vegas bulk REO package will be provided to any serious, interested investor with proof of funds.

Property Management - The Glue That Keeps Us Together

You may realize (because we’ve repeatedly told you) that Glenn Plantone is the 7th busiest real estate agent in all of Las Vegas and that he specializes in rehabbing distressed properties and turning them into beautiful homes.  What you might not realize is that Team Plantone at VIP Realty has quietly grown into one of the premier property management firms in all of Las Vegas.  

It was a business that developed out of necessity.  After Team Plantone finished a renovation project, it became necessary to place a quality tenant in the home in order to hand over the property to an investor buyer as a turn-key investment opportunity.  Many of these investor clients were located out of state or even out of the country.  Glenn found himself spending countless hours meeting with property management firms, handing out business first to one and then another, trying to find a PM company that would take good care of his clients and their tenants.  Glenn quickly discovered that nobody can take care of your valued clients as well as you can yourself.  And so VIP Realty’s Las Vegas Property Management Division was born.

VIP’s Las Vegas Property Management team offers all the services you’d expect from a first class PM firm: full service property management, rehabs, application processing, marketing, repairs, and tenant screening.  VIP does not charge set-up fees and offers multiple property discounts.  VIP will also help to market self-managed properties for a reasonable fee that includes the rental agent’s commission.  

Because of our reputation for performing high quality renovations, we always have a waiting list of potential tenants looking for the perfect rental property.  This reputation helps us to fill our client’s vacancies quickly.  

If you are a property owner looking for property management that was developed for the express purpose of catering to your needs, contact our Property Management team today for more information.  If you are a renter looking for a great property to call home please call us for more information on our current availabilities.