Fourplex in Las Vegas, NV being offered as-is for $100,000.

Property Description

This is a 4-unit fourplex located in central Las Vegas. Unit mix - 1x1/1s, 1x2/1's, 2x3/1's.  Rents - 400, 500, 2x 650. One unit is rented out, three are currently vacant. Property is in good overall condition and does not need much. Needs $5,000  in total rehab costs. Fourplex is being offered as-is at 14% cap rate for $100,000.

Net Operatiing Income is $14,186. 14% cap rate.

As this property is wholesale priced, I am looking for an all cash buyer that can close quickly. This is an assignment of contract.

If you are interested, call today and let's talk!! Brian - 971-222-8326.

I hope you are doing well and 2010 is treating you kindly so far.  Things are going well for me, and I'm actually NOT going to Las Vegas this month!  I seemed to be going to Las Vegas so much last year that I was getting recognised, making friends and some people thought that I lived there.

$110,000 Fourplex in Las Vegas

So I have to tell you about a current wholesale deal I have under contract which is a fourplex fixer-upper in north Las Vegas.  A fourplex for $110,000!!

www.heldfourplex.com

This is a 4-unit Fourplex fixer upper located in north Las Vegas area. The mix is two 1 bedroom/2 bath units, one 2 bedroom/1 bath unit, and one 3 bedroom/1.5 bath units and all units are currently vacant. Rehab bid is approximately $11k. Visit website to see bid and other details.

Exterior of property completed gated in. Rear of property has courtyard enclosed in wrought iron gate. The 3-bedroom unit is a 2 story unit, rest are 1 story. There is onsite laundry room in building that can be entered from courtyard. Courtyard has big tree. The three smaller units recently updated with all tile floors throughout and recently updated appliances, bathroom tub, counter and toilet, kitchen counter top. The 2 story unit needs most starting rehab work.

Location of property is close to freeway, close to school. Property has good renter appeal and desirable location for families looking for place that is safe and secure.

I have connections to the Las Vegas area and can help the buyer by offering my property manager, contractor and maintenance company - all investor friendly and have experience working with out of state owners.

NOI is $15,104. PP is $110,000. $15,104/$110,000 = 12% cap rate. Zillow Zestimate $216,000. ARV sold comps of fourplexes in the area from Realtor $229,000. Lots of equity!

As this property is wholesale priced, I am looking for an all cash buyer that can close quickly. This is an assignment of contract and $110,000 price includes contract price and assignment fee. Closing date is February 9, 2010.

If you are interested, call today and let's talk!! Brian - 971-222-8326

For more details, (including the numbers, photos, location and rehab bid) please visit the website I created for the property at

www.heldfourplex.com

Take a look, and visit the website!  If you are unable to buy yourself, but you know other investor buyers, share the website with them and if you refer a buyer to me then I will give you a finder's fee as my thanks.

This is Brian Moy of Decisive Investments,

First off - I am sending you this email because you either signed up for the Decisive Newsletter thru Decisive Investments or thru your association with myself or Decisive Investments.  If this email is coming to you by mistake, or you are no longer interested in recieving emails from me you can instantly unsubscribe using [UNSUBSCRIBE].

I had to get that out of the way being the first Decisive Newsletter email that I'm sending.  Many of you may have signed up long ago so this is just a little reminder of who I am.

15 Cap Duplex & 12 Cap Fourplex Available

Now that that is out of the way, I can tell you that I am currently investing in the Las Vegas market.  Mainly I have been looking at residential multi-family units - that is 4 units and under.  The cap rates in Las Vegas are excellent at 10% and above. 

I have under contract a Center St. duplex in Henderson for $85,000.  Both units are 3 beds/2 baths.   NOI is $12,696 making the property priced at a 15% cap rate.  I have a rehab bid thru Cornerstone Maintenance is $6,660 for the whole thing.

For more details on the Center St. duplex, such as pictures, numbers, and further details see the marketing website for the property.  www.centerduplex.com

Also JUST under contract is a Held Rd. fourplex in Las Vegas for $110,000.  The mix is 2x 1 bedroom, 1x 2 bedrooms, 1x 3 bedrooms.  NOI is $13,160 making the property priced at a 12% cap rate.  My contractor is expected to look at it and send me a bid early next week.

Website for the Held Rd. fourplex will be up as soon as I have all the pictures and details to put on there.  I will email you as soon as its up.

These properties being priced at wholesale will require a buyer that can pay in all cash and close quickly.  After you rehab the property and rent it out, then you would refinance (or resell as a turnkey property) and have your money back within months, plus the additonal equity.

If either or both property interests you, I suggest you contact me TODAY.  Time is of the essense and my phone is always on.  971-222-8326  My email is brianmoy@decisiveinvestments.com or you can simply reply to this email and I will get it.

Closed on 7-Unit Apartment Building

In other news, I have purchased a 7-unit apartment building for myself that I am keeping.  Its funded and escrow has closed. 

For further details on what I am currently doing, I invite you to take a look at my Personal Motivation Journal - I call it my PMJ for short.  www.brianthebestican.com

If you are on FaceBook, why not add me as your friend?

www.facebook.com/decisive

If we have not met personally, then please add in message something about real estate investing as when I don't recognise a person or know how I am associated with them, then I ignore the friend request.

Thanks and best wishes to you in your investments!