US foreclosures #2 (aka the Emma171 thread)
- Thread starter Sunfish
- Start date
My little post here got lost in the last thread being abandoned, but I really kinda need some input now please folks.
Would you all be so kind as to just name me your insurance companies/brokers, etc. please?
I'll do my own research thereafter, but a heads up on names, cost and experiences might be nice.
Emma, Jeremy, Costa, anyone who's already a functioning landlord?
Need to get some insurance in place quick smart.
Would you all be so kind as to just name me your insurance companies/brokers, etc. please?
I'll do my own research thereafter, but a heads up on names, cost and experiences might be nice.
Emma, Jeremy, Costa, anyone who's already a functioning landlord?
Need to get some insurance in place quick smart.
Hi
This guy is dealing with a few Australian based investors. Doubt if he's cheap but seems to know his subject.
Here is a series of You tube clips featuring Skip Swany
(posted this earlier but you may have missed it)
http://www.youtube.com/watch?v=iT0QkUVbXMU
His email is [email protected]
Cheers
Still working my witholding tax on interest question. I suspect that I may stumble across an answer re your question in my travels.
Cheers
Interesting article on current market update in lv.
http://www.lvrj.com/business/las-vegas-home-prices-down-5-2-percent-from-last-year-118443994.html
Bit i thought was interesting was the difference in medians between the different types of sales......
"SalesTraq reported 372 auction sales at a median price of $86,500; 1,647 real estate-owned, or bank-owned, sales at $106,000; 782 short sales, or lender-approved sales for less than the mortgage balance, at $120,000; and 815 regular sales at $115,000."
Geez i think those trustee auctions would be an interesting purchase route if one knew what one was doing re liens and fixups. Some people obvioulsy do. And i guess they only found out by doing.
http://www.lvrj.com/business/las-vegas-home-prices-down-5-2-percent-from-last-year-118443994.html
Bit i thought was interesting was the difference in medians between the different types of sales......
"SalesTraq reported 372 auction sales at a median price of $86,500; 1,647 real estate-owned, or bank-owned, sales at $106,000; 782 short sales, or lender-approved sales for less than the mortgage balance, at $120,000; and 815 regular sales at $115,000."
Geez i think those trustee auctions would be an interesting purchase route if one knew what one was doing re liens and fixups. Some people obvioulsy do. And i guess they only found out by doing.
also the second best site besides zillow and bigger pockets is
citydata (google it)
has info from locals on every US city
citydata (google it)
has info from locals on every US city
As mentioned already....I use George Davis for insurance - Davis Group here in Vegas but not sure if they are elsewhere....he is an insurance broker though so probably has connections to other States. He shops hard and meets my absolute needs for instant turnaround on that....
I like insurance brokers - like mortgage brokers they can shop all products on the market and play ball - ie for umbrella insurance or finding someone who can put up the liability amount to 1 mill etc...
Yes, I am looking into the auction sales but it is "down and dirty".....teaming up with people who do this is entering into a bit of a dangerous area in my mind but I am open to a new experience.....
My accountant is in Alaska but ROCKS - he is just a crazy great genius on every small business development thingy at the University of Alaska and Economic Development stuff you could imagine - he is always the one who comes up with the goods... he is a US CPA but I am sure that if you wanted to consult, he is used to me plonking myself down in front of him each year with my rather genius things and he is also a HUGE investor. Enjoys great wines and has a Friday beverage for his clients if you are ever in Alaska - one of a great many Alaskans I truly admire and love.... a HUGE entrepreneur - buys tracts of land in Alaska based on Geophysicist reports for gold etc, thinks about growing flowers in Alaskan summers to export to god knows where and ultimately, just loves people being a little bit different so anyone here would get on famously with him. If he can't help, he would let you know. He would not be able to answer Australian/US specific issues though but just US based questions..if this is you, PM me, I will give out his details....he has worked with me for ... gasp ... 10 years!
My work here is done???? Phew! Lol.
I like insurance brokers - like mortgage brokers they can shop all products on the market and play ball - ie for umbrella insurance or finding someone who can put up the liability amount to 1 mill etc...
Yes, I am looking into the auction sales but it is "down and dirty".....teaming up with people who do this is entering into a bit of a dangerous area in my mind but I am open to a new experience.....
My accountant is in Alaska but ROCKS - he is just a crazy great genius on every small business development thingy at the University of Alaska and Economic Development stuff you could imagine - he is always the one who comes up with the goods... he is a US CPA but I am sure that if you wanted to consult, he is used to me plonking myself down in front of him each year with my rather genius things and he is also a HUGE investor. Enjoys great wines and has a Friday beverage for his clients if you are ever in Alaska - one of a great many Alaskans I truly admire and love.... a HUGE entrepreneur - buys tracts of land in Alaska based on Geophysicist reports for gold etc, thinks about growing flowers in Alaskan summers to export to god knows where and ultimately, just loves people being a little bit different so anyone here would get on famously with him. If he can't help, he would let you know. He would not be able to answer Australian/US specific issues though but just US based questions..if this is you, PM me, I will give out his details....he has worked with me for ... gasp ... 10 years!
My work here is done???? Phew! Lol.
Last edited:
Bigfire. There's a stupid amount of homes in your price range. I'm struggling to narrow down my options since I'm looking in that range also. Care to share how you decided on your final choice? I'm not playing the appreciation game as much as others since I believe it's way too engrained into the ozzy psyche.
Yield is king here IMHO. Cap gains not so much.
I bought in a place called Gibson Springs.
When I first arrived in Vegas I decided to look for properties in Green Valley around $120k without HOA.
I couldnt find anything I liked, all a bit run down, streets looked a bit dodgy etc.
So...I started looking at places in the $150k range with low HOA fees..$20/month...and found a big difference. Suddenly I was seeing things I wouldnt mind living in myself (If I had to).
Submitted a few lowball offers and got an acceptance within a few days. House was listed at $139k and I got it for $115k.
Sure, I would get a better yield in the $70k market but I'm still cash positive, and for some reason I just feel more comfortable owning a better house in a better neighbourhood.
I see there are a couple of other places in Gibson Springs for sale and I'm thinking seriously about getting another one.
I'm hoping for the occasional case of wine Emma might drive around the block for me and let me know how the LV property empire is looking
I too share your strategy. Based solely on the words of a few outspoken individuals on citydata...I became a yes man and saw HOAs as the devil incarnate. When I finally saw the endgame of an HOA area vs one without I quickly adjusted my outlook to include them. the difference is startling. Night and day.
In principal, HOAs are nothing more then a council. I believe they have a bad rap because they vary so wildly, and can be operated by common folk with little experience in town planning or management. Hmmmm hang on a minute!...that sounds like my dang council here in perth
In principal, HOAs are nothing more then a council. I believe they have a bad rap because they vary so wildly, and can be operated by common folk with little experience in town planning or management. Hmmmm hang on a minute!...that sounds like my dang council here in perth
Last edited:
15% Yield...
Its not that impressive when you realize your paying in cash. I can get a 17% yield at my pad now if I didn't have to pay the overlords at NAB. The obvious difference is the point of entry. So so easy in LV
15% on a 30%LVR loan. now that's something to write home about. Ill also be using other peoples money for my purchases. I think i'd be lucky to pull 8%nett.
Given that, one has to ask...is it really worth the dramas of being an overseas Landlord?? Of course it is! ....If I'm asked ill just get on the defensive by flip flopping, and say I'm in it for appreciation! Ha. Face saved
Its not that impressive when you realize your paying in cash. I can get a 17% yield at my pad now if I didn't have to pay the overlords at NAB. The obvious difference is the point of entry. So so easy in LV
15% on a 30%LVR loan. now that's something to write home about. Ill also be using other peoples money for my purchases. I think i'd be lucky to pull 8%nett.
Given that, one has to ask...is it really worth the dramas of being an overseas Landlord?? Of course it is! ....If I'm asked ill just get on the defensive by flip flopping, and say I'm in it for appreciation! Ha. Face saved
Last edited:
Oh Bejeebus..... a Case of wine????? Who thinks I am that cheap?? Just because I spend my time in Vegas??? Okay.... a drive around for a case of Yquiem... SURE!
Hey, Where the HELL is my big bro when I need him? Jeremy? FYI, just had someone from SFO - US buyer who is avoiding wholesalers and was given this link say that outside of The Daily Show, there hasn't been a more honest word about some of the issues with the US housing market thread forwarded through the grapevine....
I am proud that this thread has allowed true debate and what in the US is said First Amendment rights to voice opinions.
Hey, Where the HELL is my big bro when I need him? Jeremy? FYI, just had someone from SFO - US buyer who is avoiding wholesalers and was given this link say that outside of The Daily Show, there hasn't been a more honest word about some of the issues with the US housing market thread forwarded through the grapevine....
I am proud that this thread has allowed true debate and what in the US is said First Amendment rights to voice opinions.
look at that aussie dollar...
delicious!
delicious!
Bugger. Lost 900 on my 60k flip on thurs. Ah well can't win em all. Today is one he'll of a day to sell the AU.
You're pulling my leg. 17%. In Australia?
10 foreign uni students in a 2 bedder... ha
