All Forum Posts by: Richard Chang

Andy,

Here are the MLS listings he sent me

$ 199,990 9825 BISCAYNE LN Ref #: 1237184
3 br / 2.5 bath 2660 sqft 1989
http://las.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1432266660&s=LAS&t=LAS

$ 199,900 2272 AUTUMN FIRE CT Ref #: 1194864
4 br / 3 ba 2400 sqft 2007
http://las.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1432266660&s=LAS&t=LAS

They are in the Lakes area I think but I want to
"buy right" getting in and hope to learn how to do so !!!

Thanks, LA Guy

Leon,

Ok, I appreciate the help and hope to return in kind when I can ! :)

I will review gohoming.com

How to find out what falls out of escrow ( back on the market ) ?

Look at getting my LV RE License / rehabbing experience etc.

Many Thanks, Rich C

PS will be in town next week with the wife.

Hi Leon and Andy,

Thanks for keeping the conversation going and telling it like it is
( slang: Keeping it real ! )

My realtor emailed me 2 regular MLS listings near the Lakes around the 200K range - 4br 1900-2200sqft ( retail all the way ).
Which is in the 30 minute communite range to work
in the Durango/Sahara vicinity.

I think I'm going to have to "learn" and take your advice. A RE License may be the way to go to get MLS access and to learn at the grass roots leevel or work with a rehabber/wholesaler.

Maybe, we can hook up for some Dim Sum when I'm in town in the next week or too ?

Best, Rich C :)

Jason,

Not being a LV Native, I wanted to know who Moe is

Moe Greene was a renowned Jewish mobster and former executioner for Murder Incorporated, credited with the development of Las Vegas into a gambling and

Actually, that is a good point, how do you check out who your neighbors are when selecting a property ? Knock on the door and introduce yourself before hand ?

Thanks, Rich C

+ Kind of interesting to see how government intervention will play out ...

- So, this is a good thing for distressed upside down Homeowners but does it forestall the inevitable if they cannot still pay for the homes without steady employment.

- What happens to these vacant properties during this period, banks will do rentals ? Deed For Lease ( rentals )

- see some encouraging news in LV about Solar businesses near Primm ( Stateline border ), Toyota openng a factory in the North East , Zappos moving downtown.

Thanks to all, Rich C

Hi Jesse,

Good point, patience, knowledge and hard work are the tools to reach the goal ! :)

Thanks, Rich C

Hi Andy,

I think these zipcodes are candidates for the 20-25 minute rush hour drive downtown 8am start
89128 south part
89145 closer to 95
89117 more east toward Buffalo / Rainbow
89145 more east toward Buffalo / Rainbow
89147 more east toward Buffalo / Rainbow
89146
89102
89103
89107

- Good deal is below market in good area
- I'm not very handy but can assist with easy stuff so I would need help with Rehab
- Yes, I am going to rent close to downtown first , looking at some 3 month rentals 15 minutes to downtown and will do a partial move. Must start work last week of April. May "do big move" after finding home.
- Market with low mortgage sounds like an option to consider

I need time to study the areas and meet other pros so I hope to meet up with you guys in LV. :)
Appreciate all the advice given here. Hope to return in kind :)

Best, Rich C

Hi Bruce,

"I buy in Las Vegas and the market is very tough right now to find inventory because of the moratorium on foreclosures by NV"

Thank you for that explanation. I guess if a homeowner stops paying his mortgage and can live rent free then that only leaves the regular inventory to be consumed by "lots of buyers" at retail prices.

Additionally, I read where BOA , Wells Fargo are doing Deeds For Lease ( Rent Back to Homeowner programs ) for now.
This means that the Homeowner turns over the deed to pay a fair market rent for a year or two. This will stablize home prices since there is no longer a glut of foreclosures to complete with standard sales ( ugh ).

Any advice on what to do now to get a good deal ?

Best to you, Rich C

Hi Andy, ( ni hao ? ) and BP'ers :)

I'm sensing this from the lack of listings on the MLS and my realtor is not finding anything so far.
Ok, finding an honest bidder who does all the research like Rich Weese ?
So are you suggesting to find some REO brokers and work directly with them or thru my realtor ?

Ok, will take a look today. I think I will open another thread to discuss buying/dealing with a wholesaler and understanding the whole process and details.

I haven't picked the exact location yet. I think I want to be West of 15 and probably south of 95 within 20 minutes rush hour drive.
Yes, I did follow some threads there. So, let me post there and ask which areas they think are best. Thanks.

Thank you, Rich C

Hello Leon,

How do like living in Vegas from the Asian perspective ?

Ok thanks, I will check the REI Club meetups out.

Which BP topic threads which you recommend ?

I'm looking for SFR in a nice area 4/2 ideally which can be rehabbed a little ( below market ). How do I determine market by comparable sales ( price sqft ).
Should I be looking for REO's only.
Realtors say you must above list price to get them.

I been reading this site previously with casual interest.
Now, I hope to really learn and apply the principles here.

Regards, Rich C