Why buy through RB Realty?

We have tried to create the simplest way for you to purchase foreclosure real estate at wholesale prices, getting a good deal, with a great return. 

Why can't I do it myself?

You actually can, but there is a lot of research to be done and you have to know the Las Vegas real estate market and understand buying and selling real estate.  If you make just one small mistake you could loose a large portion or all of your investment.

What do we do to ensure that doesn't happen?

We only work within certain zip codes; these are areas that we know intimately.  We physically inspect the homes; we do property title searches, lien status searches and explore comparable prices of similar homes within the community that the home is located.

When do you know a home is available?

We generally work in (20) twenty day windows, and update our lists on Tuesday and Thursdays.  This gives all potential investors plenty of time to make good decisions.  Any home listed on our Properties to Buy sheet is a good candidate for making money.

Who handles my money?

For the most part you do.  Once we have discussed homes to purchase you will make your check out to the lender, trustee, or title holder.  If the home is not purchased for you, you get the check back.

How do I know how much to make a check out for?

Lenders give us a opening price based on historical information.   The final sales price may be more or less.  Generally it is less by several thousand.

In some instances it may be less by thousands, tens of thousands or more.  We are always on the watch for properties that actually go for sell at 25%-50% below the opening price.

What if the sale price is more?

We actually will recommend a purchase price that makes sense to us.  We recommend that you make out two checks.  One for the opening price amount and one for the dollar amount above the opening price that we feel would be an acceptable price to purchase the home at.  Once again if the second check is not used it is returned to you.

If you are successful in purchasing a home for me, who owns it?

You do, the actual deed is going to be made out to you on the day of purchase.

Now that I own the home what do I do?

Depending on your strategy, the home can be rehabbed and rented out long term.  Due to the purchase position every home would very easily cash flow making the investor a nice return on monies.

What we recommend  is quickly turning the property.  The bare minimum which is also the maximum is to remove carpet and pad, sweep, sanitize and seal the floors, and paint all interior walls white.  Per house cost is $500 to $2500 to complete this task.

How long till I can sell the house?

Currently you have to wait 90 days.  It's a lender seasoning thing.  In October the time period may be repealed and there will be no cooling down period.  During this time period we can find a buyer and even rent or sell the home on a lease option to generate cash flow.

Who do you sell the house to?

There are currently thousands of buyers looking for good deals. They are unable to purchase the good deals because they don't have cash. In Many cases we may even have a buyer for a particular home who has a loan in place and only needs to find a suitable home that meets their needs.

Who are these buyers?

Many will be speculative buyers looking to rehab and flip homes.  Other buyers may be owner occupied.

How long will it take to sell?

Nobody ever knows, but we know that we have to hold the home 90 days but we can find a buyer in that time period.  As we are purchasing at 20-25% below the lowest cost which may be a 60-70% discount over last year and 30-50% discount over current pricing it is hard to imagine that a home would not sell in 90 days.

What if it doesn't sell?

Under the worst case scenario you own a property that should have a positive cash flow position that could be rented out until it sells or the market increase again.

Is there a way to guarantee a buyer for the home I purchase?

For investors looking for a more secure position, we 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.

What is the return on my investment under this program?

Under the above scenario a 5% return on monies is paid at the COE.