Best advice to any investor; know the marketplace you are playing in. If you are not thoroughly familiar with the rules of the game, you are assuredly destined to lose.

Certainly, no one, no matter how skilled an investor one may be- and we have said this time and again- knows everything, and if you are playing the real estate game, incorporate a team of specialists as your guides and advisors. As any successful investor will assure you, it takes a team effort to succeed.

There are many ways to diversify a real estate portfolio, and the investor should –after careful analysis – choose the path that best suits present and future market conditions and projections.

Among the many and most common real estate diversification investments are:

• Purchasing and selling or renting high-end properties; estate homes, luxury condos, etc.
• Buying, repairing and renting or selling handy-man specials
• Apartment complexes
• Condo conversions
• Real Estate Investment Trusts (REITs)
• Real estate mutual funds
• Real estate hedge funds
• Real estate related stocks
• Raw land
• Commercial property

Diversification allows the investor to ride out a down cycle in a particular market, with asset loss minimized or even neutralized by an up cycle in other real estate investments.

Take for example, what is happening in today’s marketplace. An investor whose specialty is strictly geared toward the buying and selling of single-family homes is faced with falling property values due to a huge glut of available inventory, mostly consisting of distressed properties, and with no immediate prospects of this inventory diminishing to any great degree for some time.

However, an investor for example, who buys and sells homes and has additionally invested for the long term in rental properties, including single family residences and apartment complexes, will have the benefit of continued cash flow from rentals.

Investors who have concentrated strictly on one aspect of real estate investment are in trouble when their investments hit a severe down cycle, since these investors have no immediate options to fall back on.

The investor with a skilled real estate agent as part of his/her advisory team is in an excellent position to intelligently forecast near future  market trends in some instances, and make the kind of investments that will maximize revenues and minimize loss.

Although these examples are just simplified versions of complex issues, the wisdom of diversification is obvious.

But, as in any downturn, even during the Great Depression of the 1930s, opportunities for the astute investor could always be found.  Of course, in good times or bad, cash is always king, and an investor with a ready source of capital and a sound line of credit is in a position, particularly at this point in time, to acquire real estate properties at record low prices.

Additionally, investors with the very best credit now have the opportunity to finance purchases at nearly rock-bottom interest rates.

When looking at Las Vegas single-family properties as an investment in today’s world, one has to carefully evaluate many factors of importance that may not have been as important only a few years ago.  For example, location now takes on a new meaning when evaluating a property to rent or sell.

When the economy was flourishing, many families decided to purchase homes in the suburbs. Gas was reasonably priced, and the family breadwinner felt that it was well worth a longer commute to work or business in order to raise the kids in a cleaner, safer environment.

That same suburban house doesn’t look all so inviting in today’s world to many breadwinners who are working, and have the means to purchase a home.

With gas prices hovering in the three dollar a gallon range, and the fear of a further rise per gallon, as well as the costs of driving to and from work and the wear and tear on the family car, the careful home buyer will certainly consider location a most important factor in his/her purchasing decisions.

Why not look for a home closer to work, or convenient to public transportation? It’s easy to see why an investor would consider the home with a shorter commute to be a wiser investment than the suburban home.

Close-in quality neighborhoods are the locations where home values are most likely to regenerate quicker once the economy begins to recover, and properties in these areas will certainly rent faster or sell profitably.

Changing concepts in real estate investing means that the knowledgeable investor will be looking at how much income a property will generate over the long term.

Flipping houses for a quick profit during the boom years was a strategy that worked at that time, but with the huge glut of inventory now on the market, and with more distressed properties still to appear this year putting further downward pressure on market values, the days of fast turnovers and quick profits are pretty much over for the time being.

With home prices continuing to fall, a long term investor is now able to purchase a property at an attractive price, a price that would leave enough leeway so that rents would be sufficient to cover all of the property’s carrying costs, plus a margin for profit.

The savvy investor will always retain the flexibility to recognize the change in concepts in an ever-changing marketplace.

If you have any questions about investing in Las Vegas Real Estate, feel free to give us a call at 702-376-7379.

Las Vegas Rental Property Investors who engage a property management/real estate brokerage firm do so for the purpose of not only managing their current investments but to additionally help to find and negotiate the purchase of new properties, and formulate  an exit strategy for when the investor decides that the time is right to sell these properties.

Establishing a working relationship with a firm that has these dual capabilities gives the investor the advantages of employing a firm that can not only manage their properties but can keep the investor up to date on changing market factors and conditions that can effect the timing of both the buying and selling of the investor’s real estate holdings.

The property management/realty firm that has the expertise and overall capabilities to screen potential renters, collect revenues, maintain the investor’s property or properties within the guidelines of established laws and regulations, enhance revenues, institute cost effective measures and management techniques, market the property to ensure maximum exposure for rental purposes, and when it is decided to sell, aid in the negotiation process between buyer and seller, will prove to be to be one of a real estate investor’s greatest assets.

Pricing a property in line with market conditions, at an asking price that would be attractive to buyers, and simultaneously building in a profit margin acceptable to the owner, takes the expertise of an exceptionally skilled and knowledgeable Las Vegas Listing Agent.

An agent who has the negotiating skills to close the deal with a compromise strategy that would be acceptable to both parties, is the quality agent you want as your representative.

North American Realty Company of Nevada takes pride in the fact that as a truly full service real estate and property management company, we have the property managers and real estate agents with the skills, experience, and capabilities, to accomplish all of the above to our client’s complete satisfaction.

When you, as a real estate investor, plan to buy or sell rental property, and are represented by a North American Realty of Nevada Agent, you have engaged a representative who is highly skilled in the negotiation process, and has the people handling skills necessary to overcome objections and gain the confidence of buyer and seller.

Client satisfaction and helping our Las Vegas buyers and sellers to achieve their real estate goals are our primary objectives. Contact us for a no-obligation consultation at 702-376-7379.  We look forward to serving your needs.

Las Vegas Property Managers are hired by landlords and investors to produce results and relieve the property owner of many of the onerous details involved in rental property ownership. The expected obligations undertaken by the property management company – in accordance with the contracted agreement with the property owner -could be any or all of the following:

• Marketing the property to attract tenants
• Screening prospective tenants
• Maintaining low tenant turnover
• Rent collection
• Evictions
• Maintaining curb appeal
• Timely handling of tenant disputes and dissatisfactions
• Prompt attention to emergencies
• Request and analyze competitive bids from contractors and landscapers
• Maximize income
• Implement effective cost control procedures

The property management company’s expertise in analyzing bids and choosing a contractor ideally illustrates the importance and value of their services to the landlord.

For example, the experienced Las Vegas Property Manager –after careful evaluation- does not always choose a contractor solely on the basis of that company’s low bid. In fact, the property manager does not necessarily make the final decision to award the contract based upon the lowest bidder.

What the property manager is looking for is a competitive bid from the company with the best reputation for excellence of work, and strict adherence to completion schedules.

The property manager knows that the contractor with the expertise, manpower and reputation for reliability will do the job satisfactorily the first time, and in the long run would prove to be a more cost effective choice than a contractor of lesser reputation, who may in fact be the lowest bidder.

Emergency work of any kind is time-sensitive, and the property manager’s choice of contractor must be the one with a proven track record of handling immediate repairs promptly. Once again, the contractor may not necessarily be the least costly choice, but the proper choice.

The effective property manager understands that, within reason, there will be an unavoidable cost overrun from time to time, but as a rule will pay strict attention to operating within a specified budget.

Additionally, the innovative property manager and landlord will seek other, non-rent sources of revenue to increase the property’s overall profitability. Laundry facilities are an important amenity that is not only a much-used convenience for tenants, but a revenue source as well.

Vending machines on the property are appreciated by the tenants, and serve as another example of non-rent revenues that can be generated.

A laundry machine contractor can be engaged to install, maintain and repair washers and dryers and collect revenues. A vending machine operator will keep the machines well stocked, will be responsible for maintenance and repair issues and collect revenues as well.

Laundry facilities and vending machines should be programmed to accept smart card technology as opposed to coin-operated machinery, which often tempts break-ins. Laundry room and vending machine areas should be well-lit in the evenings for the benefit and security of the tenants.

The skilled and competent property manager’s value to a landlord cannot be underestimated. The property manager’s capability to maintain and increase a rental property’s value and cash flow, as well as problem solving and tenant relation skills allow the property owner to devote valuable time to other matters and significantly contributes to the property owner’s ability to focus on additional real estate objectives and goals.

North American Realty of Nevada has the credentials, credibility and track record suitable for your needs, which is why we are an asset that will strongly contribute to your profitability and protect your investment.  Feel free to give us a call at 702.376.7379 to discuss our management services or complete our contact form.

This property is located in a non homeowner association community.  It is currently vacant and ready for an immediate move-in for a monthly rental amount of $1,150.

If you have any questions about this two story home located in Southwest Las Vegas or would like to set up a private showing, feel free to give us a call at 702.376.7379.

MLS # 1055430

This property is currently vacant and ready for an immediate move-in for a monthly rental amount of $1,290.

If you have any questions about this two story home located in Southwest Las Vegas or would like to set up a private showing, feel free to give us a call at 702.376.7379.

MLS # 1065244

The first step is to post or serve the five day notice.  A witness must be present at all times during any and all types of service or posting. Fill out the amount of rent with late fees that is due along with the rental period for which is was due.  Fill in the amount collected for the security deposit and the day that rent became delinquent.  After this has been completed, refer to the section on the five day pay or quit form called “Affidavit of Service”.  The person serving the notice will initial one of the three areas as to how the notice was given.  The date of service must be filled in on the day of service and initial placed on the line for the type of service preformed.  Both the person serving and the witness must sign the notice to complete this form.  Four copies should be made, all of which require original signatures from the server as well as the witness, one or two copies for the tenant depending on how they were served, one for your records, and the last for mailing if it is necessary.

The first type of service is used when the tenant is served in person.  The tenant will sign acknowledging that they have been served.  If this is the case, you will move on to the next step of eviction.  DO NOT MAIL A COPY TO THE TENANT IF THEY HAVE SIGNED.

If the tenant is not home and some one of suitable age answers the door, they can sign acknowledging the five day was served.  Then an additional copy with original signatures must be mailed to either the residence or the tenant’s place of business by a certificate of mailing.  Please note that the certificate of mailing and certified mail are different.  It must be done by the certificate of mailing as no other form of mailing will be recognized by the court.

The third, most common affidavit of service is to post the five day pay or quit.  When the tenant is not home, or refuses to answer the door, initial the last line stating that the notice was posted, not served.  If there is a garage and a front door, post on both of these areas to ensure proper notice was given and take a picture of the notices after they are placed for additional evidence that the tenant was served properly.  Once this has been preformed, then take another copy to the post office and mail a copy to the either the tenant’s residence or place of business by a certificate of mailing.

Once service or posting has been preformed, the following day is considered to be the first business day of the five day period.  This is important to remember if the Henderson five day pay or quit is served, as the Henderson work week is Monday-Thursday.  If a Henderson five day pay or quit is posted/served on a Thursday, the next business day is not until the following Monday.   Since Monday is the first business day, the summary eviction cannot be filed with the constable until the subsequent Monday as there are only 4 business days in the Henderson work week.  This would be a total of 11 calendar days before the summary eviction can be filed.  Be mindful of holidays as well.  This could cause an even longer delay in getting the tenants out of the property.

If the land occupied by the townhome is part and parcel of the deed, then the building is designated as a “townhome.” However, if the land is not the actual property of the homeowner, then the townhome is designated for insurance and tax purposes as a condominium.

Townhomes can be constructed as a single-story, duplex, or triplex. Depending on how the bylaws of the townhouse community are structured, each owner may have an additional shared ownership of the complex, which would include the common areas, parking facilities, swimming pool, recreational facilities, and clubhouse.

A governing Home Owners Association (HOA,) oversees the community’s adherence to Covenants, Conditions & Restrictions (CC&Rs.) These policies dictate the legally enforceable operational guidelines that the Home Owners Association must follow and the rules homeowners are obligated to follow, inclusive of the homeowner’s obligatory monthly payment of association fees to cover the costs of landscaping, repairs, maintenance, taxes, etc., of the common areas of the community.

The townhome “lifestyle” appeals to those who enjoy close community living, freedom of the responsibility for maintenance and repair of the exterior portion of their home, easy access to recreational facilities; swimming pool, workout room, clubhouse, tennis courts, etc.

The question of whether or not a townhome is a good investment, has many pros and cons. Certainly, if the purpose of the investment is for rental or resale, the Home Owners Association guidelines assure that the unit’s exterior will be well maintained.

Appreciation is usually not quite on a par with single family residences, and in a down market, townhomes most often depreciate at a faster rate. Certainly, the age of the townhome, how well the interior has been maintained, and if the home has been upgraded, as well as the location, are important factors to consider.

It is equally important to investigate the financial condition of the Homeowners Association. An examination of the operating budget, and copies of past years budgets should be compared. Amounts allocated to the reserve fund, a current financial statement, including a balance sheet, and operating cost statement are necessary to examine as well.

Reviewing the financial statements, insurance declaration and all pertinent documents necessary to analyze the financial health of the HOA is as necessary as evaluating the townhome itself, before deciding if the potential investment is worthy of pursuit.

If you have any questions about Las Vegas Real Estate Investing & Management, feel free to give us a call at 702.376.7379.

• A completed loan application form
• Copies of your past and present IRS income Tax forms. Ask the lender, prior to your visit how many years of IRS filings will be required
• Copies of your credit reports from all three principle credit reporting agencies: Experian, Equifax and TransUnion. Of course, the bank will pull their own reports, but bringing the reports as part of your loan application documentation will certainly enhance your credibility with the lender.
• The loan application form will require you to document your current source of income from any and all sources, employment or business, type of employment or business, debts and other liabilities, alimony, child support payments, if applicable, banking information; checking, savings accounts, etc.

It’s important to point out that if your application is in order, and you have passed the preliminary investigation, you will then have been “pre-qualified” by the lender. After a more thorough investigation of your financial condition you will be considered “pre-approved,” which in effect means that the mortgage company has made a firmer commitment. A full commitment, however, will not be made until the lender is satisfied that the property under consideration is priced right for the current market, and the property has been thoroughly examined by a licensed appraiser assigned by the lender.

Once you have found the Las Vegas Property you want to purchase, you will need to furnish the lender with sufficient details and documentation necessary for the lender to evaluate your loan request. Of course, even if the bank decides that the loan is worth pursuing, a firm commitment will not be made until after the appraisal report has been thoroughly examined.

When you have decided on a property of interest, you must bring enough informative documentation and details about the property to the bank in order to get the final loan processing procedures underway. Among the required documentation should be:

• A copy of the purchase contract
• Title commitment
• Appraisal: The lender will also want their own appointed appraiser to examine the property, however a dual report, where both appraisals are very close in estimate will help considerably in assuring the lender.
• Insurance agency commitment to insure the property
• If any repairs are required, a complete cost of repair analysis by a verifiably licensed general contractor is required
• Detailed inside/outside color photographs of the property
• A spreadsheet covering purchase and closing costs, holding costs, Realtor costs, repairs, etc.

All of the above is a sampling of what you should do, and what is required by second and third parties, in order to ensure that your real estate investment goals are achieved.

If you have any questions about Las Vegas Real Estate Investing & Management, feel free to give us a call at 702.376.7379.

In addition to Las Vegas Investors looking to borrow funds, banks are additionally dealing with many real estate related issues forced upon them by current market conditions, such as foreclosures, loan restructuring requests, short sales, etc.

Unless you are financially well off enough to be an all-cash buyer, you are going to need a loan to finance/purchase your new found property, and since banks are, to put it mildly “running scared” in these unstable times, it’s going to take some skillful planning and preparation to convince a lender that you are a suitable risk.

If you are a new investor, without a previous history of successful property acquisitions, and new to this particular lender, you will, of course, have to show the lender proof of your financial health, such as current debt to income ratio, past and current credit history, occupation, and so on.

Although the entire lending process can be accomplished by phone, mail, electronic paperwork transfer, etc. this article deals with a face-to-face interview with the lender.

Selling yourself to a lender as an acceptable credit risk is only half the battle, so to speak. The lender must, of course, be convinced that the property or properties you have chosen are worth investing in as well.

What do you need to do to ensure you get that loan? What you need to do, is to prepare a professional presentation that will clear all doubt as to your qualifications as an acceptable loan applicant, and convince the lender that your property is indeed a suitable investment.

If you think of yourself as a salesperson selling a product to a prospective customer, or a job applicant being interviewed for an important position, you will have developed the mind-set needed to put forward your presentation in a self-confident and convincing manner.

Before visiting the lender, put all relevant documentation into a professional looking binder, and carry the binder in a suitable briefcase. Dress in appropriate attire suitable to a professional business person. Approach the lender in a confident, friendly manner, which helps to establish an immediate rapport with the interviewer.

Getting back to the salesperson mind-set, you should be absolutely convinced that you are partnering with the lender in a mutually beneficial association. Keep in mind, and convey those same thoughts to the interviewer, that you will be investing the lender’s money for the benefit of both of you.

Be knowledgeable and convincing as well as to why you feel that the property or properties of interest are suitable investments.

Most important of all, be absolutely sure that your personal financial “house” is in perfect order. After all, the lender is going to look at your risk acceptability before considering the property’s risk suitability.

In part two of this article we will discuss in more detail the documentation, reports, etc. the lender will require.

If you have any questions about Las Vegas Real Estate Investing & Management, feel free to give us a call at 702.376.7379.