Las Vegas Real Estate News

Rents in multifamily could shatter records in 2016

This may be true but we are having more than our fair share of surges in expenses. Our investors who have multi family properties may finally get some relief. This kind of news is pushing prices up and we are recommending that our investors start unloading their multi family holdings and move to commercial.

Multifamily sector riding high in 2016

Construction volume in Las Vegas’ multifamily sector nearly doubled in 2016. These contruction starts are the large 100 units or more in size.

Corey Harrison of ‘Pawn Stars’ lists northwest valley home for $2.4M

For $2.39 million, you can buy a northwest valley house with seven bedrooms, six baths, six garages and a spacious basement. Telling people you own …


Lease/Options (Channel 22 Video)

We have made a few policy changes on our lease/options. 

  • Notices – Tenants will be required to notify owners 90 days before their option to purchase expires. New lending laws are wreaking havoc on the escrow process. Typical escrows now take about 50 days. Rediculous.
  • Background Checks – We are now doing “soft checks” on prospective tenants. Tenants who have eviction history or tenants who are flagged will not be allowed to do a lease/option.

Here is the top 10 properties you should consider purchasing for lease/options.

Single Family

$122k – 3/2/2

Needs Rehab


 

Property Management Info

Closing Out Multi Family Properties – Our most problematic properties have been put on the market for sale. We will eventually phase out all our multi family properties by the summer of 2017. Owners who don’t want to sell theirs will be encouraged to find someone else to manage them. Unfortunately, we haven’t found a competitor yet that’s both competent AND willing to take on multi family properties. We won’t leave anyone hanging. If you know of a good company, please notify Jim so he can check them out.


Electronic Rent Collections Changed – Since Intuit shut down, we selected PaySimple.com as our rent collection vendor. The only problem so far is that it takes on average 3 days longer than Intuit. Investors typically get paid on or about the 10th now. We are still light years ahead of our competitors.

Silvia MendozaSilvia Mendoza – Has joined Limestone Investments as a property manager. She speaks Spanish!!! You have no idea how hard it was to find and recruit a licensed property manager who speaks Spanish and willing to leave their existing brokerage. 


Web Site – Server Change – We are still having issues with our data base. Investors who use their status link need new ones. If you need an updated status link, please ask your agent / property manager.


Popular Links

Investor Introduction Video 

Recent squatter removal video.

Evictions and how they work

Video of crack head squatter

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