Sending an offer w/out running (las vegas market)

[Ramin S.]

Hey guys,

Ive been actively analyzing properties for a 4-plex or preferably more in the Las Vegas area. And I've been running numbers for analysis from the agent Im working with. It looks like the market is so hot there that listings are getting multiple offers (no surprise).

My agent purposed to make an offer without doing the numbers since theres some latency between me running the analysis and them getting the numbers.

Is this a thing in Las Vegas area ? Sounds sketch bc how can I make an educated offer if I dont know the numbers. The agent has told me that I would be able to get my earnest money deposit back if I make an offer and the party accepts but the numbers dont work, is this true ? Let me know your thoughts. Thanks

[Bill B.]

You pry can’t get your money back because “the numbers don’t work” but certainly if the bank won’t finance it, it doesn’t appraise, or the inspection finds undisclosed problems. Once you’ve done 2-3, certainly once you’ve done 5 I will assume you can figure out if “the numbers work” in less than 5 minutes. 

Rents minus taxes/insurance/Hoa if any gives you gross. Asking price gives you payment & interest. 

It's got to be easier than vegas SFR and those don't take me 5 minutes.