So I am a half a week late, sue me :)
Las Vegas, NV Area First Time Buyers to All Cash Investors: Does it Make Sense to Buy a Home Right Now?
Can you own for less than renting? Can you own a rental and see a decent monthly return on your investment?
Weekly feature w/ 4 homes in different areas of the valley designed to help people from first time buyers to all cash investors to see if the numbers make sense!
Address: 8704 Big Sagebrush- West Las Vegas: Black Granite, 4 BRs, 2 Car Garage, 1721 Sq Ft
- Price: $159000
- Rental Comps: $1300-1400*
- Estimated FHA Monthly Payment: $1297**
Address: 3668 Moonlit Beach Ave
- East Las Vegas: Gated Community, 1418 Sq Ft, 2 Car Garage
- Price: $74,900
- Rental Comps: $1000-1100*
- Estimated FHA Monthly Payment: $667***
Address: 1956 Vista Malaga St- North Las Vegas: 1113 Sq Ft, 1 Car Garage
- Price: $65000
- Rental Comps: $875-950*
- Estimated FHA Monthly Payment: $631****
Address: 590 Chelsea Dr- Henderson: Single Story 1677 Sq Ft, Near GREEN VALLEY!
- Price: $172,000
- Rental Comps: $1600-1700*
- Estimated FHA Monthly Payment: $1148*****
*Rental Price: Comparable range based on terms. Lower end rental price = more conservative lease terms based on best credit and 1 year + lease. Higher end rental price = more liberal lease terms with OK credit, pets allowed and shorter than one year lease terms. All prices based on date of this post. Comparable rental range is not net, it does not factor in the price of repairs, holding costs, property management fees, etc. I will be happy to send you the rental comps via email. Simply request "rental comps for " at email address: Renee@ReneeBurrows.com.
** $159,000 $56 HOA taxes $3380/year
- Loan Amount $156929
- Rate ******5.% APR = 5.378%(with 1 point)******
- Principle and Interest = $842
- FHA Mortgage Insurance = $72
- Est Taxes = $282
- Est Homeowners Insurance = $45
- HOA = $56
- Total Payment = $1297
*** E $74,900 $65 HOA taxes $1512/year
- Loan Amount $73,924
- Rate 5.% APR = 5.421%(with 1 point)******
- Principle and Interest = $397
- FHA Mortgage Insurance = $34
- Est Taxes = $126
- Est Homeowners Insurance = $45
- HOA = $65
- Total Payment = $667
**** NLV $65,000 $100 HOA taxes $1470/year
- Loan Amount $65,000
- Rate 5.% APR = 5.413%(with 1 point)******
- Principle and Interest = $334
- FHA Mortgage Insurance = $29
- Est Taxes = $123
- Est Homeowners Insurance = $45
- HOA = 100
- Total Payment = $631
***** HN $172,000 $0 HOA taxes $1376/year
- Loan Amount $172,000
- Rate 5% APR = 5.338%(with 1 point)******
- Principle and Interest = $911
- FHA Mortgage Insurance = $78
- Est Taxes = $115
- Est Homeowners Insurance = $45
- HOA = 0
- Total Payment = $1148
******Rates are as of 12/17/2008 and based on a 30 year fixed FHA loan on approved credit and income qualifications. Some products may not be available in all states. This is not a commitment to lend. Restrictions apply. Call for financing details 702-966-2494 option 3.
All properties listed here are brokered by Nevada Realty Solutions, LLC. Call 702-966-2494 option 1 (Para español presione el cuatro) for more information on properties.
Also check with your tax advisor for the potential tax benefits of owning a home.
Grant and Bond 100%, Zero Money Down Opportunities for First Time Buyers.
Renee, sounds like a great opportunity.
Renee, with our network of credit partners I can help you help the developer.
check my profile for more information.
Thanks
Yossi
David: Opportunity is all around us here!