Get Started Investing In Real Estate
Real estate is the easiest to learn and the most forgiving of all the investment options. As long as you buy property in a good location, all but the worst mistakes will be corrected over time through appreciation, inflation and rent increases. However, you do need a basic understanding of real estate investing. Our newsletters are an excellent place to start. Familiarizing yourself with the basics of real estate investing will help you make informed decisions, and will result in a more effective relationship with us.
Over the years we have developed and refined proprietary analytics, processes and put together an expert team that ensure your investments are safe. The process is easy, and we are proud to have delivered positive cash flow properties since 2006..
If you are interested in getting started, contact us. You have our word that we will listen with open minds. And, if we or Las Vegas are not a good match, we will tell you. We will not try to "sell" you anything.
At the outset, we really need to understand your situation and goals so we provide you with our best guidance. Below is a list of questions that will help us understand your situation and goals:
- Are you looking primarily for income (cash flow), appreciation or a balance?
- How long are you planning to hold onto the properties?
- Have you purchased investment real estate before?
- What are your thoughts on the Las Vegas market?
- Are you planning to purchase using cash or financing?
- In which country or state do you reside?
- What are some of your major concerns of investing in real estate?
- Investing in Las Vegas?
- Anything that we should know about your situation?
What You Should Know About Us
All the services we provide are at no cost to buyers. The only money we make is the commission paid through the normal sales process by the seller. We do not receive or accept any compensation (money, meals, gifts, anything) from anyone including but not limited to: the property manager, contractors, handyman, lenders, title companies or anyone else. Also, there is no contract to sign. Our position is that if you consistently make money with little or no effort on your part, you will continue to work with us. If not, then you should work with someone else who can better meet your needs.
Below are three key documents about us.
- About Us (4 min read)
- What We Do (2 min read)
- How We Consistently Deliver Positive Cash Flow Properties (3 min read)
Familiarize with Investing Concepts
The rest of this document covers key investing concepts and the processes we follow. How much of the material do you actually need to learn before you start working with us? Almost none. However, you will be more comfortable with the overall process if you take an hour and go through the information.
- Why Real Estate? (3 min read)
- How Do You Make Money in Real Estate (4 min read)
- How Do You Buy Real Estate? (3 min read)
- Avoiding Failure Patterns (5 min read)
- What to Consider When Selecting A Good Investment Location (5 min read)
- Why Las Vegas? (10 min read)
- Estimating Return (5 min read)
- What Does Closing Costs Cover In Our Return Estimate (5 min read)
First Step - Arrange Financing
The first step is to arrange financing. There are multiple potential sources of financing including banks, mortgage brokers and credit unions. Be certain to tell them that you are considering buying an investment property in Las Vegas. Not all lenders have the ability to make loans in all states. Also, banks are generally limited to a total of 4 mortgages while brokers can usually handle up to 10. Most of our clients end up going with mortgage brokers since they have a lot more options and sources of loans. In many cases, mortgage brokers may be your lowest cost option.
International buyers - We have a loan source for international buyers. Contact us for details.
Understanding The Investor Tool
For our active clients, we provide a tool that allows access to a subset of the data we use internally to evaluate properties. This is not a prime time ready tool but it does provide the information you need to evaluate properties. Note that while it might function on a small screen, it was designed for a PC with a minimum 1700px wide screen and a modern browser.
- Tool Overview
- Sample Investor Tool - The properties shown in the sample tool may not be the most current properties and are intended for training purposes.
Learning the tool:
- Learn how to use the tool - Skype call with Eric Fernwood.
- After the Skype call with Eric, we will send you the current list of properties. Please select two properties and send us the MLS numbers. We will work up the properties and send you the results.
- Discuss the results with Cleo Li.
- Discuss the current market environment with Cleo Li.
Meet The Property Manager
While the services we provide enable you to consistently acquire good investment properties, it is the property manager who actually generates income and manages your asset. Here is a white paper on how to select a good property manager. (13 min read) At the end of the article is a list of the most common questions people have asked, which you may find useful.
We will arrange a Skype call with the property manager, Jenni McKenna.
Optional - Visit Las Vegas
We invite you to come to Las Vegas and spend a few hours with us. Do not feel bad if you cannot. Less than half of our clients are able to take advantage of this opportunity.
We will meet you at the airport if needed. You will ride along while we check out properties for other clients. We do it this way because we see the day as a learning opportunity. We do not want you to feel you are on the spot to make any decisions. You will learn a number of important topics as you ride along:
- Evaluating properties
- How to estimate rehab costs
- Potential problems with rehab estimates
- Understanding the key metro areas for investments
- Other topics as appropriate
Understanding the Purchase Contract
All residential purchases in Las Vegas use the same contract, which is supplied by the Greater Las Vegas Association of Realtors. Here is a link to a blank contract.
Learn the key parts of the contract - Call with Cleo Li.
Time to Make Offers
Work with Cleo Li to evaluate and select properties to make offers on. For a complete overview of the processes that we follow, click on this link.