US foreclosures - Boholt Seminars - NO

Hey Costa,

Thanks for sharing all the info!

Are you organising people to do the work for you from Vic, or are you having someone in LV organise all the work for you?
 
Las Vegas

Hi Costa

Well Done!

Care to share the property price and property details so that we newbies can have a peak at your effort?

Cheers
 
http://www.trulia.com/property/3032227885-5737-Baffy-Cir-Las-Vegas-NV-89142

I will give a breakdown of the final price paid once known, including fees, repair costs and everything else.

haven't decided about the work yet, but likely get things started whilst still in Melbourne. I plan to visit vegas again in late Jan, early FEB.

I wont be posting on here for a few days as I've got too many other things taking up my time right now, so please don't be offended if I take long to get back to you. I will respond to private messages/forum posts when I can and also update everyone with my purchase.

Good luck all.
 
Buffy

Hi Costa

Thanks and fantastic property! If you can get rent in the low 1000s, it is a good buy! (IMHO)


Do you mind if i ask you 2 more questions:

a) Is there any part of Las Vegas you feel unsafe when you were driving around?
(i noticed lower prices in Sunrise Manor and North Las Vegas; are they relatively safe?)

b) How did you finance this purchase? If it is for cash, curious how you plan to get your cash out?? (in order to buy again!:p)

Thanks!
 
Drivers in Las Vegas are unbelievably courteous compared to Melbourne or anywhere else I have driven.

I'm expecting rental yields in the low double digits after all expenses/taxes/etc.

the house needs new carpet, dishwasher, oven, and some other appliances (i need to check the inspection report again, but potentially washer/dryer, fridge)
and also some other minor odd repairs that need to be done

Well done costa. I've done more talking then walking so it's great to see others who do it the other way. Congrats. And a big shout out to Emma. We are fortunate. Care to share how you came to your decision? Was there something particular about this IP that made you pull the trigger? Congrats again
 
Ha, Costa just beat me back... Landed this morning. We had a blast in Vegas and a like mind to say hi to.

To cut a long story short, I have decided to look at this professionally and will if legally allowed to, keep people posted if you happen to want the help on a property in Vegas. I love doing this, have awesome people and happy to help.. As someone said, find something you would do for free and try to make an income out of it. I do have the process pretty down pat and just seriously have fun in the process. I am also going to be there pretty much all next year as of end-ish Jan so it's a bit silly not to. My greatest skill is probably being a running calculator for repairs and knowing every street but whateveer happens, i won't get involved unless someone actually gets a rented and tenanted property at the end.... I am not sure if this is soliciting so thread may be deleted but I want to make sure if I do anything.... It is legal!
 
By the way, Buffy is beautiful... He has a great new baby! congrats ARE in order... He chose really well and when he showed me it, I walked through with all the thrill you get of finding an Easter egg as a child on the hunt...in return, I showed Costa my burnt baby...

89030 is one zip most avoid. A lot of people say buy anywhere but north las Vegas although I have found some good ones everywhere and the highest yielding property I own is in.... Um, yes,.... Confession.... 89030! 23%... net....sigh, exceptions to the rule.
 
Baffy Emma, not Buffy. Buffy killed vampires or is a cloth for polishing cars....:):)

Clearly Costainvegasinmel doesn't like lawn mowing:):) I wish more people in Oz had that approach rather than planting English weeds everywhere!

Really really good to see someone put in hard & gutsy yards and get a great result WITHOUT spending a fortune on the seminar trail. It is exciting watching people trying and achieving 'new' things.

Reeco, Dtraeger and Aaron (& others of course) - It isn't that scary anymore - surely you guys will have one (at least?) soon????? The information is ALL here for everyone to do it for themselves - Now proven by example.

Thanks for the kind words Aaron. I would be almost as excited as Costawhodoesntknowwherehelives over this purchase. I never in a million years thought this post would lead to someone actually going out and doing it (at least in part) because of this site. I know Emma would have been over the moon to have a fellow Aussie investor to share in the excitement of a purchase in a new land.. Its just not something everyone does!
 
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I would like to say thankyou as well to Emma for her contribution to this forum. She has literally taken us through the steps involved to purchase in Vegas and freely provided her local knowledge and her contacts. Incredibly valuable information for anyone considering buying in vegas or the US

I too have met Emma and she is as Costainvegas has mentioned a really helpful , and lovely person.

Welcome to the somersoft family Emma :)
 
if i can string some cashola together i'd be over there in a heartbeat, but the wife won't let me touch the US market personally.

i'm out of real estate untl i can sort my crap out here at home, anyway. stupid accountants.
 
Well booked my second trip for march. Thought going in June 2011 would suffice but no. I shall venture into the unknown with open eyes and an open mind...Never know i might get hitched;) .... When in rome...:cool:
 
Time to short the Elvis wig market guys - there is a long buyer out there..!!

Vegas, reeco, vegas.... Rome is a different place entirely. One wouldn't want to do in Vegas as one might do in Rome, it would defeat the purpose entirely...:):)

Togas? Wigs? Am I the only one totally confused???
 
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Okay...thus far I am looking at an Australia Day in Vegas...So I think honorary celebrations by the brave about to invade are in order....lol.... Seriously though I am looking at about a two month stretch for the next visit so when in Rome etc... Thus far I must say I have avoided the many wedding chapels however should anyone feel the need for a witness? So long as no teeth are pulled in the process, I will try to be sober enough to remind you who you married at least, Reeco!
 
I would just like to add my thanks to Emma for a great effort and so many contributions in a very short time (100+ posts in under 2 months) and just being a great person.:cool:

Congrats on your purchase Costa - I look forward to more info for the Baffy property. We are going to have a look in February so the more info the better.

Cheers
 
I would like to say Thank you to Emma and Lawjs for sharing there thingys :) and other's as well who has contributed in this thread.

Everything is in this thread, now we can complete this full process if people get actual rented properties and then retire ;). Emma, please keep us posted how you progress to do this professionally. Also, please see if there are ways to get finance which will help to buy more, specially for those who don't have LOC.

Thanks again to Emma and Lawjs. By next year all LV foreclosed property will be gone ;) if Emma can start this professionally.

Lawjs, please see if is it possible for you to share your US property journey (1998-2010) in a new thread. It will help many. Any other reader vote for this ?

PS: I like the stuff which is in bold below.

... I have decided to look at this professionally and will if legally allowed to, keep people posted if you happen to want the help on a property in Vegas. I love doing this, have awesome people and happy to help.. As someone said, find something you would do for free and try to make an income out of it. I do have the process pretty down pat and just seriously have fun in the process. I am also going to be there pretty much all next year as of end-ish Jan so it's a bit silly not to. My greatest skill is probably being a running calculator for repairs and knowing every street but whateveer happens, i won't get involved unless someone actually gets a rented and tenanted property at the end.... I am not sure if this is soliciting so thread may be deleted but I want to make sure if I do anything.... It is legal!
 
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My plan is to be back in Vegas the first week of Feb and stay there for at least a month.

I'm looking to refinance my property purchase(s) and, if successful, to buy more. That is, on the additional assumption I am able to rent them out.
 
Costa,
when you feel up to it, could you tell us how you financed your purchase?
Was it cash or did you get some kind of loan?

Did you have to do a lot of negotiating?

If you're prepared to share, please give us a breakdown.

Thanks.
 
OKAY..... Big heads up... Line of credits aren't being accepted by many banks anymore... (someone just tried to use it for POF)....Changed about 6 months ago apparently.....so just a heads up that if you are serious, you may be just as well to transfer sufficient funds into another account for proof of funds for a day...then Transfer it straight back after you have printed off your proof of funds! The title company won't care where final settlement comes from.

Another genius circumnavigation of the negative.....
 
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