So how do you take advantage of this real estate market right now?
Well if you're looking to invest in real estate but are impatient with the returns or the length of time that it takes to receive an adequate return on your money, maybe this will help.
Purchasing foreclosure real estate at wholesale prices can save you a lot of money but is very tricky to do.
There is no time for loans and very little time for due diligence.
In order to make a safe wholesale purchase a maximum amount of leg work must be done in a minimum time period to ensure that the property is sellable.
Verifying condition of property, finding comparables for market pricing as well as lien priority research must be done.
Many home buyers prefer to purchase at retail prices (REO properties) as they are unsure of the actual mechanics of purchasing wholesale foreclosures.
Each day we acquire foreclosure lists from dozens of lenders & investors. Working from the hundreds of homes that are foreclosed on daily, we search for the best deals. OUT OF THE HUNDREDS OF HOMES DAILY WE OFTEN TIMES END UP WITH ONE OR TWO PROPERIES, BUT ARE JUST AS LIKELY TO END UP WITH NONE.
Once a property has been selected a thorough due diligence inspection is completed. Every day lists of properties that fit the criteria for acceptable partnering are posted on our web site. By searching our web site of Properties to buy you will receive information on all homes that have been identified for investing/purchasing.
Once you decide to purchase your Money is Secure.
Initial investment monies for purchase of properties go directly to the Lender/investor/title holder of the property. In some cases under your direction excess monies may be held in a trust account.
All properties are secured by actual deed issued in your name or the name as directed by you.
A buying commission of 6% will be paid to RB Realty.
We even have properties that potential buyers have indicated they would like to purchase and live in. These buyers have started the loan process with a designated lender and are generally pre-approved prior to identifying properties. Once we know they are in a position to be approved but only need to purchase a property we will purchase the home they are interested in. Once we have acquired the property the buyer will post a $5,000 earnest money deposit. If the buyer is unable to purchase this property or another buyer does not close on this property within 90 days the $5,000 EM reverts to the investor seller.
Under the above scenario a 5% return on monies is paid at the COE.
We feel this is the best way to solve the dilemma facing all investor buyers who want to take advantage of the foreclosure market but have little interest in long term holding or being a landlord.
This allows owner/buyers to purchase at prices much lower than retail and gives them a better than average chance of retaining the property, thus solving the crisis of foreclosures facing Las Vegas at this time.
